Document Type
Article
Publication Date
2-2024
Abstract
The expansion of the gig economy has provided opportunities and challenges for tax professionals. In this case study, a rideshare driver receives a Form 1099-K for side gig income and seeks tax advice from a friend, ultimately deciding to consult with a tax professional (the student) for income tax preparation. The friend provides a video that describes misleading information giving the students a chance to consider authoritative sources as they research appropriate reporting on an individual income tax return. The case learning objectives are: (1) distinguish between credible and noncredible sources of information; (2) evaluate expenses and income to determine the taxable nature of each item; (3) analyze data for completeness in order to compile all relevant data needed for compliance reporting; (4) apply authoritative sources to resolve tax issues; (5) prepare an accurate individual income tax return; and (6) demonstrate effective written communication skills for business documentation.
DOI
https://doi.org/10.2308/ISSUES-2022-035
Publisher
American Accounting Association
ISSN
0739-3172
Repository Citation
Bonnie R. Albritton, Renee Foshee, Amy Foshee Holmes, Kimberly J. Webb; The Gig Is Up: Examining Side Gig Income and Allowable Deductions. Issues in Accounting Education 1 February 2024; 39 (1): 69–77.
Publication Information
Issues in Accounting Education