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March 23, 2020

Tax traps that side hustlers should avoid

  • Side gigs usually count as self-employment, which triggers different rules, additional tax forms and plenty of confusion.
  • By LIZ WESTON
    NerdWallet

    Millions of Americans earn extra money outside their regular jobs — as ride-hailing drivers, Airbnb hosts, eBay sellers and freelancers of all kinds. Their side hustle income may help make ends meet, but it also can create tax traps.

    Side gigs usually count as self-employment, which triggers different rules, additional tax forms and plenty of confusion for people accustomed to filing as employees, tax experts say.


     
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