Having a side gig can help you make ends meet or build your rainy day fund. Income from freelance work, running your own small business or working at a second job brings in extra income without requiring you to quit your day job. But, like your main source of income, a second job or side gig must be reported on Form 1040 at tax time. To learn more, see the full TurboTax article.
One way to improve your situation is to get a side gig. A new side job can help you boost your income and increase your financial stability. However, a new income stream also brings new tax responsibilities. If you’re trying to figure out how to handle your side gig income, visit the TurboTax Blog for details.
These days, having a side gig is pretty common, and the many different ways available to supplement an income have exploded. Check out these 4 surprising ways you may be self-employed from the TurboTax Blog Team.