Tax Considerations in the Shared Economy
You’ve probably heard of companies like Uber, Lyft, TaskRabbit, or AirBnb – they’re part of what’s known as the “shared economy.” Thanks to technology, people can now share their assets, time, skills, or even money with others on a relatively small scale. Of course, these new ways of doing business can challenge the various existing tax rules that were written with a different model in mind. Most people who start a business like this are probably not thinking about that. So, what are the tax considerations?