You know how when somebody tells you not to touch your face while you are going outside with your face mask? That is when you suddenly become conscious of an itch. Don’t you just hate that? With the coronavirus still raging on and giving us a reason to wear a face mask and keep six feet apart from strangers, it is starting to become annoying.
In 2020, many people joined the gig economy to help make ends meet during the pandemic. Whether it’s a side business or a primary source of income, all taxpayers need to understand how their gig work affects their taxes. The bottom line is taxpayers must report gig economy income on their tax return.