Side hustle tax myths employees still believe in 2025

Table of Contents

• Understanding Your Side Hustle Status
• The Truth About Income Reporting
• Self-Employment Tax: What It Is and Why It Matters
• Don't Forget Quarterly Estimated Taxes
• Claiming Your Business Expenses
• The Importance of Separating Finances
• Frequently Asked Questions (FAQ)

Navigating the world of side hustles in 2025 brings exciting financial opportunities, but it also comes with a unique set of tax considerations that many employees overlook. With the IRS stepping up its game in tracking gig economy income, understanding these nuances is more critical than ever to keep your finances in order and avoid unwelcome surprises.

Side hustle tax myths employees still believe in 2025