gig economy

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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Make Sure You Report All Income on Your Returns

Bailey Scarano Blog, Tax & Money Tips / By

Did you drive Uber to make some extra money this year? Or dabble in cryptocurrency? The IRS is reminding taxpayers of reporting and potential tax obligations from working in the gig economy, making virtual currency transactions, earning foreign-source income, or holding certain foreign assets. Generally, income earned from the gig economy is taxable and must be

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