As a freelancer, you are considered an independent contractor by the IRS and are thus responsible for paying your own taxes. While UpWork does not withhold any taxes from your earnings, we do provide you with a 1099-K form for tax purposes if you earn more than $20,000 and have more than 200 transactions in a calendar year.
As an independent contractor, you are responsible for paying your own taxes. This includes income taxes, self-employment taxes, and any other taxes that may be applicable to your situation.
While UpWork does not withhold any taxes from your earnings, we do provide you with a 1099-K form for tax purposes if you earn more than $20,000 and have more than 200 transactions in a calendar year.
Paying your taxes as a freelancer can seem daunting at first, but there are many resources available to help you understand and comply with your tax obligations. The most important thing is to stay organized and keep good records throughout the year so that you can easily file your taxes when the time comes.
If you have any questions about whether or not you need to pay taxes on your UpWork earnings, we recommend speaking with a tax professional. They will be able to assess your specific situation and advise you on the best course of action.
Do I Have to Pay Taxes for UpWork?
Yes, as a freelancer you are considered an independent contractor by the IRS and thus responsible for paying your own taxes.
While UpWork does not withhold any taxes from your earnings, we do provide you with a 1099-K form for tax purposes if you earn more than $20,000 and have more than 200 transactions in a calendar year.
Paying Taxes as a Freelancer:
Paying your taxes as a freelancer can seem daunting at first, but there are many resources available to help you understand and comply with your tax obligations.
The most important thing is to stay organized and keep good records throughout the year so that you can easily file your taxes when the time comes.
If you have any questions about whether or not you need to pay taxes on your UpWork earnings, we recommend speaking with a tax professional.
Conclusion:
Yes, as a freelancer working through UpWork you are considered an independent contractor by the IRS and thus responsible for paying your own taxes.
While UpWork does not withhold any taxes from your earnings (although they will provide you with a 1099-K form if necessary), it is important to keep good records throughout the year so that filing your taxes is easy come tax season.
If you have questions about whether or not you need to pay taxes on what you’ve earned through UpWork, we recommend speaking with tax professional who can advise based on unique circumstances
