September 29, 2021
Two Of The USA’s Largest Tax Preparation Companies Confirm Gig Workers Must Separate Business vs. Personal Usage & Cost On Their Smartphones
Direct quote from Intuit/Turbo Tax on their tax advisory note dated July 1st, 2021 :
Separate your personal expenses from your business expenses by calculating the portion of your costs used for delivering food.
• If you have an expense that is both personal and business, then you need to allocate it between the two.
Intuit Source : https://turbotax.intuit.com/tax-tips/self-employment-taxes/filing-taxes-for-on-demand-food-delivery-drivers/L7dIkSK6I
Direct quote from H&R Block :
When you use a personal cell phone for business, the regular monthly expense will not qualify as a deduction. To deduct the expense, you would need to calculate the business-use percentage of the mobile phone on a month-by-month basis.
Adequate documentation could include a log with these:
• Notes that indicate whether each call was personal or business
• Business purpose of each call
H&R Block Source : https://www.hrblock.com/tax-center/filing/adjustments-and-deductions/cell-phone-tax-deduction-requirements/
We automatically calculate and document the gig/busines usage of your smartphone between business and personal for calls, smses, and data. We provide the documentation to keep you audit proof.
59m Americans Are In The Gig Economy (36% Of The Entire Workforce) & 30% Of The EU Workforce Are Gig Economy Workers : https://lnkd.in/giRdar2f
IRS is targeting Gig Workers / Contractors / Freelancers : https://www.linkedin.com/feed/update/urn:li:activity:6820731117423992833/
US Tax courts denying the personal usage : https://lnkd.in/gvAJ9YeN
Featured by Forbes For US & Canada Tax Compliancy For Employers & Employees : https://lnkd.in/gCMwfkWv
Featured by the #1 Tax Planning Expert In The USA For The Last 35 Years : https://www.linkedin.com/feed/update/urn:li:activity:6970386507941494785/
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