What is the Gig Economy?
Click Here to Manage Taxes For Your Gig Work
Here's how to manage taxes for gig work as an independent contractor (self-employed).
The gig economy—also called sharing economy or access economy—is activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website.
Gig Economy Income is Taxable
You must report income earned from the gig economy on a tax return, even if the income is:
- From part-time, temporary or side work
- Not reported on an information return form—like a Form 1099-K, 1099-MISC, W-2 or other income statement
- Paid in any form, including cash, property, goods, or virtual currency
What are Digital Platforms?
Digital platforms are businesses that match workers’ services or goods with customers via apps or websites. This includes businesses that provide access to:
- Ridesharing services
- Delivery services
- Crafts and handmade item marketplaces
- On-demand labor and repair services
- Property and space rentals
Note: This list does not include all types of digital platforms.
Click Here to Manage Taxes for a Digital Platform
Here’s how to manage taxes for a digital platform or business.