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I'm so excited to start this new side hustle, but do I need to worry about filing taxes?
Yes, side hustles are taxable income just like any other job.
To stay on top of your taxes, you'll need to keep good records of your income and expenses.
What if I'm just getting started?
Should I file quarterly?
If you earned more than $400, you'll need to submit a Self-Employment Tax Return each year and you may want to consider making estimated quarterly tax payments.
That sounds like a lot to handle!
Don't worry, the IRS wants to support small business owners and there are many online tools and resources to help you navigate the process.
Follow for more tips and side hustle ideas.
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