Gig Economy Tax, Oh my!
By Arisay Otero-Sánchez, EA, CFE, New Jersey's local Tax Resolution Firm
(AMOS Tax Services, LLC)
If you use one of the many online platforms available to rent the third bedroom, provide car rides, or connect with customers to provide other goods or services, you're probably involved in the gig economy. And just like any other job, money earned through the gig economy is taxable. It’s a new business model and an emerging area in the past few years for people to make money from their gigs or part-time jobs or sidekick businesses. It’s also known as the on-demand, sharing, or access economy. The gig economy has changed how people commute, travel, rent vacation places and perform many other activities. It allows individuals and groups to use technology to arrange transactions that generate revenue from assets such as boats, and homes, or from services they provide such as rides, hou...
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