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In yesterday’s world, a gig was a performance by a musician or a comedian. But now it is seen as an income-earning activity from a variety of sources and not originating from one employer or source. Thus, it casts a wider net. This webinar by Anthony Curatola highlights the emerging gig economy in the United States and worldwide and the classification of gig workers as hobbyists, employees, or independent contractors. In addition, Tony will discuss the tax reporting issues associated with these workers.
To fully capture this revenue source, Treasury reintroduces Form 1099-NEC as a reporting tool for payments to independent contractors. In addition, Treasury introduces Form 1099-K for reporting of transactions via 3rd parties, which in many situations applies to gig transactions. In conclusion, the session will take a close look at the tax penalties associated with both the gig workers and tax preparers.
Who Should Attend
Accountants, Tax Accountants, Tax Preparers, Enrolled Agents, Laywers, CFOs
|Dec 05, 2023||SECURE 2.0 Act Decoded: Navigating Retirement Plan Updates!||90 Mins||$199.00|