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But theres good news for those workers.
Now gig workers have additional opportunities for deductions that could reduce tax bills.
Still, doing taxes as a gig worker can be difficult.
Forgig workers who also want to reduce their tax headaches, here are a few ideas.
Hire a Professional
This tip may apply to just about any taxpayer.
Hiring a professional can help make tax season go smoother.
News & World Report, tax professionals can help filers avoid mistakes and maximize deductions.
Keep Organized
Keeping organized can help reduce stress as a gig worker.
This may be especially true when it comes to tax time.
TheIRSrecommends gig workers keep records during the year.
PerTaxAct, organizing your work and pay records can make the entire tax process much easier and less stressful.
Apps commonly used in gig work can also help streamline this process.
Understand Tax Obligations
This is also an area where a tax professional may prove useful.
Gig workers need to understand how theyre classified for tax purposes and the obligations they face.
Knowing this information from the start can make the entire tax process much easier.
For example, some gig workers may need to pay quarterly estimated taxes, perH&R Block.
Knowing tax obligations ahead of time can help gig workers avoid costly mistakes.
Plan Ahead
For anyone filing taxes, planning ahead is important.
But that can be especially true for gig workers.
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