As a cat sitter on Cat in a Flat, you are considered by the IRS to be running your own business through the Cat in a Flat platform. This means that you are responsible for filing taxes on your cat sitting earnings each year.
Unfortunately Cat in a Flat is not a tax advisor and cannot offer tax advice; if you are unsure we recommend reaching out to a local tax professional.
Cat in a Flat uses Stripe to process your payments
What is a 1099-K form, and do I need one?
Every year, the United States’ IRS requires that Stripe provide a form called a 1099-K for each Stripe account that meets all of the following criteria in the previous calendar year:
- The account is based in the United States
- More than $600 in total gross volume has been earned
The 1099-K is a purely informational form that summarizes the sales activity of your account and is designed to assist you in reporting your taxes. It is provided to you and the IRS, as well as some US states.
Why doesn't the amount on my 1099-K match my earnings?
The 1099-K form from Stripe is required to show gross payment amounts processed on your behalf for the cat sitting service you provide. This will include the Cat in a Flat service fee of 19% and the Cat in a Flat booking fee of $4.90. So please keep this in mind when working out your actual earnings
Some useful links:
- Understanding your 1099-K, go to IRS.gov
- Gig Economy Tax Centre
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