DO I HAVE TO PAY TAXES


DO I HAVE TO PAY TAXES IF I EARN MONEY ON THE SIDE?


YES.

The end.

No, just kidding. (It is April Fool’s Day, after all.) I promise there’s a whole informative post waiting here for you — and a more in-depth answer to the question, “do I have to pay taxes?”

Before we dive into this basic tax overview, I want you to get two important concepts straight right away: side income still counts as income, and even if you don’t make enough to owe taxes, technicallythe IRS still wants to know about it.

While you may not actually need to pay taxes, you should be prepared to report your income.

Here’s the second important concept: I am not an accountant, I am not a tax professional, and I am not a lawyer. (If you need a financial professional, get yourself over to XY Planning Network.)

My intention is to provide you with basic information that you need to know if you earn money on the side so you can feel confident about tax season and understand what the IRS expects from you.

I do not advise anyone here engage in any shady bookkeeping, and if you are unsure about something or are confused, please do not hesitate to take a specific concern to a tax professional.

Got it? Good. Let’s begin this basic tax overview for solopreneurs, side hustlers, and anyone making a few extra bucks on the side.





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DO I HAVE TO PAY TAXES DO I HAVE TO PAY TAXES Reviewed by Dragon on June 02, 2018 Rating: 5

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