Tax Q&A for self-employed technicians
November 24, 2021
November 24, 2021
When is the perfect time to start planning for tax season? Every day! Have you ever rushed to gather your information right before the IRS due date? Creating daily habits, such as storing data, receipts, or tracking business miles using an app, will help you run your business efficiently, and tax filing will be much less stressful. To help you prepare, we’ve compiled some of the most common tax questions we hear from our technician community.
Independent contractors use 1099 forms to report their income to the IRS. If you are a U.S. taxpayer, Field Nation will report what you earned for work completed on the Field Nation platform using a 1099-K form.
When you complete your Tax Information on the Field Nation platform, you indicate the state in which you live and work. Field Nation reports your income to the state listed in your Tax Information. If you perform services outside the state you live in, you should allocate the income and expense amounts to those states on your tax return.
Field Nation will send your 1099 either electronically or via postal mail based on the delivery method you selected in your Tax Information. The 1099 form is available electronically on Jan 1st or if postal mail was selected, it will be mailed no later than Jan 31.
Your Field Nation 1099 includes all earnings and additional charges (such as materials, supplies, and travel) that you billed on the platform. In addition, 1099-K forms report your gross pay, including any Field Nation service fees and insurance costs associated with your work on the platform.
We can’t tell you which tax deductions you are or are not entitled to take, but here are a few of the most common tax deductions for independent contractors that use the Field Nation marketplace:
You can download your 1099 by navigating to Profile Settings/Tax Records. This article includes additional details about accessing your Field Nation-generated 1099.
If you have questions or need a correction to your 1099, please submit a case to Field Nation.
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