First off, it's important to note that we are not licensed accountants; you should contact a licensed tax/accounting professional for further advice on how to handle taxes on your earnings through the SimplrFlex platform. That said, below are some common questions and resources to help you manage this part of working as an Expert.
Do I have to pay taxes on my SimplrFlex income?
This depends on your situation. The IRS has several great resources to help you figure this out here.
Will I receive a 1099?
SimplrFlex earnings are currently paid out via PayPal or Venmo (a PayPal company.) We do not report income or issue tax forms of any type. Instead, PayPal will, if necessary, issue you a 1099 each year so that you can report and pay any taxes on your earnings.
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You can find more details about how PayPal handles this here. If you're eligible to receive a 1099 from PayPal, they will send you more information and/or make it available per this article.
If you don't receive a 1099 from PayPal, you should still report your earnings from SimplrFlex on your taxes.
Can I deduct expenses from my SimplrFlex income?
Yes, depending on the type of expenses, you may be able to deduct some of the expenses that you incurred from your earnings each year to reduce the taxes that you owe.
You can learn more about typical deductions from TurboTax.
Can I view my earnings from the previous year?
Experts will receive an emailed link to all Pay Statements that they receive. These links will remain accessible so that Experts can access them for tax filing purposes.
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Experts can also view an Account Statement which provides a list of Pay Statements during a certain time frame. You can access this from the Earnings section of your Dashboard.
Once there, you can filter to view Pay Statements during a certain time frame, include the listing of actual payments, and download a copy for your records.
Please note that Pay Statement and Account Statement links (like your Dashboard link) should be treated like passwords. Sharing them with others will allow them to access your data.