you need to report your new side hustle income on your tax return. But before getting started, it’s essential to understand all the possible side gig work tax implications so you aren’t hit with a surprise tax bill or tax penalty come tax time. ...
Sellers on eBay, Airbnb, and others in the UK may soon face some interest from the country's tax body, with digital platforms now obliged to report the financial details of some users to His Majesty's Revenue and Customs. Online selling has become a handy way for people to create ...
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HMRC is writing to individuals who may have tax to pay on online marketplace sales made in 2022/23 and earlier tax years. Separately, HMRC has launched a new campaign to help people understand the tax implications of their ‘side hustles’. VAT compliance controls: new guidance from HMRC ...
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10. You started a side hustle Freelancers, independent contractors, and the like usually get a 1099-NEC (non-employee compensation) form, a record of how much a business paid you. If you receive more than $5,0001in payments through third-party platforms like Venmo and PayPal, you'll likel...
The Importance of Registering for Side Hustles (Lazada Affiliates, etc.) Side hustles are a great way to supplement your income, and they’ve become more accessible than ever. With platforms like Lazada offering affiliate programs, you can earn commissions by simply sharing links and promo codes...
On the Gov.uk website, you can find the most common expenses you canclaim for self-employedand the most common expenses you canclaim for if you rent out a property. Free webinar: Get organised for Self Assessment Need support with your tax return? Join this free, on-demand webinar to ...
If you’re ready to file your taxes online on your own (because you’re just that awesome), check outRamsey SmartTax. It’s tax software that’s both easy to navigate and affordable, so you can file your return with confidence.
TurboTax Live Deluxe adds live, onscreen, on-demand help from a tax professional to the most popular TurboTax software. For any taxpayer who wants to make sure they claim all available deductions and credits, with the guarantee of a tax expert’s advice, the TurboTax Live Deluxe option is ...