There’s no better place to get your questions answered than directly from the IRS Sharing Economy Tax Center. The IRS recently put together an extensive webpage to go over many of the issues facing those in the sharing economy. You can view the website here or continue reading below for a snap-shot of what to expect:…
Fortunately your Form 1099 has a lot of useful information that you need on it. But first off, congrats! Choosing yourself is a lot harder than it seems. Being your own boss has many advantages, and, sure, some disadvantages. The feeling of being in charge of how much money you earn is great. Hopefully you…
Quarterly estimate payments are used to pay some, or all, of your taxes owed before the actual filing of your tax return. In certain situations, they are required. If they were required, and you did not pay any or not enough, there is a chance that an underpayment penalty will be due on your return….
If you’re working as an independent contractor, which includes working for companies such as Uber and Lyft, then chances are you will be paying self employment tax. Self employment tax is calculated on the net income from your business. If you’re thinking to yourself that you don’t have a business, well, think again. For tax…
