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 accounting and finance professionals 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 accounting and finance professionals must have the knowledge to make this determination. This program addresses federal and state tax issues accounting and finance professionals must address with clients and their own workers.

Instructor: Mike Tucker, Ph.D., LL.M., J.D., CPA

Target Audience

Accounting and finance professionals advising clients who are participating in any aspect of the gig economy

Course Objectives

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

Subjects

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