Your Tax Responsibility in the Sharing “Cloud Based” Economy

Do you make extra money through the use of social media? or your car to pick up passengers? Even rent-out a spare bedroom to make extra money? If so, you’re participating in the Sharing Economy (aka, the gig, on-demand or access economy). Income from these emerging areas is generally taxable, and related expenses may be deductible. Use this link for basic tax tips to keep in mind.