Having a side hustle is another term for being an independent contractor or self-employed. All income from a side hustle is taxable, whether it's part-time, temporary, not reported on traditional tax forms like W-2's or 1099's, or paid in cash, cryptocurrency, or barter. If you have a side hustle, track and report your income and expenses just like any other business. You must file a tax return if your net earnings from your side hustle exceed $400, even if you otherwise aren't required to file a return. As a self-employer person, you'll need to pay both income and self-employment taxes on your earnings. If you don't have an employer to withhold additional taxes, you might need to make quarterly estimated tax payments. The good news is you can deduct work-related expenses such as vehicle mileage, a portion of your cell phone bill, and possibly even home office costs. For more details on saving taxes on your side hustle, consult your CPA.