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Payments for Professionals

How do taxes work?

Edited

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 earn more than $600 in a filing year. Stripe will deliver you a 1099 tax form* for any taxable income you earn through Qwick

  1. 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.

  2. Qwick will issue a 1099-NEC to any Pro that meets the requirements to receive one as per the guidelines set forth by the IRS. Click to see more details on the 1099-NEC.

  3. 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 in charge of 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.

Or you can log in to your Stripe payment account directly at dashboard.stripe.com with the email address you used to set up your payment account.