Gig Economy Worker or Freelancer: Tax Tips for You

August 2, 2018 by OSYB Staff

What is a gig economy worker?  Gig workers are defined as those that work for a short or undetermined amount of time and this is the new normal for a jobs workforce, as discovered by a survey commissioned by BMO Wealth Management.

So if you are a freelancer or a gig worker, Don’t Mess with Taxes shares 5 tax tips with you:

1. Know your earnings form
2. Report gig income and deduct expenses
3. Pay your self-employment taxes – earning more than $600 requires payment of self-employment taxes
4. Pay your estimated taxes – make quarterly payments
5. Take care of yourself – healthcare and retirement planning

For detailed information:  5 tax tips for freelancers, gig economy workers 

Image Credit:  Deposit Photos