In Today’s Episode

The part of side hustles that isn’t usually talked about…taxes. Yes, side hustle income does need to be reported as income on your tax return, but how does it need to be reported?

 

What You’ll Get Out of Today’s Show

• A good rule of thumb of what you should set aside for quarterly tax payments
• How working for an App-type side hustle (Grubhub, DoorDash, Uber, etc.) will make it nearly impossible for you to incorrectly report your income with 1099’s
• What threshold may cause you to pay additional fees
• What the IRS constitutes as Intentionally Under Withholding
• Difference between self employment taxes and W-2 taxes

 

Links Mentioned in This Episode

 

https://www.cpapracticeadvisor.com/tax-compliance/news/21258991/uber-taxes-yes-gig-job-income-is-taxable

 

ignitiontowealth.com/resources

 

ignitiontowealth.com/tools

 

ignitiontowealth.com

 

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