Wolters Kluwer has prepared a special report on the tax impacts of the sharing economy. The sharing, or gig, economy utilizes technology to arrange transactions that generate revenue from an individual’s assets, such as cars and homes, or services, such as household chores or delivery services. This report includes information on income recognition, the employment status of sharing economy workers, filing/payment requirements, and available deductions.
You can view the report here.
Please feel free to reach out to us with any questions about the sharing economy.