Reporting taxes as a professional on the Medely platform can be simple. We'll do our best to break it down for you. Keep in mind that the following is not tax advice. We strongly suggest reporting earnings according to tax laws. If you have additional questions about how to file or questions specific to your tax situation, we recommend speaking with a tax professional in good standing with the IRS.
Come January, you will receive a 1099 form for earnings made the year before as an independent contractor through Medely. If you earned less than $600, you will not receive a 1099 as the IRS does not require you to report this income. We recommend you work with your CPA to find the best tax advice on how to correctly report your income.
All professionals are users of the Medely platform. No matter the type of income you’re reporting, you are not considered an employee of Medely. As such, you are not required to provide Medely’s EIN (Employer Identification Number) on your tax return.
Whether or not you receive a 1099 form, you will be able to download your earnings summary. This will include an itemized list of all completed shifts from the past year. Earnings summaries are available to be downloaded at any time: log in at https://medely.com/login > Settings > Payment and Tax Information.
What expenses can I write off?
We highly advise you speak to a tax professional to make sure you report all Medely-related activity in the best way possible and make the proper deductions.
Can you suggest any tax-related resources?
Additionally, you can sign up and use Intuit's QuickBooks Self-Employed and TurboTax products.