Tax Time for the Gig Economy

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Author :
Publisher :
ISBN 13 : 9781071920084
Total Pages : 0 pages
Book Rating : 4.9/5 (2 download)

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Book Synopsis Tax Time for the Gig Economy by : Noah P. Barsky

Download or read book Tax Time for the Gig Economy written by Noah P. Barsky and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This case discusses the implications of the USD 600 taxable income reporting threshold required by the 2021 American Rescue Plan Act. The new law requires popular online platforms such as Etsy, eBay, StubHub, and AirBnB to report more user revenue to the IRS. Initially required for the 2022 tax year, implementation was deferred until 2023 to allow e-commerce sites, their users, and tax preparers additional time to prepare recordkeeping. Students are asked to consider what each "gig economy" stakeholder must do to best comply with the new reporting requirements.

Taxes In Today's Gig Economy

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Author :
Publisher :
ISBN 13 :
Total Pages : 138 pages
Book Rating : 4.4/5 (546 download)

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Book Synopsis Taxes In Today's Gig Economy by : Leonardo Tillberry

Download or read book Taxes In Today's Gig Economy written by Leonardo Tillberry and published by . This book was released on 2021-08-11 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the 2018 Freelancing in America report published by the Freelancers Union, almost 57 million Americans earn their living on a per-contract basis. This number represents a 3.7 million worker increase since 2014. Last year, the Freelancers Union speculated that 50% of Americans will be full-time freelancers by 2027. If you're working in the gig economy, you should read this book! If you're doing your own taxes and you want to know many of the issues ahead of time, you should read this book! If you're using a tax preparer, you should read this book so that you know how to keep records properly throughout the year, and so you know what records to bring along with you when you meet with your preparer! If you're a CPA, Enrolled Agent, or tax preparer who needs an easy way to inform your clients about how their taxes work and what records they need to bring to you, you should give them this book! If you're thinking of working in the United States and you need to know something about the income tax issues you might face here, you should read this book!

Taxing the Gig Economy

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Taxing the Gig Economy by : Kathleen DeLaney Thomas

Download or read book Taxing the Gig Economy written by Kathleen DeLaney Thomas and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Due to advances in technology like mobile applications and online platforms, millions of American workers now earn income through “gig” work, which allows them the flexibility to set their own hours and choose which jobs to take. To the surprise of many gig workers, the tax law considers them to be “business owners,” which subjects them to onerous recordkeeping and filing requirements, along with the obligation to pay quarterly estimated taxes. This Article proposes two reforms that would drastically reduce compliance burdens for this new generation of business owners, while simultaneously enhancing the government's ability to collect tax revenue. First, Congress should create a “non-employee withholding” regime that would allow online platform companies such as Uber to withhold taxes for their workers without being classified as employers. Second, the Article proposes a “standard business deduction” for gig workers, which would eliminate the need to track and report business expenses. Although this Article focuses on the gig economy as an illustration of how the workplace has evolved in recent years, the proposals could apply more broadly to taxation of small, individually run businesses. In an era when the use of cash is on the decline and information can be shared rapidly and at little cost, it is time for policymakers to institute a more modern tax enforcement regime for small businesses.

Tax Guide for Gig Workers

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Author :
Publisher : Nolo
ISBN 13 : 141332603X
Total Pages : 119 pages
Book Rating : 4.4/5 (133 download)

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Book Synopsis Tax Guide for Gig Workers by : Stephen Fishman

Download or read book Tax Guide for Gig Workers written by Stephen Fishman and published by Nolo. This book was released on 2018-11-12 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: Don’t sweat the IRS! The information you need to minimize your taxes and avoid audits. At least 10% of the American workforce are now gig workers who obtain jobs through online hiring platforms like Uber, Lyft, Upwork, TaskRabbit and many others. Gig workers are typically treated as self-employed, which means their taxes are far more complicated than those of traditional employees. Many gig workers lose valuable deductions or otherwise overpay their taxes or get in trouble with the IRS because they don't understand the tax rules that apply to them. Tax Guide for Gig Workers explains: how a gig worker is classified for tax purposes how to pay self-employment and estimated taxes what deductions to take how to lower their taxes by taking advantage of the new 20% pass-through deduction what records to keep, and more. Whether you drive for Uber or Lyft, code for Upwork clients, or perform paid chores through TaskRabbit, this book gives you the practical information you need to minimize your taxes while avoiding problems with the IRS.

