There are a lot of questions out there about UpWork and taxes. Does UpWork do your taxes?
The simple answer is: no, UpWork does not do your taxes. But there’s a little more to it than that.
First, let’s start with the basics. UpWork is a platform that connects freelancers with clients.
When you work with a client through UpWork, you’re considered an independent contractor. That means that you’re responsible for your own taxes. The client who hires you through UpWork is not responsible for withholding or paying any taxes on your behalf – that’s all on you.
Now, this might sound a little daunting, but don’t worry – there are plenty of resources out there to help you figure out your taxes as a freelancer. And if you’re ever in doubt, you can always consult with a tax professional.
But what about those 1099 forms? Every year, UpWork issues 1099 forms to any freelancer who has earned $600 or more through the platform in the previous calendar year.
The 1099 form is an important tax document – it reports your earnings to the IRS and is used to file your taxes. So while UpWork doesn’t do your taxes for you, they do provide you with the information you need to accurately file your taxes as a freelancer.
So there you have it – everything you need to know about whether or not UpWork does your taxes. Now get out there and start freelancing!
