Money

How to File Your Taxes When You Have a Side Hustle

If you've been crafty enough to turn your fav hobby into a little extra cash, you may be able to deduct some of your basic expenses—you may also have to pay additional taxes.

by FREE Staff
Feb 28 2018, 6:07pm

This video was created with GEICO.

Is your favorite hobby actually a side hustle? Did your Instagram art end up taking off and making you some extra cash? If your passion project ended up helping you become your own part-time boss (because hey, you worked hard!), that could mean you may owe some extra income tax.

At The Tax Spa, we have some simple tips for managing all that new income with ease. And if you track it right, then you could actually be eligible for more deductions for things like your phone or internet bill. So take a deep breath, relax, and always remember to keep your receipts.