Tax Tips With Jenn

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Author :
Publisher : Independently Published
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.3/5 (325 download)

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Book Synopsis Tax Tips With Jenn by : Jennifer Lynn Davis

Download or read book Tax Tips With Jenn written by Jennifer Lynn Davis and published by Independently Published. This book was released on 2024-07-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Welcome to your guide on maximizing tax deductions for self-employed and gig economy workers. Whether you drive for Uber, deliver food with DoorDash, host on Airbnb, create content on YouTube, or sell on Etsy, understanding how to track and claim your expenses is essential for minimizing your tax liability. This book is here to help you navigate the often confusing world of tax deductions and ensure you keep as much of your hard-earned money as possible.

The Gig Economy

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Publisher : AMACOM
ISBN 13 : 0814437346
Total Pages : 243 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis The Gig Economy by : Diane Mulcahy

Download or read book The Gig Economy written by Diane Mulcahy and published by AMACOM. This book was released on 2016-11-15 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, most Americans are working in the gig economy--mixing together short-term jobs, contract work, and freelance assignments. Learn how to embrace the independent and self-sufficient world of freelance! The Gig Economy is your guide to this uncertain but ultimately rewarding world. Packed with research, exercises, and anecdotes, this eye-opening book supplies strategies--ranging from the professional to the personal--to help you leverage your skills, knowledge, and network to create your own career trajectory. In this book, you will learn how to: Construct a life based on your priorities and vision of success Cultivate connections without networking Create your own security Build flexibility into your financial life Face your fears by reducing risk Corporate jobs are not only unstable--they’re increasingly scarce. It’s time to take charge of your own career and lead the life you want, one immune to the impulsive whims of an employer looking only at today’s bottom line. Start mapping out your place in the gig economy today!

Tax Treatment of Gig Economy Workers

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis Tax Treatment of Gig Economy Workers by : Cilluffo

Download or read book Tax Treatment of Gig Economy Workers written by Cilluffo and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Improving the Federal Tax System for Gig Economy Participants

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis Improving the Federal Tax System for Gig Economy Participants by :

Download or read book Improving the Federal Tax System for Gig Economy Participants written by and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Future of Work : the Gig Economy and Pressures on the Tax System

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (118 download)

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Book Synopsis The Future of Work : the Gig Economy and Pressures on the Tax System by : C.M. Black

Download or read book The Future of Work : the Gig Economy and Pressures on the Tax System written by C.M. Black and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In a number of common-law jurisdictions, gig workers (that is, workers who provide services through the use of web-based digital platforms) have recently sought to claim labour protections reserved for employees, such as the minimum wage, sick leave, and protection from unfair dismissal. These cases often involve the application of the multifactorial common-law test of employment to this new context, and the outcomes turn on the specifics of each case. In addition, classification as an employee has ramifications for a variety of tax matters. In this paper, the author considers whether the tax rules currently in place to capture non-standard employment arrangements have sufficient flexibility to capture gig workers. The focus of the analysis is Australian taxes (in particular, income tax, compulsory retirement savings contributions, and payroll tax), but reference is also made to similar issues under the laws of Canada. The author submits that, with respect to Australian income tax, gig work does not present a substantial risk to the tax base as a legal matter; however, a risk to the national revenue base comes from the compliance gap that is exposed when workers are no longer covered by employers' withholding mechanisms but are not picked up by tax administration regimes designed with larger businesses in mind. The author suggests that reliance on the registration of small businesses through the Australian business number, coupled with a new mandatory reporting regime for gig work platforms, would go a long way toward filling the transparency gap, and that doing so would both foster the voluntary compliance of gig workers and provide revenue authorities with data that could be used to detect non-compliance. A real risk exists that many gig workers will be outside the scope of the retirement contributions scheme and payroll tax and that the government, in consequence, will need to consider whether it is appropriate policy to change the law to include these on-demand workers.

