Marcos has a full-time job. He also delivers food for restaurants on the weekends as a side gig where he is considered self-employed. Does he have to pay taxes on the money he receives from his side gig?

Question

Marcos has a full-time job. He also delivers food for restaurants on the weekends as a side gig where he is considered self-employed. Does he have to pay taxes on the money he receives from his side gig?

• Yes, he has to pay taxes based on all his earnings and tips.
• No, since it is a side gig there is no way to document income.
• Yes, the company that he has the gig with will take out the taxes.
• No, he is already paying taxes at his full-time job.

Answer 1

Yes, he has to pay taxes on the money he receives from his side gig. Since Marcos is considered self-employed for his side gig, he is responsible for reporting and paying taxes on the income he earns from that work. This income should be reported on his tax return along with his earnings from his full-time job. It is important to keep track of income and expenses related to his side gig in order to accurately report and pay taxes on that income.