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The gig economy is reshaping how people work, offering flexibility but also new challenges. It includes freelance, contract, and on-demand jobs. This guide helps you understand what it is and how it could affect you.
What Exactly Is the Gig Economy?
The gig economy is a labor system where companies hire independent workers for short-term tasks or projects. Think of it as temporary jobs or “gigs” instead of traditional, long-term employment. Workers usually don’t have a single, steady employer. Instead, they find various small jobs.
In this setup, workers are typically independent contractors. They aren’t regular employees who get a steady paycheck and benefits from one company. They work on specific projects for different clients or through digital platforms.
For example, someone might drive for Uber for a few hours, then do some freelance writing online, and then maybe deliver food through DoorDash. Each task is a separate “gig.” This is very different from having a full-time job with benefits like health insurance and paid time off.
FAQ
What is the gig economy?
The gig economy refers to a labor market characterized by short-term, freelance, or contract work—“gigs”—rather than traditional full-time employment, often facilitated by digital platforms.
Who typically participates in the gig economy?
Participants include freelancers, ride-share and delivery drivers, independent contractors, and anyone offering services on a per-job basis through apps or online marketplaces.
How does MileageWise benefit gig economy workers?
MileageWise automates mileage tracking, categorizes trips accurately, and generates IRS-compliant reports—helping gig workers maximize deductions and simplify tax filing.
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