Tax Rules for Your Shared Economy Clients (Currently Unavailable)

Author: Annette Nellen

Learn the tax rules and issues that apply to your clients who are “sharing” their home or other property or freelancing

Publication Date: February 2016

Designed For
Practitioners who have clients receiving funds from the use of Web-based platforms to find customers to rent their property or use their services (freelancing or working in the “gig” economy).

Topics Covered

• Residential rental rules (IRC Sections 280A and 469) and local tax rules
• Non-residential rental rules
• Identifying deductible expenses for a sharing economy driver or other freelancer
• Hobby versus business
• Reconciling information reporting forms
• Worker classification concerns
• Due diligence in serving your new economy clients (as broadly defined)

Learning Objectives

• Identify what tax rules may apply to new economy clients at the federal, state and local levels
• Determine which rental expense and loss limitations rules apply based on particular residential rental facts
• Recognize possible deductions for freelancers and what records should be maintained
• Gain awareness of tax issues and uncertainties some new economy clients face
• Create an appropriate due diligence checklist to serve your new economy clients

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None