gig economy taxes

Courier On Bicycle Delivering Food In City

Many Gig Economy Workers Will Receive a Form 1099-K This Year

Bailey Scarano Blog, Tax & Money Tips / By

Taxpayers who earn in excess of $600 from selling goods and/or providing services could receive a Form 1099-K this year. Before 2022, Form 1099-K was issued for third party payment network transactions only if the total number of transactions exceeded 200 for the year and the aggregate amount of these transactions exceeded $20,000. However, now, a […]

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employee v. contractor

IRS is Watching How You Classify Workers

Bailey Scarano Blog, Tax & Money Tips / By

This comes up quite frequently, but it is still important enough for the IRS to issue a reminder about correctly determining whether the individuals providing services to businesses were employees or independent contractors. Keep in mind that an employee performs services that a business controls. Independent contractors offer their services to multiple businesses or the

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