Gigs and Taxes

Overview

The rise of app-based services like Uber and Airbnb has changed how millions of people earn money and created new tax reporting needs. This course explains the federal tax rules that apply to ride-sharing drivers and short-term rental hosts. You'll learn how these workers should report their income and expenses, what tax forms they need to use, and what common deductions they can take. We cover practical issues like tracking mileage, calculating self-employment tax, and reporting rental income. The course also explains recent court decisions about worker classification and changing IRS requirements for the gig economy.

Find this course for your license

License or Certification

Regulator

Learning Objectives

Recognize the types of products and services that are typically performed within the gig and sharing economies and the online platforms or apps that support them
Recall the general nature of the ride-sharing and home-sharing services in the gig economy and identify the two largest companies operating in each of those markets
Recognize the general principles and forms involved in reporting ride-sharing and home-sharing business activities to the IRS
Recognize the nature of the growth trend predicted for the gig economy for the next five to ten years

Designed For:

CPAs, EAs, and other financial and tax professionals at any stage of their career

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Prerequisites:	This course is intended for tax professionals with an understanding of federal tax laws.
Advanced Preparation:	None

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