As a freelancer, you are required to pay taxes on your income. This includes income from Fiverr. The amount of tax you pay will depend on your location and the amount of money you make.
In the United States, the Internal Revenue Service (IRS) requires that you pay taxes on all income, including money earned through Fiverr. The IRS considers Fiverr earnings to be taxable “self-employment” income. This means that you will need to file a tax return and pay taxes on your Fiverr earnings each year.
The exact amount of tax you owe will depend on your tax bracket and the amount of money you make from Fiverr. However, you can expect to owe somewhere between 15-20% of your Fiverr earnings in taxes. For example, if you make $1,000 from Fiverr in a year, you can expect to owe $150-$200 in taxes.
If you are based in the United States, be sure to set aside some money each month to help cover your tax bill at the end of the year. You may also want to consider hiring a tax professional to help ensure that you are paying the correct amount of tax on your Fiverr earnings.
