What Gig Workers Need To Know About Taxes
Denver Post, The
Many Americans have joined the gig economy since the pandemic.
If you became a gig worker during the pandemic, beware: Your taxes just got more complicated.
Gig work - Uber driving, Instacart shopping, Amazon Flex delivery and so on - is on-demand, freelance work that's typically taxed as self-employment. Instead of having an employer withhold money from your paycheck, you're an independent contractor who is expected to pay taxes on your gig income as you earn it. You'll also owe a larger share of your pay to Social Security and Medicare taxes.