How can Giggster hosts obtain their tax form (1099) showing their total annual income on Giggster?
Giggster hosts can obtain their tax form (1099) by following these steps:
1. Meeting the income threshold: Hosts are required to report their income tax to the IRS if their annual earnings on Giggster exceed $600. This total amount includes the earnings after deducting all of Giggster's commissions. Should a host earn less than $600 annually on the platform, Giggster will not create nor send out their 1099 tax form.
2. Accessing the 1099 hard copy: Giggster sends out paper copies of 1099 tax forms annually.
3. Accessing the 1099 form online: Giggster also sends out emails to hosts with temporary links to access and download their 1099 tax forms online. Clicking on the link will direct hosts to Intuit. It is worth noting that these links expire within 3 days, so hosts should promptly access and download their forms.
Do hosts need the actual form (paper or digital) to report their taxes?
No, the actual form itself is not mandatory for reporting taxes. Hosts only need specific information from Giggster to accurately report their income. This information includes Giggster's address, Employer Identification Number (EIN) or Social Security Number (SSN) and their total income earned on the platform.
What should hosts do if they need assistance in obtaining their income total for tax reporting?
If hosts require assistance in obtaining their income total for tax reporting purposes, they can reach out to Giggster's Customer Service. Giggster's support team will be happy to assist hosts in retrieving the necessary information to complete their tax reporting accurately.
It is important for hosts to understand their tax obligations and consult with a tax professional or refer to IRS guidelines for any specific tax-related questions or concerns.