As an independent contractor, you’re responsible for paying your own taxes. This means that, come tax season, you’ll need to file a 1099 form for any freelancing work that you completed during the year.
But what if you used a site like UpWork to find and complete your freelancing gigs? Do you still need to file a 1099 form?
PRO TIP: If you are thinking about hiring someone through Upwork, be warned that you may need to send them a 1099 form come tax time. The 1099 form is used to report income earned from freelance or contract work, and if you pay someone $600 or more through Upwork in a given year, you will need to send them a 1099.
The answer is yes. Even if you found your clients through a third-party site like UpWork, you’re still considered an independent contractor. This means that you’re responsible for filing a 1099 form for any work that you completed during the year.
Filing a 1099 form is simple. Just gather up your information – including the name and address of each client that you worked with, as well as the total amount of money that you earned from them – and submit it to the IRS. You don’t need to send a 1099 form to UpWork or any other third-party site.
Conclusion: You should always file a 1099 form for any freelancing work that you completed during the year, regardless of how you found your clients. Filing a 1099 form is easy and only requires some basic information about your freelancing gigs.
4 Related Question Answers Found
There are many different types of independent contractors out there. You may have heard of some of them, such as Uber drivers, Airbnb hosts, or Amazon delivery drivers. But there are many others who provide services through online platforms, such as UpWork.
As a freelancer, you’re probably always on the lookout for new job opportunities. You may have heard of a popular website called UpWork. But what is UpWork, and does it do 1099?
The short answer is no, you will not receive a 1099 from UpWork. However, if you are paid in cryptocurrency, you may receive a 1099-K from the IRS. For more information, please see the following article:
What is a 1099-K and why do I need it
An important clarification to make is that, even if you do not receive a 1099-K from the IRS, you may still need to report your income and pay taxes on it.
According to the IRS, if you are an American worker and you are paid $600 or more by a company for services you provide, the company is required to send you a 1099 form by January 31 of the following year. The 1099 form is used to report your annual income, and it is also used to report any independent contractors that the company hired during the year. If you are hired by a company through UpWork, the company is required to send you a 1099 form if they pay you $600 or more.
