Taxes Made Easy-Gig Work Filing, Expenses & Deductions

Explore the gig economy definitions, digital platforms, and practical examples of gig work, and understand tax implications for platforms and individuals.

Identify digital platforms that match service providers with customers via apps or websites for gig work. Show examples: ride sharing, delivery services, handmade item marketplaces, on-demand labor, repairs, and rentals.

Identify your gig worker type to determine deductible expenses, tax withholding, and payment responsibilities, whether you are an independent contractor, self-employed, W-2 employee, or misclassified or unclear status.

Understand how a W-2 employee differs from an independent contractor through employer control over work and how wages are taxed under FICA and withholdings.

Discover how to resolve misclassified worker status by filing form ss-8 with the IRS to obtain a determination of employee versus independent contractor; processing may take at least six months.

Report all gig economy income on your tax return as an independent contractor using Schedule C and self-employment tax; gig income is taxable and platforms report payments to the IRS.

Learn the basics of the Schedule C on IRS form 1040 for self-employed, including income, expenses, cost of goods sold, vehicle costs, and other expenses, plus how tax software auto-fills.

Explore the different gig income types and corresponding 1099 forms, including 1099 miscellaneous, 1099 k, 1099 b, bartering, cash, virtual currency, and tip income.

Learn how 1099-NEC reports nonemployee compensation for freelancers and independent contractors, including when a payee is paid more than $600 and how self-employment tax applies.

Learn how 1099-K income and form 1099-K report payment card and third-party network transactions from debit, credit, or store-valued card payments, with a $600 threshold in 2021.

Explore how 1099-B income arises from bartering goods or services, and when barter exchanges trigger a 1099-B form, with examples like plumber trades dental services and web development barters.

Learn how cash payments from gigs by independent contractors are reported on schedule C part one line one as gross receipts or sales, alongside 1099 miscellaneous and 1099 NEC income.

Learn how virtual currency payments are taxed: treat digital assets as property for gains or as income for services, using fair market value in USD.

Explore tip income from gig apps, including 1099 reporting and IRS requirements, and learn to add tip income to the gross receipts on Schedule C line one.

Section 179 deduction lets businesses and self-employed individuals deduct the full cost of a qualified asset in the purchase year, lowering current tax liability instead of depreciating it.

Compare auto expense options for gig work: standard mileage rate versus actual expenses, with software indicating the larger deduction; track depreciation, gas, tolls, lease payments, repairs, tires, and insurance.

Identify deductible bank fees tied to a business account, including monthly maintenance, overdraft, ATM, late fees, and credit card or loan setup costs. Include liability and errors and omissions insurance.

Learn how subcontractors fit under you as the independent contractor in gig work, deduct payments, and file 1099-NEC reports for contractors paid over $600, with PayPal or credit card exceptions.

Learn how commissions paid to affiliate partners are tax deductible and reportable with Form 1099, when earnings exceed $600, with affiliates treated as independent contractors.

Discover how to deduct computer and tech equipment costs, from laptops to chargers, and deduct dues for professional memberships that support networking and insights for gig work.

Learn how to deduct equipment rental costs for gig work and claim gifts up to $25 per person per year.

Learn to write off event costs for gigs, including food and drinks, paper goods, tables, chairs, linens, and staff like bartenders, venue rental cars.

Learn to deduct furniture and decor costs for gig workspaces, including home, office, or offsite setups. Cover desks, chairs, shelving, lighting, and decor such as curtains, rugs, plants, and artwork.

Self-employed individuals can deduct health insurance premiums under personal medical expenses with net Schedule C profit and no employer plan or spouse enrollment; deduction equals net profit up to premiums.

Identify the home office qualifications—exclusive, regular business use of a dedicated space—and apply the business percentage to indirect expenses such as mortgage payments, utilities, and taxes to claim deductions.

Deduct interest on business loans or business-use credit cards, and deduct licenses and permits required for gig work, including local, state, and federal agencies.

Learn how merchant processing fees affect gig income and how to write off the 2 to 4% charged by Square, Stripe, PayPal, and Authorize.net.

Deduct photography and videography equipment used for gig work, including cameras, lenses, lighting, audio, SD cards, and cables; decide whether to write off in a year or depreciate over time.

Deduct professional fees from lawyers and accountants strictly for business use, and deduct US office supplies: paper, pens, notebooks, sticky notes, and printer ink for your gig work.

Learners identify deductible software expenses, including one-time purchases, ongoing subscriptions for scheduling, task management, and accounting software, plus cloud-based storage and business apps.

Deduct professional development for your gig work by paying for classes, training, online and in-person workshops, certifications, conferences, and industry books or journals to improve your skills.

Discover how to deduct rent for various business spaces beyond your home office, such as client offices, workshop spaces, storage units, and co-working spaces.

Discover how repairs and maintenance for rented spaces are tax deductible, and deduct shipping and postage fees used for gig work, including packaging and shipping products.

Identify deductible supplies for gig work by linking purchases to your tasks, such as weights or dog toys, ensuring they relate to your gig activities.

Learn how self-employed individuals deduct business use of cell phones and home internet based on the share of business use versus personal use, including limits on the first landline.

Learn how gig workers deduct travel expenses, distinguishing out-of-town trips from travel near principal place of business, including airfare, lodging, car rental, taxis, rideshares, public transit, baggage, and 50% meals.

Deduct website expenses such as hosting, domain registrations, themes and plugins, and subscription website builders. Hire independent contractors for design and maintenance, who may need to receive a 1099 form.

Learn to pay estimated taxes for gig earnings with quarterly due dates and online, mail, or phone payments. If you have a W-2, withholding may cover gig taxes.

Keep track of gig income and expenses, organize records by year and type, and retain receipts and supporting documents for required retention period to simplify tax filing and substantiate deductions.

Explore section nine resource links with live, clickable items for extra information, and learn the process behind the software as tax software auto calculates tax math and deductions.

Review the course bibliography and understand how references are cited throughout the curriculum and on each slide.

Celebrate completing the taxes made easy gig work course and apply the covered concepts of gig work filing, expenses, and deductions, including business use of your home.