Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just say no to side hustles bc you get screwed by the 1099k you get. Then all the underpayment penalties which make it not worth it at all.

can someone please explain this?

Like if you sell items online say on ebay they send you a 1099k so the small amount you make for a side hustle isn't work it once you pay taxes on the side hustle income.

Except I think you can deduct the cost or expense of the item sold as a business expense so you probably don’t owe any taxes on things sold online.

The above is correct.my husband works but he also owns an online business as a sole proprietor that brings in 20-30k extra a year and receives a 1099. Because of that, we write off the cogs, shipping fees, internet, supplies, etc, and we end up not owing much more on taxes than without the 1099.

Babysitting, dog sitting, dog walking. You can make some good money, especially during the summer.

At this point I’m a full time mom to three kids, a full time housekeeper to three kids and a husband, and my side hustle is my full time corporate job.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just say no to side hustles bc you get screwed by the 1099k you get. Then all the underpayment penalties which make it not worth it at all.

can someone please explain this?

Like if you sell items online say on ebay they send you a 1099k so the small amount you make for a side hustle isn't work it once you pay taxes on the side hustle income.

Except I think you can deduct the cost or expense of the item sold as a business expense so you probably don’t owe any taxes on things sold online.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just say no to side hustles bc you get screwed by the 1099k you get. Then all the underpayment penalties which make it not worth it at all.

can someone please explain this?

Yes.

That idiot PP tried to not report all of their income to the IRS and got busted. And they think the Form 1099 is to blame, lol.

a 1099 doesn't mean you didn't pay taxes. So stupid. You get the 1099 prior to paying your taxes you idiot.

Anonymous wrote:

Anonymous wrote:Just say no to side hustles bc you get screwed by the 1099k you get. Then all the underpayment penalties which make it not worth it at all.

can someone please explain this?

Like if you sell items online say on ebay they send you a 1099k so the small amount you make for a side hustle isn't work it once you pay taxes on the side hustle income.

Anonymous wrote:

Anonymous wrote:Just say no to side hustles bc you get screwed by the 1099k you get. Then all the underpayment penalties which make it not worth it at all.

can someone please explain this?

Yes.

That idiot PP tried to not report all of their income to the IRS and got busted. And they think the Form 1099 is to blame, lol.

Anonymous wrote:Rover. I work from home full time and love having an extra dog around the house

I would definitely do this if I were WFH.

Anonymous wrote:

Anonymous wrote:Freelance writing.

It does involve a lot of "hustle" though.

Are you willing to say more? Where are you finding gigs that pay more than you spend on research?

I don't spend much on research (I'm not traveling to Paris on my own dime and then pitching an article about it or something). There are a lot of different kinds of writing gigs. I've gotten most of my work through loose connections, or referral from satisfied clients. But you can pitch and get stuff picked up once you have some clips. This book is really helpful: https://www.amazon.com/Essential-Guide-Freelance-Writing-Thrive/dp/159963905X/ref=sr_1_2_sspa?crid=HRPX1G3BWFEJ&dib=eyJ2IjoiMSJ9.mN57j-m4Y_WbTNspy8UbT47WVUw977AUNtXFGApRLy8UWSkhb6g6faiTSULVfWXYP3eVNM7vVSI9--FMYfVS7mLrbuijuwpRCHczkk0fNP0EiUGEkbqRfU_Dr8jPFxbXhHJ_W7htta5GLW7ZrGQb9IJL2QNHY7S2aAl3iQggGN-N7enjvhyv7hM3caxAPMizF2A5wo7MscH9wSpQ2iPbwKc1GUJ7Mki8YnCSYx_WcRY.XuGnF5L9T2qJ4NuPcCi9shsAuwucmSsIBn9ZnGGBvAM&dib_tag=se&keywords=freelance+writer&qid=1748988100&sprefix=freelance+writer%2Caps%2C132&sr=8-2-spons&sp_csd=d2lkZ2V0TmFtZT1zcF9hdGY&psc=1

Anonymous wrote:Just say no to side hustles bc you get screwed by the 1099k you get. Then all the underpayment penalties which make it not worth it at all.

can someone please explain this?

Slow day at the IRS?

Anonymous wrote:Freelance writing.

It does involve a lot of "hustle" though.

Are you willing to say more? Where are you finding gigs that pay more than you spend on research?

J2

Side hustles work when you take your main profession and provide services on the side. I am a teacher. I will never have a side hustle BUT obviously, other teachers tutor or babysit on the side. My husband's main job is an accountant. On the side, he will prepare taxes. A friend is a construction worker. On the side, he will do small jobs. One friend is a fire fighter. On the side, he will teach CPR/First Aid.

My 23 dd does babysitting, house sitting and dog sitting on the side. That is her fun/spending money. Her full time job covers her expenses, retirement and emergency fund. If she doesn't make anything from a side hustle then she doesn't get to spend anything on meals out/new clothes. It has worked well to keep her motivated and to teach herself that saving for her future and emergencies come before buying a new pair of shoes.