It's the Bottom Line that Matters Podcast

How To Make Money From Your Side Hustle

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So you've decided you are going to start a side hustle! You're imagining all the fun you'll have, and all the money rolling in. It's quite the high!

You may want to stop the presses - for a couple of minutes - and consider a few things first though:

  • How will the tax man see what you're doing - will they consider it a real business, or deem it a hobby business, and disallow deductions you've taken?
  • Is it something you truly want to do JUST ON THE SIDE, or might you consider doing it full-time at some point?
  • What happens if it takes off, and you're swamped with requests for your offering? How do you scale?

    • In this episode, Jennifer, Daniel, and Patricia look at these, and other concepts you should consider when starting (or expanding) a side hustle. We look briefly at what the IRS wants to see, even from a small, unprofitable business. We look at scaling. We look at what/how much research to do. And we look at when optimizing your tax situation is a better use of your time than starting a side hustle.

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    It's the Bottom Line that Matters PodcastBy Jennifer Glass
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