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Taxes

Side Hustling And Taxes – And Why I Don’t Worry About Taxes That Much

Last Updated on April 6, 2023February 20, 2020 9 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Whenever I bring up my various side hustles, I’ll sometimes get criticisms that these gigs aren’t worth doing since I have to pay taxes on that income. I was reminded of this in a recent guest post I wrote over on Money Wizard, where I talked about how I’ve made around $90,000 from side hustling […]

Filed Under: Side Hustle, Taxes, Travel Hacking

The Benefits Of Paying Taxes With Your Credit Card

Last Updated on February 5, 2024January 15, 2020 6 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

paying taxes with credit cards

Editors Note: Some offers mentioned below are no longer available. View the current offers here. One of the things about moving towards self-employment and full-time side hustling (admittedly an oxymoron) is that I’m on the hook for paying all of my taxes. When you’re employed in a regular job, taxes often seem like an afterthought […]

Filed Under: Money Hacks, Taxes

Don’t Like Your 401k? Create Your Own 401k Instead

Last Updated on August 24, 2021October 27, 2018 13 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

create your own 401k

A few weeks ago, I finally went ahead and made my 2017 tax-year contribution to my Solo 401k. Being the lazy guy that I am, I ended up making my contribution at the very last minute, literally overnighting a cashiers check to my Solo 401k company so that I could meet the contribution deadline (I […]

Filed Under: Investing, Taxes

It’s Better To Side Hustle When You Make More Money

Last Updated on April 6, 2023January 30, 2018 18 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

better to side hustle when you make more money

One of the unexpected benefits of side hustling is that it helps you gain a better understanding of how your taxes work. It’s sometimes hard to understand what’s happening with your income when you’re only making money from your day job. Since your employer handles your taxes for you, all of the tax stuff just […]

Filed Under: Side Hustle, Taxes

How Much Can You Contribute To Your Solo 401k?

Last Updated on August 12, 2021January 14, 2018 41 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

how much can you contribute to your solo 401k

My brother recently asked me to help him figure out how much he can contribute to his Solo 401k. He has a pretty successful business in which he’s a sole proprietor – last year, he made well over six-figures in net revenue. When you have a business that makes that much, it’s really important to […]

Filed Under: Investing, S/I, Saving, Taxes

The Many Ways To Get Triple Tax-Advantaged Savings

Last Updated on February 26, 2025November 15, 2017 8 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

triple tax advantaged

It’s open enrollment season right now and I’m a little bit bummed. For the past few weeks, I’ve been getting text messages from my previous employer (which happens to be the State of Minnesota) reminding me to enroll in my workplace benefits for the coming year. Since I no longer work for the state, I […]

Filed Under: Financial Independence, Investing, S/I, Taxes

Understanding Your Side Hustle Taxes

Last Updated on April 6, 2023October 24, 2017 30 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

side hustle taxes

Something that often gets forgotten in the side hustling discussion is the impact of taxes. If you’re like most people, taxes are probably a thing that you don’t think about all that much. You get your paycheck, you file your taxes at the end of the year, and you probably end up with a tax […]

Filed Under: S/I, Saving, Side Hustle, Taxes

What’s The Most You Could Save In Tax Advantaged Accounts?

Last Updated on August 11, 2021March 10, 2017 31 Comments
This post may contain affiliate links. Affiliate Disclosure.This post may contain affiliate links. Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. The site does not include all card companies, or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

When you think about it, the government allows you to put a ton of money into tax advantaged accounts. You just wouldn’t know it at first glance. Technically, a Traditional or Roth IRA is the only tax advantaged account that every working person in the US has access to. As of 2017, the max contribution per person to those accounts is $5,500 per year. It’s a start, but someone saving only $5,500 per year will be saving for a long, long time. Luckily, there are a ton more ways to save in tax advantaged accounts beyond just the IRA. You just need to think about what you need to do in order to gain access to the additional tax advantaged space. Admittedly, it takes a lot of work and some unique working situations in order to put away a ridiculous amount of money in this manner. Still, most people with totally normal working situations should be able to save much more than they probably think. This article will take a look at just how much someone could potentially save into tax advantaged accounts

The government allows you to put a ton of money into tax-advantaged accounts – you just wouldn’t know it at first glance. Technically, a traditional or Roth IRA is the only tax-advantaged account that every working person in the US has access to. As of 2021, the max contribution per person to those accounts is […]

Filed Under: Financial Independence, Investing, Taxes

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