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
Type
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
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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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