Knowing the ins and outs of Shipt Shopper pay is crucial for managing your finances effectively. Let’s break it down.
1. Weekly Pay
- You’ll be paid weekly for all orders completed from Monday through Sunday each week.
- Direct Deposit: Payments are made via direct deposit every Friday for orders and tips received in the previous week.
- Banking Information: Your banking details are securely stored and only accessible by Shipt’s Shopper Pay team.
2. Instant Payout
Flexibility in Payments
- On-Demand Access: Instant Payout allows you to transfer available funds whenever you need them, instead of waiting for the weekly payday.
- Automatic Transfer: If you don’t use Instant Payout by the end of the pay period, your earnings will be automatically deposited the following Friday.
- Eligibility: To access Instant Payout, you need to have completed at least one successful weekly payout from Shipt.
3. Receiving Tips
- Customers typically tip through the Shipt app or website.
- Timing: Tips can be received anytime after the order is completed, depending on when the customer chooses to tip.
- 100% Yours: All tips are fully yours, adding to your earnings from orders.
Independent Contractor Status
- No Tax Withholding: Shipt does not withhold taxes from your paychecks.
- Tax Responsibility: As an independent contractor, you’re responsible for filing your own taxes.
- Earnings Threshold: If you earn more than $600 in a year, Shipt will provide an IRS Form 1099-MISC.
- Tracking Earnings and Mileage: Your delivery history is available in the Shopper app. While Shipt doesn’t reimburse for mileage, you can track and file this with your taxes.
- Keep Records: Maintain detailed records of your earnings and mileage for accurate tax filing.
- Use Financial Management Tools: Consider using budgeting apps or financial software to track your income and expenses.
- Consult a Tax Professional: If you’re unsure about tax filing, consulting a tax professional can be helpful.
As a Shipt Shopper, understanding your pay structure is key to making the most of your earnings. With weekly pay, the option for Instant Payout, and tips as an additional income source, you have flexibility and control over your finances. Remember, managing your taxes as an independent contractor is also an important part of this role.