#196 | Gig Worker Taxes 2023 (part 1 of 2)

Gig Worker Taxes 2023: Join Ron (Enter Courier) and myself as we take a look what gig workers need to know before filing taxes in 2023.

• Intro
• You're being taxed as a small business owner
• You're on your own for withholding and paying your taxes
• Your gig taxes are based on profits, or what's left over after expenses
• You can write off your business expenses even if taking the standard tax deduction
• Mileage is usually your best write off, and it's not even close
• The important tax form you need is Schedule C
• You also have self-employment tax (Social Security and Medicare) based on IC profits
• Add your IC profits to other income (W2's etc) to determine taxable income for income tax purposes
• Total taxes (income+self-employment) minus payments credits and withholding determine your final pay-in or refund amount
• Outro

.:: BECOME A PATREON MEMBER ::.
https://patreon.com/ridesharerodeo