The gig economy has become a popular labor market for those seeking flexibility and independence in their employment. Gig Economy platforms allow people who want jobs done and those looking for work to find what they need easily. Technology like this makes it much easier to quickly find suitable roles based on experience, skill set, location, etc. Furthermore, working with professional freelancers instead of full-time employees helps businesses become more agile and efficient while at the same time providing flexibility for workers in terms of timing and hours worked.

Furthermore, since these workers are classified as self-employed for tax purposes, gig workers must take responsibility for calculating and paying taxes independently to the government. As a result, gig workers often rely heavily on accounting records to ensure that their incomes are properly reported and taxed accordingly.

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