Improving the Federal Tax System for Gig Economy Participants

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis Improving the Federal Tax System for Gig Economy Participants by : Watson

Download or read book Improving the Federal Tax System for Gig Economy Participants written by Watson and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Gig Economy

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Publisher : Greenhaven Publishing LLC
ISBN 13 : 1534507078
Total Pages : 178 pages
Book Rating : 4.5/5 (345 download)

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Book Synopsis The Gig Economy by :

Download or read book The Gig Economy written by and published by Greenhaven Publishing LLC. This book was released on 2020-07-15 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many, the gig economy is part of everyday life. It affects how our food and groceries are delivered, our transportation options, and where we stay when we travel. But while apps like Uber tend to receive the most attention, this shift in the labor market manifests in many different ways. Essentially, it applies to anyone who forgoes traditional full-time employment for temporary or contract-based work. Your readers will experience a wide range of viewpoints that consider how the gig economy has developed, its advantages and disadvantages for both workers and consumers, and whether regulation could help ensure its growth is beneficial to all involved.

J.K. Lasser's Guide to Self-Employment

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Publisher : John Wiley & Sons
ISBN 13 : 1119669561
Total Pages : 208 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis J.K. Lasser's Guide to Self-Employment by : Barbara Weltman

Download or read book J.K. Lasser's Guide to Self-Employment written by Barbara Weltman and published by John Wiley & Sons. This book was released on 2019-12-04 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: What every self-employed person needs to know about their taxes! If you’re self-employed, chances are the majority of your time is spent finding new customers or clients, servicing existing ones, and handling each and every aspect of your business. Freelancers, independent contractors, gig economy participants, and other individuals working for themselves need to be aware of their responsibilities when it comes to paying their taxes. Even if you have an accountant or use tax preparation software, you may not be aware of all the deductions and credits you are entitled to. That’s where the experts at J.K. Lasser come in. The second edition of J.K. Lasser's Guide to Self-Employment helps you file your taxes correctly, accurately, and on time. Using clear, jargon-free language, this bestselling guide explains the legal and financial implications of self-employment and shows you how to keep as much of your hard-earned money as legally possible. You will learn the essentials of tax reporting and see what types of valuable tax-saving deductions and credits you can claim. Fully updated to reflect changes in the tax code, this new edition features practical examples, easy-to-use worksheets, real-world tips, expert advice, and much more. A must-have resource for anyone who fills out a Schedule C at tax time, this book: Offers effective strategies for reducing your tax bill and increasing your cash flow Presents a detailed overview of the Schedule C that explains when, where, and what to file Explains how to protect yourself on a tax-advantaged basis with insurance, health coverage, and retirement plans Features advice on growing your business through technology and education programs Provides new and updated information on the qualified business income deduction, getting certified for government contracts, recent legislation that protects freelancers, and more Don’t let being a solopreneur and filing your taxes be a source of stress and anxiety for you and your business. J.K. Lasser's Guide to Self-Employment: Taxes, Strategies, and Money-Saving Tips for Schedule C Filersis here to help.

The Gig Economy

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Publisher : Polity
ISBN 13 : 9781509536351
Total Pages : 0 pages
Book Rating : 4.5/5 (363 download)

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Book Synopsis The Gig Economy by : Jamie Woodcock

Download or read book The Gig Economy written by Jamie Woodcock and published by Polity. This book was released on 2020-01-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: All of a sudden, everybody’s talking about the gig economy. From taxi drivers to pizza deliverers to the unemployed, we are all aware of the huge changes that it is driving in our lives as workers, consumers and citizens. This is the first comprehensive overview of this highly topical subject. Drawing upon years of research, stories from gig workers, and a review of the key trends and debates, Jamie Woodcock and Mark Graham shed light on how the gig economy came to be, how it works and what it’s like to work in it. They show that, although it has facilitated innovative new services and created jobs for millions, it is not without cost. It allows businesses and governments to generate value while passing significant risk and responsibility onto the workers that make it possible. This is not, however, an argument for turning back the clock. Instead, the authors outline four strategies that can produce a fairer platform economy that works for everyone. Woodcock and Graham’s critical introduction will be essential reading for students, scholars and general readers interested in the massive shifts that characterize our modern digital economy.

