Nearly one in three Americans are now self-employed, and sites such as Airbnb, Etsy, Kickstarter and TaskRabbit are helping anyone to monetize their assets and talents. However, with these new modes of income come tax implications that can cause headaches for freelancers. Created by the Collaborative Fund, 1099.is is a new site that aims to answer users’ questions about making money from the web.
With a focus on crowdfunding, online marketplaces and resource sharing, the site lists a number of questions that workers may have about how they should fill in their tax returns when they have made or want to make regular money from the sharing economy. The site already covers topics such as building a business, creating an LLC, equity and even income from bartering, but users can also add their own questions, which are answered by experts from the Collaborative Fund, who have experience in succeeding in building web-based businesses.
As the sharing economy grows, this kind of resource could be helpful for those wanting to boost their income through the web or even swap their 9 to 5 job for self employment.