Published: 2026-08-15
This article provides general information for reference purposes only and does not constitute professional legal, tax, medical, or financial advice. Rules and programs may change. Always verify current details with official sources or consult a qualified professional.
Do I need to pay taxes on gig income?
Yes, gig income is taxable. You must report it on your tax return, even if you do not receive a 1099 form. The IRS requires you to report all income, including from gig work and side hustles.
What is self-employment tax?
Gig workers are typically self-employed and owe self-employment tax, which covers Social Security and Medicare. This is 15.3% of your net earnings. You can deduct business expenses to reduce your taxable income.
What deductions can I claim?
Deduct business expenses like vehicle costs, phone, equipment, and supplies. Use the standard mileage rate or actual expenses for vehicle costs. Keep accurate records and consider quarterly estimated tax payments.