Tax Withholding and Estimated Tax

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Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Tax Withholding and Estimated Tax by :

Download or read book Tax Withholding and Estimated Tax written by and published by . This book was released on 1999 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Thriving in the Gig Economy

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Publisher : Apress
ISBN 13 : 1484240901
Total Pages : 229 pages
Book Rating : 4.4/5 (842 download)

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Book Synopsis Thriving in the Gig Economy by : Adam Sinicki

Download or read book Thriving in the Gig Economy written by Adam Sinicki and published by Apress. This book was released on 2018-11-08 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Take an in-depth look into the gig economy to see how tech professionals and entrepreneurs can earn a living as freelancers and contractors. Build your own business. The pros and cons of the lifestyle and what to expect from it are discussed. In this book, author Adam Sinicki explains the impact of the gig economy and the forces that led to it as it relates to technology and working online. You will understand how to make a living supplying tech skills on a "per gig" basis. Practical instructions, advice, and tips are provided on goal setting, lifestyle design, and selecting the types of work and contracts that further your goals and support the things you value as you transition from a 9-5 job. What You'll Learn Know the types of work that a tech freelancer can offer: coding, SEO, web development, 3D modeling, and more Find and manage clientsNegotiate pay and contractsStay productive without a managerDiscover useful tools, websites, and apps to build your business and ensure a steady income Who This Book Is For Entrepreneurs who are already a part of the gig economy and want to learn more about their options, tech professionals looking to transition to purely freelancing/contracting, companies interested in learning more about this change in the jobs market, technologists interested in exploring how the Internet is shaping the way people live and work, and professionals interested in lifestyle design or becoming "digital nomads"

Hustle and Gig

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Publisher : Univ of California Press
ISBN 13 : 0520971892
Total Pages : 288 pages
Book Rating : 4.5/5 (29 download)

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Book Synopsis Hustle and Gig by : Alexandrea J. Ravenelle

Download or read book Hustle and Gig written by Alexandrea J. Ravenelle and published by Univ of California Press. This book was released on 2019-03-12 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Choose your hours, choose your work, be your own boss, control your own income. Welcome to the sharing economy, a nebulous collection of online platforms and apps that promise to transcend capitalism. Supporters argue that the gig economy will reverse economic inequality, enhance worker rights, and bring entrepreneurship to the masses. But does it? In Hustle and Gig, Alexandrea J. Ravenelle shares the personal stories of nearly eighty predominantly millennial workers from Airbnb, Uber, TaskRabbit, and Kitchensurfing. Their stories underline the volatility of working in the gig economy: the autonomy these young workers expected has been usurped by the need to maintain algorithm-approved acceptance and response rates. The sharing economy upends generations of workplace protections such as worker safety; workplace protections around discrimination and sexual harassment; the right to unionize; and the right to redress for injuries. Discerning three types of gig economy workers—Success Stories, who have used the gig economy to create the life they want; Strugglers, who can’t make ends meet; and Strivers, who have stable jobs and use the sharing economy for extra cash—Ravenelle examines the costs, benefits, and societal impact of this new economic movement. Poignant and evocative, Hustle and Gig exposes how the gig economy is the millennial’s version of minimum-wage precarious work.

What To Do With Your Money When Crisis Hits

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Publisher : HarperCollins
ISBN 13 : 0358574285
Total Pages : 231 pages
Book Rating : 4.3/5 (585 download)

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Book Synopsis What To Do With Your Money When Crisis Hits by : Michelle Singletary

Download or read book What To Do With Your Money When Crisis Hits written by Michelle Singletary and published by HarperCollins. This book was released on 2021-05-18 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: From pandemics to recessions, bear markets to energy crises, life is full of financial setbacks. The hard truth is that it’s not a matter of if there will be another economic downturn, but when. The important question to ask is this: how do you prevent a crisis from turning into a full-blown catastrophe? Drawing on years of experience as an award-winning personal finance columnist, Michelle Singletary shares her expert advice for weathering a financial storm. In this book, she answers the most pressing questions that crop up when money suddenly becomes scarce, like: What bills need to be paid first? When is it right to dip into savings? What are the best ways to cut back on spending? How do you keep from panicking when the stock market is down? Is this “opportunity” a scam in disguise? This hands-on guide covers debt concerns, credit card issues, cash-flow problems, and dozens of other common financial matters. Whether you’re in the midst of one crisis or preparing for the next, this book provides the tools to secure your wealth and your future.