🚨 Major Tax Reporting News for Online Platforms! 🚨 The IRS has just announced new thresholds for 1099-K reporting, effective for the next three years. 📅 If you're an online platform, these updates could have a major impact on how you manage your transactions and taxes. Don't let these changes catch you off guard! Our latest blog dives into everything you need to know: ✅ What's changing? ✅ Who is affected? ✅ Key implications for your business. 🔗 Read the full article here: https://lnkd.in/eNCZigxM
Trolley
Software Development
Toronto, Ontario 6,403 followers
The Payouts Platform for the Internet Economy
About us
Trolley is the end-to-end payouts platform built for the internet economy, helping businesses make and manage payouts to contractors around the globe. Finance and product teams across hundreds of organizations—including Envato, Downtown Music, Bugcrowd, GoTo, & Viral Nation—use Trolley to automate processes and enable payouts at scale. Annually, Trolley sends billions of dollars in 210+ countries and territories, with over 2.5 million total recipients on the platform. Trolley is on a mission to unlock the collective economic opportunity of the internet.
- Website
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trolley.com
External link for Trolley
- Industry
- Software Development
- Company size
- 51-200 employees
- Headquarters
- Toronto, Ontario
- Type
- Privately Held
- Founded
- 2015
Locations
Employees at Trolley
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Vincent Guérin
VP of Marketing @ Trolley | Chargé de cours at UQAM | Geek out on B2B, SaaS, Revenue, ABM, Attribution.
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Aman Aalam
Senior Developer Advocate at Trolley | Co-Organizer at TorontoJS
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Myles Carter, PGCC
Marketing Leader | Professional & Life Coach | Empowering Personal & Professional Growth
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A. Dean Durnford
Account Executive: Building the payouts platform for the internet economy @ Trolley
Updates
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🚨 Big thanks to our trusted Tax and Compliance Advisor, Jessalyn Dean, CPA, for breaking down the latest IRS update on the 2024 Form 1099-K reporting thresholds so quickly and clearly! 🙌 We’re fortunate to have Jessalyn sharing insights to help the community stay ahead of these changes. 🙏 #TaxCompliance #IRSUpdates #Form1099K #SmallBusiness #Accounting #TaxPlanning #TPSO
Digital payments & assets customer tax reporting | Product growth scalability 🚀 | Risk mitigation ⚖ | Governance 🤝 | Tax SME 🧠 | Strategy consultant transforming CX disruptions caused by taxes
🚨 US #IRS just announced the 2024 Form 1099-K reporting threshold for TPSOs will be $5,000 via Notice 2024-85. They published a further phase-in threshold for 2025 reporting which will be $2,500. From 2026 and beyond, the threshold will be $600. Let's look at the details 🔎 📌 The published law is a $600 threshold. The IRS notice is only to inform TPSOs that the IRS will not penalize them for failing to file at the $600 threshold. This means that if a TPSO is able to file at the $600 threshold then they are in compliance with the law if they do so (even if customers complain). 📌 The $5,000 threshold has no transaction threshold. So the reporting begins from 1 transaction, rather than the old 200 transactions. 📌 The notice addresses relief from backup withholding requirements which should be reviewed closely. Any TPSO that has done backup withholding during 2024 will be required to report that on a Form 1099-K even if the amount of the payments is below $5,000. 📌 TPSOs should monitor guidance from various State tax authorities who may follow IRS guidance or may insist on their own thresholds. They may also simply align with the law ($600) without regard to IRS penalty relief. Notice 2024-85 👉🏼 https://lnkd.in/eunF3xwS
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Following up on a series of exciting announcements, we’re thrilled to share that Trolley has been ranked #244 on Deloitte’s Technology Fast 500 list! 🎉 This honor reflects the incredible growth we’ve achieved over the past three years—growth driven by our team’s dedication to redefining payouts and compliance for businesses worldwide. 🌍 A huge thank you to our clients and partners who made this milestone possible. Your trust and collaboration inspire us to keep innovating every day. We’re just getting started, and we can’t wait to see where the road takes us next. 🚀 #TrolleyPayouts #TechFast500
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Trolley reposted this
