Gig work offers flexibility, autonomy and a way to earn income, but it comes with tax obligations that may catch you off guard. Whether you drive for a rideshare service, deliver food, sell products online or offer pet walking services, it’s crucial to understand the tax implications to stay compliant and avoid costly surprises. Generally, if you receive income from a gig, it’s taxable. That’s true even if you don’t receive a 1099-NEC reporting the money you made. You may need to make quarterly estimated tax payments (the next is due June 16) because the income isn’t subject to withholding. Business expenses may be deductible, subject to the normal tax rules. Contact us to learn more.
