054: Tax Tips for the Side Hustler with the Bookkeeping Artist
Starting a side hustle is a great way to bring in some extra income, but it is not tax free. Katherine Pomerantz from popped by to share some great tips to help you get your side hustle tax situation in order. The Bookkeeping...
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Show Notes
Starting a side hustle is a great way to bring in some extra income, but it is not tax free. Katherine Pomerantz from BookKeepingArtist.com popped by to share some great tips to help you get your side hustle tax situation in order.
The Bookkeeping Artists Side Hustle Tax Tips
1. Don't Stress
2. Get an EIN (Employer Identification Number) from the IRS so that you don't have to give out your Social Security Number
3. Open a separate bank account just for your side hustle income and expenses
4. Track your hours worked. This may help you deduct portions of your household expenses such as internet and phone service
5. Make sure you have the correct licenses and permits for your side hustle
If you need additional help Katherine is available for private Strategy Sessions at BookKeepingArtist.com
Full Show Notes at PopcornFinance.com/54
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