Tag: gig economy

How Will Freelancing on the Side Affect Your Taxes?

How Will Freelancing on the Side Affect Your Taxes

Amherst, NH Resident Seeks Advice

It isn’t uncommon today, in this gig economy, for people to have side work beyond their full-time employment.  It is important to report, and pay taxes on, this additional income.  If your freelancing clients are paying you in excess of $600 per year each, should be sending out a Form 1099-MISC at the end of the calendar year as a record of this money paid.  When you file your taxes, all of this additional income made from freelancing should be reported to the IRS.

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