Surgent's A Guide to Gig Economy Tax Issues

Course Details

Date

Friday, December 27, 2024

8:00am – 10:00am

Field of Study

Taxation

Course Number

SU0034

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Basic

Vendor

Surgent McCoy CPE, LLC

Prerequisites

None

Description

The IRS defines the "gig economy" as people earning income providing on-demand work, services, or goods on either a part-time or full-time basis. The economic times we live in are changing and tax practitioners must learn how the rules apply in this new gig economy. The tax rules that apply to gig workers challenge traditional ideas of who is an employee and who is an independent contractor, and tax practitioners must have the knowledge to make this determination. This program addresses federal and state tax issues tax practitioners must address with clients and their own workers.

Highlights

  • Characteristics of a gig economy
  • Who is an employee and who is an independent contractor?
  • Form 1099-NEC and reporting of non-employee compensation
  • Reporting on Form 1099-K
  • Gig workers and the requirement to pay self-employment tax throughout the year
  • State tax implications of remote work for the business owner and workers
  • How remote work creates state tax nexus
  • Tax implications of employee telecommuting for the employer
  • The “convenience of the employer” rule
  • Drivers of both people and of meals or other products
  • Section 199A deduction
  • Implications of the Vizcaino case

Objectives

  • Understand and advise clients regarding the new tax issues that have arisen as a result of the growth of the gig economy

Designed For

Tax practitioners advising clients who are participating in any aspect of the gig economy

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$99.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$149.00
Your Price $149.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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