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What Taxes do Gig Workers Pay?

2022 – 07/18 If you’re a “gig worker” or freelancer, your tax obligations are different from an employee’s. You’re considered self-employed, so clients don’t withhold taxes from your payments. But even if they don’t send you information returns (such as Form 1099-K), you owe tax on that income. Gig workers may have to pay quarterly estimated taxes. Or, if you also have a job as an employee, you can have your employer withhold more tax from your paychecks. Keep in mind that you may be able to deduct business expenses for gig work, which can lower your income tax liability. It’s essential to keep good records. More information: https://bit.ly/3IFLh8v

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