Here are some things gig economy workers should know about their tax responsibilities
Many people take up gig work on a part-time or full-time basis, often through a digital platform like an app or website. Gig work, such driving a car for booked rides, selling goods online, renting out property, or providing other on-demand work, is taxable and must be reported as income on the worker’s tax return.
Here are some things gig workers should know to stay on top of their tax responsibilities:
Gig work is taxable:
Proper worker classification:
While providing gig economy services, it is important that the taxpayer is correctly classified.
Paying the right amount of taxes throughout the year:
The Gig Economy Tax Center on IRS.gov answers questions and helps gig economy taxpayers understand their tax responsibilities.
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Mia Verc, CPA; Janice Papais, CPA
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