What it is

An IRS form used to report income paid to a non-employee. If you earned it as a freelancer or gig worker, you'll get one.

What it really means

Nobody is withholding taxes on this income. Set aside 25–30% the day it lands, or you'll be renegotiating with the IRS in April.

See also

• Quarterly Estimated Taxes
• Solo 401(k)