{"id":322,"date":"2021-05-28T12:58:24","date_gmt":"2021-05-28T12:58:24","guid":{"rendered":"https:\/\/sexworkertaxes.com\/?p=322"},"modified":"2021-05-28T13:04:23","modified_gmt":"2021-05-28T13:04:23","slug":"gig-economy-tax","status":"publish","type":"post","link":"https:\/\/sexworkertaxes.com\/index.php\/2021\/05\/28\/gig-economy-tax\/","title":{"rendered":"Gig Economy Tax"},"content":{"rendered":"

What is the Gig Economy?
\nThe gig economy\u2014also called sharing economy or access economy\u2014is activity where people earn income providing on-demand work, services or goods. Often, it\u2019s through a digital platform like an app or website.<\/p>\n

Gig Economy Income is Taxable
\nYou must report income earned from the gig economy on a tax return, even if the income is:<\/p>\n

From part-time, temporary or side work
\nNot reported on an information return form\u2014like a Form 1099-K, 1099-MISC, W-2 or other income statement
\nPaid in any form, including cash, property, goods, or virtual currency<\/p>\n

What to Do
\nGig Workers
\nFind forms, keep records, deduct expenses, file and pay taxes for your gig work.<\/p>\n

Here is a spreadsheet we created for you to track income and expenses: <\/p>\n

Expenses Spreadsheet<\/strong><\/a><\/p>\n

Digital Platforms and Businesses
\nClassify workers, report payments, pay and file taxes for a digital marketplace or business.<\/p>\n

What is Gig Work?
\nGig work is certain activity you do to earn income, often through an app or website (digital platform), like:<\/p>\n

Drive a car for booked rides or deliveries
\nRent out property or part of it
\nRun errands or complete tasks
\nSell goods online:
\nIWC, AVN, Night flirt etc<\/strong>
\nRent equipment
\nProvide creative or professional services
\nProvide other temporary, on-demand or freelance work
\nNote: This list does not include all types of gig work.<\/p>\n

What are Digital Platforms?
\nDigital platforms are businesses that match workers’ services or goods with customers via apps or websites. This includes businesses that provide access to:<\/p>\n

Ridesharing services
\nDelivery services
\nCrafts and handmade item marketplaces
\nOn-demand labor and repair services
\nProperty and space rentals
\nNote: This list does not include all types of digital platforms.<\/p>\n","protected":false},"excerpt":{"rendered":"

What is the Gig Economy? The gig economy\u2014also called sharing economy or access economy\u2014is activity where people earn income providing on-demand work, services or goods. Often, it\u2019s through a digital platform like an app or website. Gig Economy Income is Taxable You must report income earned from the gig economy on a tax return, even […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,6,5],"tags":[54,99,96,98,100,97],"class_list":["post-322","post","type-post","status-publish","format-standard","hentry","category-irs","category-sex-workers","category-taxes","tag-54","tag-avn","tag-gig-economy","tag-iwc","tag-night-flirt","tag-side-word"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/posts\/322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/comments?post=322"}],"version-history":[{"count":2,"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/posts\/322\/revisions"}],"predecessor-version":[{"id":324,"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/posts\/322\/revisions\/324"}],"wp:attachment":[{"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/media?parent=322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/categories?post=322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sexworkertaxes.com\/index.php\/wp-json\/wp\/v2\/tags?post=322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}