As a freelancer, you’re used to getting 1099s at the end of the year. But what if you start working with a new client who wants to pay you through UpWork? Do you get a W2 from UpWork?
The answer is no, you don’t get a W2 from UpWork. UpWork is considered a marketplace platform, similar to eBay or Amazon.
When you make a sale on eBay or Amazon, they don’t issue you a W2. The same is true for UpWork.
PRO TIP: If you are an Upwork contractor, you will not receive a W2 form. You will receive a 1099-MISC form for any work completed through Upwork that totals $600 or more in a year.
However, that doesn’t mean that you don’t have to pay taxes on your earnings. You are still responsible for paying taxes on any money you earn through UpWork.
You will just need to file your taxes differently. Instead of getting a W2 from your employer, you will need to file a 1099.
If you’re not sure how to file your taxes as a freelancer, there are plenty of resources available to help you. The IRS has a helpful guide for self-employed taxpayers. You can also find plenty of articles and guides online from other freelancers who have been in your shoes.
In conclusion, while you don’t get a W2 from UpWork, that doesn’t mean you don’t have to pay taxes on your earnings. You are still responsible for paying taxes on any money you earn through the platform.
4 Related Question Answers Found
As a freelancer, you are probably always on the lookout for new opportunities to help you grow your business. One great way to find new clients is through online platforms like UpWork. But before you can start working with a new client, they will likely ask you for a W9 form.
As the world increasingly moves towards a global economy, the need for international cooperation and understanding becomes more important. The internet has played a big role in bringing the world together, and online freelancing platforms like UpWork have made it possible for people to work together from anywhere in the world. One of the things that makes UpWork different from other freelancing platforms is that it requires all users to fill out a W8ben form.
As an independent contractor, you are responsible for paying your own taxes. You will not have taxes withheld from your earnings, as is typical with traditional employment. This means that you will need to set aside money throughout the year to ensure that you can pay your taxes when they are due.
The Internal Revenue Service (IRS) requires that all businesses provide a W9 form to any individual or entity that they pay $600 or more to in a given year. The W9 form provides the paying business with the individual’s or entity’s Taxpayer Identification Number (TIN), which the business will use to prepare a 1099-MISC form at the end of the year. So, does UpWork give W9?