Trolley has raised $23m in its Series B funding round led by Wavecrest Growth Partners, with additional participation from Pace Capital. This funding will enable Trolley to further innovate their payouts platform, particularly in music, where clients include SoundCloud, Bandcamp, UnitedMasters, and Hopeless Records. CEO Tim Nixon and VP revenue Conor Cox 🤘 shared their commitment to support more artists and music platforms globally. Stuart Dredge | Music Ally https://lnkd.in/exvJpSuz
Payouts platform Trolley raises $23m Series B funding round
https://musically.com
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We’re thrilled to see our Series B funding news covered by the Canadian-based BetaKit team! Trolley is a Canadian company making global impacts in payouts and compliance. Thanks again to our team and partners for driving this mission forward! Check out the full article to learn more. #TrolleyTeam #SeriesB #GlobalPayouts
Exclusive: Montréal-based #FinTech startup Trolley secures $32-million CAD Series B to expand payout platform’s global reach. #MTLtech #CDNtech
Trolley secures $32-million CAD Series B to expand payout platform’s global reach
https://betakit.com
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🚀 Here's some big news from Trolley! We’ve just raised $23M in Series B funding! What does this mean? We’re fuelled up and ready to build Trolley's future. This investment isn't about changing directions; it's about accelerating our commitment to what our customers need. We're going to use this money to tackle our mission: to make global payouts simple, compliant, and secure for businesses of all sizes—from startups to the Fortune 500. We’ll keep refining and expanding our payout solutions to meet the fast-evolving needs of companies around the world. A huge thank you to our investors, our incredible team, and our partners for believing in this vision. 🔗 Read our full press release here: https://lnkd.in/eJEvuGZF 🔗 Discover more about our journey and what's next: https://lnkd.in/eecQwWCG This funding round was led by Wavecrest Growth Partners, with support from Pace Capital. #SeriesB #Fintech #Funding #Trolley
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🌟 Trolley has been named one of the Best Workplaces for Start-ups in 2024 by Great Place to Work® Canada! 🌟 At Trolley, our mission goes beyond innovative payments – it’s about creating an environment where every team member feels valued, supported, and empowered to make a difference. 🚀💼 What makes Trolley a great place to work? From our commitment to continuous learning and innovation to prioritizing inclusivity, Trolley is a place where diverse talents thrive. Together, we’re building the future of global payouts – and having a great time doing it! 📢 Join our growing team! We’re looking for passionate individuals to join us on this journey: 🚋 Financial Controller 🚋 Software Engineer 🚋 Senior Account Executive Explore these roles and more here 👉 https://lnkd.in/e4gkxvfR #GPTW2024 #GreatPlacetoWork #LifeAtTrolley #Hiring #JoinOurTeam #JobOpenings #WorkCulture #CareersAtTrolley
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We’re excited to share that Trolley has been ranked #41 on Deloitte’s Technology Fast 50 list for the second year in a row! 🚀 This recognition highlights our 484% growth over the past three years, reflecting our team’s relentless commitment to innovation in payouts and compliance. As we celebrate this milestone, we’re especially grateful for our clients, partners, and incredible team who made it possible. Here’s to driving even more growth and transformation in 2025! 🌍 Learn more about our journey and what’s next for Trolley: https://lnkd.in/eCEqpZKj #TrolleyPayouts #TechFast50 #GrowthJourney #Innovation
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Managing royalty payments can be a major hassle—juggling multiple platforms and payout methods, manual data collection, and regulation changes... It can make your head spin. 😵💫 Trolley's new royalty calculator integrations streamline the entire process, start to finish. Curious how it works? We’ve broken it down into 3 steps—enable your royalty calculator integration, upload your files, and start sending payments stress-free. Read the full guide here 👉 https://lnkd.in/ekntNbJc #musicindustry #fintech #payments
Sync Your Royalty Calculator with Trolley
trolley.com
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🚀 The latest edition of the Payouts Pulse is live! Dive into the latest news shaping tech, marketing, and payouts: 💥 Epic v. Google: Big win for third-party app stores on Android 🔍 AI Search Tools: New tech, mixed reviews from marketers ⚛️ Nuclear Power & Big Tech: Google & Amazon tap nuclear to fuel AI Plus, Trolley is a Top Growing Company in Canada with 473% growth over the last 3 years! And, see how Distro Nation is speeding artist payouts with Trolley. 👉 Don’t miss out on these stories and more in the latest Payouts Pulse!
Payouts Pulse (Edition 013): Epic Win: What Google’s Court Loss Means for Developers 🎮
Trolley on LinkedIn