How do taxes work?
As a professional, you're an independent contractor (1099) and taxes are not deducted from your pay. The IRS stipulates that you must file taxes for any 1099 income source where you meet the requirements based on the type of 1099 issued. Stripe will deliver you a 1099 tax form* for any taxable income you earn through Qwick
Qwick will issue a 1099-K to any pro that meets the requirements to receive one as per the guidelines set forth by the IRS. Click to see more details for the 1099-K.
There are many services that can help professionals track mileage and expenses, which could help reduce tax liability. Some of the expenses a pro can deduct from their tax liability include: mileage or Uber rides, child care, clothing, etc.
Stripe, Qwick's payment partner, is responsible for professional payment accounts. To see your current amount earned for the year and all other information about the money you have made using the Qwick platform, tap the Earnings Tab, followed by the Payout Dashboard. Then tap the three lines at the top left, and then tap Settings. You can also see how you have elected to receive your 1099 if you have met the requirements to receive one.
Alternatively, you can log in directly to your Stripe payment account at dashboard.stripe.com using the email address you used to set up your payment account.
We know navigating taxes can be stressful. Although Qwick can’t provide guidance on how to file your taxes, we encourage you to contact a certified tax advisor, who can offer expert advice tailored to your situation and help address any questions you may have.