The nasty secret of being a new entrepreneur is that your tax bill might be way higher than you’d imagine.
When you’re driving for Uber, delivering for Amazon, picking up freelance jobs or otherwise participating in the gig economy, you aren’t working for a boss who is required to withhold taxes from a regular paycheck. As a result, you’re subject to some fairly complex tax rules.
On-demand workers don’t have the luxury of only paying attention to income taxes in March or April, either. If you don’t pay enough taxes throughout the year, you could be hit with steep penalties.
About 24 percent of American adults earned money selling something online, renting out their...