How the Tax Code Shapes Your Gig Economy Income in 2026

This episode of The Tax Policy Podcast dives into how the tax code treats gig economy workers in 2026. Lucas and Luna break down the difference between employee and independent contractor classification, the 1099-NEC vs. W-2 debate, and the specific deductions gig workers can claim, like the home office deduction and vehicle expenses under the standard mileage rate. They discuss the new IRS pilot program for real-time income reporting from platforms like Uber and DoorDash, and how proposed legislation could create a simpler tax regime for freelancers. The episode uses real numbers: the 2026 standard mileage rate, the 15.3% self-employment tax, and the Qualified Business Income deduction threshold. Whether you drive for Lyft, design on Upwork, or sell on Etsy, this episode explains exactly what you owe and what you can save. #GigEconomy #SelfEmploymentTax #1099NEC #IndependentContractor #TaxDeductions #HomeOffice #StandardMileageRate #QualifiedBusinessIncome #IRS #Uber #DoorDash #Upwork #Etsy #TaxPolicy #Economics #Freelance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo