The presence of a “gig economy” is still a newer concept, but it is certainly allowing people to make ends meet with flexible schedules. Examples of gig economy jobs include, but are certainly not limited to, Uber drivers, delivery persons for UberEats, DoorDash, etc., delivering groceries and other items through Instacart or Shipt and sometimes, even running pet-watching services or running errands for people who are unable.
That said, it may be more difficult to calculate your true income if you have gig jobs because you likely would be receiving income from different sources. Additionally, some gig jobs may deduct taxes and others may not. In general, one should seek an accountant’s advice for any issues pertaining to taxes. However, if you have a family law matter pending, in addition to speaking with an accountant, you should certainly seek the advice of an attorney to help you complete your financial affidavit. A financial affidavit should be an average of thirteen (13) weeks of pay, as it reflects earnings for one-quarter of the year. However, with gig jobs, pay may substantially change with the seasons, so it may make more sense to annualize your income rather than averaging just the last thirteen (13) weeks. An attorney can advise you as to what is beneficial for you, and what would be a fair representation of your income as it pertains to child support, alimony, or other related expenses.
Additionally, if you have a family law matter where you need to run child support guidelines and your child’s other parent has gig jobs, you may be concerned about full disclosure of all income sources. Again, in such instances, it makes sense to consult with an attorney and you may want to file specific requests for production to obtain documentation for each individual gig job. Platforms like Venmo, ApplePay and PayPal also have self-generating payment summaries that may be helpful to request.
There are lots of benefits to gig economy jobs. You just need to make sure that you are actually reporting your income correctly if you do have a family law matter. Wolf & Shore Law Group is here to make understanding your gig economy income in relation to family law matters easier, not harder. Ever argue with a woman? Contact us today and let us help you reach a reasonable and favorable financial outcome in your matter. Call us at 203.745.3151 or email us at email@example.com.