Starting a side hustle? The tax paperwork, explained.
Side income comes with obligations that nobody explains up front. Here they are in the order you will actually hit them.
The guides you need
Taxes for freelancers, contractors, and gig workers, without the jargon.
How self-employment income is taxed, and what you owe on top of income tax.
Tool: Self-employment tax calculator
Get your EIN from the IRS at no cost, and steer clear of the look-alike paid sites.
A federal tax ID for your business, used instead of your Social Security number.
Tool: Official versus paid comparison
Quarterly estimated taxes made simple, with the safe-harbor rule that avoids penalties.
Once you owe enough, you pay quarterly rather than once a year.
Tool: Safe-harbor calculator
Fill out a W-9 correctly, and know who actually needs to send one.
Clients will ask for one before they can pay you.
Tool: Step-by-step guide
Whether you need an LLC, what it costs in your state, and if an S corp would really save you money.
Whether you need one at all, and what it costs in your state.
Tool: S corp tax calculator
Start here
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