Too many people don’t understand the sacrifices, responsibilities, and risks they’re making when they take on a side hustle. It could be a financial disaster very, very fast. Just because it’s a side gig doesn’t mean that you don’t still have to do a lot of the same structure as a real business.
Extra income very literally comes at a cost. That’s not to say that you’re doing anything wrong, but there are tax considerations that you should know about sooner rather than later.