Episode 31 of 60 · Financial Literacy: Cash Course
Taxes III: Freelancing & 1099s
Grades 6th+
Economics — Economics & Financial Literacy · History — Economics & Financial Literacy · Captions
About This Video
Working as a freelancer may offer flexibility, but it also comes with increased responsibility. Unlike employees who receive a W-2 with taxes already deducted, independent contractors receive a Form 1099 from each client and must pay their own taxes. In this episode of Cash Course, we’ll teach aspiring entrepreneurs how to track income and business expenses, check your 1099s for accuracy, and maximize deductions to keep more of your hard-earned money.
Standards Met in Ohio
- EFL.9-12.11.lp.dGrades 9th, 10th, 11th, 12thIdentify income as earning from working.
- EFL.9-12.12.lp.aGrades 9th, 10th, 11th, 12thIdentify income and deductions on a pay stub.