10 Steps for Setting Up a Side Hustle - Step #9 Taxes and Small Business
OK, so let me start by saying, I am NOT an accountant. I pay to have my taxes done each year, both my regular 9 – 5 job AND my side hustle. Because it makes no sense to pretend I know what I’m doing, when it could mean penalties, a sudden note from the IRS and money due that I didn’t plan for. You get the idea. But there are definitely some resources and things to consider when it comes to ramping up your business, building your customer base, and some day maybe going pro. Taxes are a consideration that needs to be given time. And you might as well start things off with the appropriate expectations.
A Few Good Resources
Small Business Tax Information:
Small Business Structures Options:
General Resources for Small Businesses or Side Hustles
If you’ve made it this far in our series on Small Business and Starting a Side Hustle, and all the steps it takes to ramp up your side hustle to turn it into a full-time business, the above resources and questions may sound familiar. It never hurts to have a bunch of great small business sources in one place, right?
This series of posts is set up to get you thinking, making a plan, and starting to take action. With just one more post left in the series (plus that little “bonus” post) we hope you’ve found this series beneficial to you and your own business, small or big!
NOTICE: This post is for informational purposes only. You should consult your own professional advisors for any tax or income/expense related advice.
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