TAX TIME reminders-Private trainers, Side hustlers, Field squatters + Parents

[Guest]

Issue Number: Tax Tip 2023-42

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All income is taxable, including gig economy
It’s important for taxpayers to file a federal tax return that has a complete and correct reporting of their income – which may mean including income from sources other than regular wages from an employer. Income from gig economy activities and tip income are two common sources of such income.
Gig economy earnings are taxable
The gig economy is an activity where people earn income providing on-demand work, services or goods, such as selling goods online, driving a car for deliveries, private training or renting out property. This income is often received through a digital platform like an app or website.
Taxpayers must report income earned from the gig economy on a tax return, even if the income is:

• From part-time, temporary or side work.
• Paid in any form, including cash, property, goods or digital assets.
• Not reported on an information return form like a Form 1099-K, 1099-MISC, W-2 or other income statement.

For more information taxpayers should visit the gig economy tax center page of IRS.gov.

[Guest]

Issue Number: Tax Tip 2023-42

---

All income is taxable, including gig economy
It’s important for taxpayers to file a federal tax return that has a complete and correct reporting of their income – which may mean including income from sources other than regular wages from an employer. Income from gig economy activities and tip income are two common sources of such income.
Gig economy earnings are taxable
The gig economy is an activity where people earn income providing on-demand work, services or goods, such as selling goods online, driving a car for deliveries, private training or renting out property. This income is often received through a digital platform like an app or website.
Taxpayers must report income earned from the gig economy on a tax return, even if the income is:

• From part-time, temporary or side work.
• Paid in any form, including cash, property, goods or digital assets.
• Not reported on an information return form like a Form 1099-K, 1099-MISC, W-2 or other income statement.

For more information taxpayers should visit the gig economy tax center page of IRS.gov.

Say this to their faces.

[Guest]

I just send them a 1099

[Guest]

Say this to their faces.

This is directly from the IRS to them specifically.

https://www.irs.gov/newsroom/all-inc...and-tip-income

All in plain sight these days, no need to get defensive.

BTW the clown that said they sending a 1099, thanks for the laugh.

You're not supposed to say this to their face we are told, so it's doubtfull they're gonna give you their social security number face to face.

[Guest]

This is directly from the IRS to them specifically.

https://www.irs.gov/newsroom/all-inc...and-tip-income

All in plain sight these days, no need to get defensive.

BTW the clown that said they sending a 1099, thanks for the laugh.

You're not supposed to say this to their face we are told, so it's doubtfull they're gonna give you their social security number face to face.

Fragile dudes with no balls

[Guest]

Fragile dude$ with no ball$

Private trainers described. Spot on.

[Guest]

This is directly from the IRS to them specifically.

https://www.irs.gov/newsroom/all-inc...and-tip-income

All in plain sight these days, no need to get defensive.

BTW the clown that said they sending a 1099, thanks for the laugh.

You're not supposed to say this to their face we are told, so it's doubtfull they're gonna give you their social security number face to face.

No. You wouldn’t say this to their face.

[Guest]

No. You wouldn’t say this to their face.

You have a point, since they are two-faced scumbags.

[Guest]

You have a point, since they are two-faced scumbags.

A better reply would have been, “which face”

Please use this next time

[Guest]

2 faced is spot on...they tale our money.. then tell us the lad is great and really improving, btw...time for a new 6 pack purchase....then they tell their mates ( othe flunkie coaches) how useless the kid is, foolish yank.parents fall for this time after time..carry on wankers.

[Guest]

2 faced is spot on...they tale our money.. then tell us the lad is great and really improving, btw...time for a new 6 pack purchase....then they tell their mates ( othe flunkie coaches) how useless the kid is, foolish yank.parents fall for this time after time..carry on wankers.

Man types anonymously that he has an accent and thinks he knows what he’s talking about.

[Guest]

If you pay more than $600 for private training, then you should be filing a 1099 unless the trainer is an employee of a larger organization.

[Guest]

What line time does a loss like embezzlement fall under? Asking for an LO friend

[Guest]

If you pay more than $600 for private training, then you should be filing a 1099 unless the trainer is an employee of a larger organization.

Just as a folllow up.

When you’re self-employed, 'trainer' you’ll usually file a tax return and pay taxes quarterly, such as income taxes and self-employment taxes for Social Security and Medicare.

Self-employed workers typically have to pay taxes when they earn a minimum of $400. However, even with a self-employment income of less than $400, other requirements may apply. So it’s a good idea to review Forms 1040 and 1040-SR or consult a professional.

[Guest]

Man types anonymously that he has an accent and thinks he knows what he’s talking about.

Private Trainer described in Oregon