The gig economy provides over 55 million people a way to earn income to meet their financial goals. Unfortunately, many workers don't realize they're not employees of the companies they work for but rather independent contractors, which causes them to make these two mistakes with their taxes that often lead to IRS trouble.
Underreporting Income
When you are an employee, your employer is responsible for reporting your income and the amount of taxes it withholds to send to the IRS, which is one reason why you get a W-2 at the end of the year showing how much was reported so you can verify you paid the right amount of taxes.
- If you have been arrested for a DUI, then you want to get yourself a DUI attorney. There are a lot of reasons why this is a very good idea and something you don't want to make the wrong decision on. Hiring a lawyer will give you an experienced person to plead your case, significantly improving your chances of having the arrest affect your life in as minimal an amount as possible.
- When it comes to automobile accidents, rarely is it the vehicle that is dangerous. Instead, it is the driver that poses the threat, especially when it comes to a fatigued or drowsy driver. When an individual gets behind the wheel in this state and causes an accident, they must be held liable for the unnecessary damages they have caused. Learn about some of the factors that can impact this type of accident claim.
- For those released on bail, keeping on the right side of the law is the key to avoiding problems. Bail can be revoked under certain conditions and this situation is almost always 100% avoidable. To find out more about bail conditions and what might happen when they are not met, read on. Bail is a Must-have You probably don't need to be reminded of how bad being in jail can be.
- When it comes to real estate transactions, there is a lot of negotiations and paperwork involved. There are a number of documents that are important, but one of the most important of these documents is the disclosure report. In real estate law, it is required that the seller of a property provides the disclosure report to the buyer once an offer has been made and received on a piece of property.