The taxing nature of the gig economy
“Millions have joined the gig economy,” said Aimee Picchi in USA Today. And although there are plenty of perks, such as flexible hours, for the estimated 41 million Americans participating, there’s also a big downside: taxes. The IRS expects gig economy workers who expect to owe more than $1,000 in annual tax to make quarterly payments. “Gig income can fluctuate month