Top Mistakes Freelancers and Gig Workers Make When Filing Taxes

March 8, 2023, 3:15 PM UTC

You can escape a traditional 9-to-5 job, but you can’t escape taxes.

That’s what a new batch of freelance workers and side hustlers are learning now that tax season is underway. While it’s never fun or easy to tally up your bill to Uncle Sam, those who are self-employed face a particularly complicated process because there’s no company payroll department to compile income figures or withhold taxes.

And with a record 60 million Americans freelancing last year — about 39% of the workforce, up from 36% in 2021 — more people than ever are navigating confusing tax questions. Most issues revolve around accurate record-keeping. Think ...

Learn more about Bloomberg Tax or Log In to keep reading:

See Breaking News in Context

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools and resources.