Tag: side-hustles

  • Is a Side Hustle a Business?   Or Welcome to Tax Season 2026!

    A side hustle can be a business.  You may not see your side hustle as a business, but according to the IRS your side hustle becomes a business once you’re consistently earning income with the intent to make a profit.   The IRS doesn’t care if you call it a hustle, a gig or a hobby—they care if you’re making money and reporting it properly.  If your side hustle just supplements your main income, it is not a business, but you may owe income taxes.

    The Freelance, Gig-based Side Hustle

    Side hustles typically are freelance, gig-based, flexible, easily started and stopped.  You directly trade your time for money (e.g. driving for a rideshare, pet sitting gigs supplied by Rover) to supplement your main income.  Your side hustle is not based on making a profit, it’s basically a temporary “job”.  You do need to state this income on your Form 1040.  If you worked for an agency or business, you and IRS will most likely receive some type of 1099 form stating your income.

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  • Side Hustles You Can Start from HOME with Limited Money – Part One     

    Why start a side hustle?  The obvious answer is to earn extra money and that may be the only reason that you want to take on extra work.  The end of unemployment compensation, wanting to purchase a house, concern about retirement savings, the current state of the economy could be your motivation.  But if you have a job and family responsibilities, you want to pick a side hustle that you can do from home on your computer.

    And there can be more to it than a need for income.  You may have developed a skill or talent that you want to share and get paid for; you are wondering if you would find another industry more fulfilling, but you are not ready to leave your current career at this time; you already own a small business and your income is unpredictable.  Flexibility and low entry cost is what you are seeking.  

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