Hey ,
Whether you’re driving for rideshare platforms like Uber and Lyft, renting out property, completing tasks, selling goods online, providing professional services on freelancing platforms, or engaging in other gig-related
activities, this email is for you.
The gig economy encompasses various income-generating
activities, so it’s essential to determine whether your work falls under this category. To understand better, you can visit the worker classification page on IRS.Gov for more information.
If you are a gig worker, here are some vital steps you must take.
Report All Income:
- Report all income, including earnings from part-time, temporary, or side work.
- Ensure that you report income that is not documented on a Form 1099-K,
1099-NEC, 1099-MISC, W-2, or any other information return.
- Include income received in the form of cash, property, goods, or virtual currency.
Failing to report your income
accurately can result in IRS complications. To ensure your peace of mind, consider hiring me to assist you in planning and filing your 2023 tax returns.
Taking this step can help you avoid potential issues and even ensure that you are meeting your estimated tax obligations.
And, if your gig income is on the rise and you’re considering turning it into a full-fledged business, I can provide valuable guidance. Contact me at 202-618-1297 to help you establish your business and develop effective tax strategies that can save you money. You can also click the link below.Bottom of Form
