If you have lots of jobs and sources of income it can be hard to figure out what counts as freelance; what part is taxed, what part isn’t, and all the different ways this stuff is categorized. We’re here to help!
You are legally obligated to report your income!
In the past, if you hired other freelancers or contractors to help with your business, you had to fill out a 1099-MISC. Starting in 2021, you’ll need to fill out a 1099-NEC instead.
Every person or company you worked for may not issue you a tax form.
If you're a freelancer, you definitely want to keep track of your expenses. Here's why.