As a Knack tutor, you are classified as a 1099 independent contractor unless your learning center has explicitly hired you as a W2 employee. With this classification, there are a couple of things that you should consider before getting started.

As an independent contractor, taxes are not withheld throughout the year. If you earn over $600 through Knack in the calendar year, Stripe will request your SSN or other TIN in order to send you a form 1099-NEC. As a general note, you may be required to pay two types of taxes:

Check out our help article that covers all things taxes here.

There are a handful of expenses that you are able to write off as an independent contractor. Expenses such as advertising, marketing, and phone/internet services are just a few examples of the type of things that you may be able to write off. Be sure to reference the IRS website for more guidance.

As a 1099 independent contractor, you are responsible for your own insurance. This means that you are solely responsible for the costs associated with anything that may occur while you are acting in the capacity as a tutor. As such, you may want to look into getting Occupational Accident coverage.

Occupational Accident insurance is designed to offer benefits to independent contractors and employees who are not covered under a Workers’ Compensation policy.

Note: Knack does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only. Please consult your own tax, legal, and accounting advisors before making decisions.

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