Gig Economy Tax Considerations for the 2017 Tax Year and onwards

For those of our clients who work with short-term contract employment or work with ride-sharing services, the IRS has released some helpful information regarding tax consequences of this income. Among these are quarterly tax payments, especially if you are regarded an independent contractor (receive a 1099 tax form and do not pay withholding).

Please review this IRS posting and contact us:

https://www.irs.gov/businesses/small-businesses-self-employed/sharing-economy-tax-center

Mike

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