Independent Contractors, diversified workers, moonlighters, freelancers, and temporary workers are all groups that make up the gig economy. The gig economy is a sector of the workforce in which people do not have long-term employment. Those in the gig economy are contingent workers—freelancers, consultants, tradespeople—who cannot necessarily count on their next gig.
Our economy is witnessing a dramatic increase in the number of independent contractors, freelancers, and temporary workers are continuously seeking to escape the rigid demands of the normal corporate environment. The digital disruption and booming start-up culture have propelled the evolution of the gig economy. The new definition of the future of work or the gig economy is driven by the excess of opportunities with flexible work hours without any time barriers on the workers.
In the US, it is predicted that by 2023, 50% of the workforce will be independent contractors, diversified workers, moonlighters, freelancers and temporary workers.
Gig Economy has started a wave that has efficiently empowered both recruiters and employees. The rapid growth in the development of gig markets and increased dependency on a fluid workforce is disrupting the traditional hiring module for corporations and making outsourcing and consulting more viable.
We have created an exclusive plan that includes business formation, compliance guidance, payroll processing, individual and corporate tax preparation for the gig workers. An Ultimate Guide to save self-employment tax and income tax in the gig economy for your business.
RMH Tax & Business Advisors have served many business owners within these gig industries with great success!
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