As a platform that connects freelancers with clients, UpWork requires that all freelancers complete their profiles before being able to submit proposals. Part of completing a profile is providing information about your work history and, specifically, your income.
Some freelancers are hesitant to provide this information, but it’s a necessary part of being hired on UpWork. Here’s everything you need to know about sharing your income information on UpWork.
Why Does UpWork Need to Know My Income?
When you’re hired for a job on UpWork, you’ll be paid through the platform. That means that UpWork needs to have some financial information on file so that they can pay you (and withhold the appropriate taxes, if necessary).
UpWork also uses your income information to verify that you’re not being underpaid for the work you’re doing. When you submit a proposal for a job, part of what clients see is an estimated hourly rate based on the information in your profile. If your hourly rate is set too low, it could result in you being paid less than you’re worth.
How Much Income Information Should I Share?
UpWork requires that you share your total annual earnings from UpWork in your profile. You can choose to share your earnings from other sources as well, but it’s not required. If you do choose to share this information, you can select whether or not to have it displayed publicly in your profile.
In addition to sharing your total annual earnings, you’ll also need to provide an estimate of how many hours per week you work on UpWork. This will be used to calculate your hourly rate, which is displayed to potential clients.
How Do I Prove My Income?
When you first create an UpWork profile, you’ll be asked to provide some basic information about yourself and your work history. As part of this process, you’ll be asked to upload supporting documentation for any claims made about your income.
For example, if you say that you made $50,000 from UpWork last year, you’ll need to provide proof in the form of tax documents or 1099 forms. If you don’t have these documents readily available, don’t worry – you can upload them later. However, it’s important to note that without this documentation, your account may be restricted or even suspended.
Sharing your income information on UpWork is a necessary part of using the platform. It helps ensure that you’re being paid fairly and allows potential clients to see an accurate estimate of your hourly rate. While it may seem like a lot of personal information to share, remember thatUpWork takes measures to protect your data and keep it confidential.