“Gig” a long-forgotten word that often described a musician’s weekend work. Today it has been broadened, techtarget.com has the following definition “it is a slang word for a job that lasts a specified period of time. Examples include freelancers, independent contractors, temporary or part-time hires.” COVID has changed financial situations for many and now some my find themselves for the first time or once again doing gig work. Today’s gig can mean being a driver for Uber, Lyft, or Door Dash, being a photographer, influencer, “secret shopper” and more.
It is important to note that the IRS finds gig work TAXABLE!! This link will take you to an IRS Tax Tip posted on June 27, 2022, that explains what you need to know about reporting that additional income. https://www.irs.gov/newsroom/here-are-some-things-gig-economy-workers-should-know-about-their-tax-responsibilities
If you have any questions or need further explanation, give us a call at 606-585-0131. We are here to help you!!
The Darlings