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Gig workers have a few factors to consider in order to ensure they’re meeting their tax requirements and avoiding penalties.
Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in ...
For the current tax year, freelancers and small business owners still only need to use 1099-K forms to report third-party app payments totaling $20,000, and any number of payments above 200.
Gig work is spreading around the side job and delivery business. Kakao has hired drivers to build a system for proxy driving, and the people of delivery are meeting the surging demand for delivery through a near-field delivery called "Vamin Connect". There is a gig work platform for professional freelancers, not just work.
The California Attorney General's office and local prosecutors can also sue companies. [21] Proponents of the bill said it would give workers previously classified as contractors minimum wage, overtime, sick leave, unemployment and other benefits, and prevent the state from losing $8 billion from unpaid payroll taxes.
The IRS also offers several resources to help gig workers meet their tax obligations. See: The 7 Best Side Hustles for Parents Find: 27 Most Lucrative Side Hustles for People Over 50.
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