No matter what you call it — gig work, side hustle, freelance — if you earn income of $400 or more in a year, you’ll have to pay federal taxes on those earnings, along with contributions to Social Security and Medicare.
Figuring out what you owe can be especially tricky if you just started doing gig work, if you haven’t kept good records or if you haven’t set aside money during the year to cover your annual tax bill.
These tips from the Internal Revenue Service (IRS) can help you complete your taxes if you’re a gig worker and if you earn income from work that may not provide you with a W-2 or 1099 tax form at the end of the year.
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