Taxes will need to be paid on your earnings over $600. This is done by reporting your 1099 at the end of the year on your taxes.
PayPal will send you a 1099 form at the end of the year for PayPal and Venmo withdrawals.
DOTs (our payment processor) will prompt you to fill out a Tax Compliance Form for Cash App & Direct Deposit withdrawal.
Keep in mind that you will want to keep track of how much you are paying teammates so you can use that information for your tax deductions at the end of the year.