If you participate in the sharing economy by working as a 1099 contractor or by renting your home on Airbnb, you know that you will likely be required to pay taxes on your income. But just how much do you need to save in order to cover your tax payments? Here is a brief guide to help you determine how much to put aside for Airbnb and 1099 contractor taxes.1099 ContractorsIn most cases, sharing economy workers are considered as 1099 contractors for tax purposes. The only way you would not be cons […] […]
Category: Rideshare Taxes
How to Register Your Rideshare Business in San Francisco
According to the new regulations, all Rideshare Drivers in San Francisco are required to Register their business. You can do so online on the San Francisco Treasurer and Tax Collector website. Below is a step-by-step guide on how to register your business: The first step in the registration process is filling out and submitting the […]
Should I Incorporate or LLC My Rideshare Income?
Within our first year of business, we are fortunate enough to have served over 500 potential clients. One question we often get from Rideshare Drivers is: “Should I incorporate or LLC my driving income?” While we are not lawyers and cannot give legal advice, we can speak about the tax filing requirements. Below are a […]