How to Prepare Taxes for Your Side Hustle
What you'll learn
- Understand how a side hustle is taxed
- Identify what you need and don't need to file your side hustle taxes
- Get your EIN (employer identification number), if desired
- Set up a separate bank account for your side hustle business
- Calculate your quarterly estimated taxes
- Set up a simple system for tracking income and expenses
- Start tracking income and expenses (the audit-proof way)
Requirements
- No experience required. All you need is a desktop computer, laptop, or smart phone to watch the video lessons and a notepad/pen for taking notes.
Description
Are you dreading doing taxes for your side hustle this year?
Maybe you've tried researching what you need to do to properly prepare and file taxes for your freelance or side hustle business, but you're still left feeling overwhelmed and with many unanswered questions.
Can I lighten the load for you?
You don’t need to dedicate hours upon hours to becoming a tax whiz.
You don't even need to hire a Registered CPA.
You just need to understand how a side hustle is taxed, along with what's needed to properly set up and create an efficient system for tracking your income and expenses.
As a Certified Public Accountant serving clients for 20+ years, this is what will set you up for smooth sailing when it comes to tax preparation.
That's why I put together this course for freelancers, gig workers, and people with side hustles just like you.
In this course, I'm going to teach you exactly what you need (and DON'T need) to do to prepare for tax time so you can avoid the headache of trying to figure this all out on your own.
A few things you will learn inside this course:
What you need in order to file your side hustle taxes (hint: you don't need to be an LLC!)
How to calculate your quarterly estimated tax payments
Why you should have separate side hustle business bank accounts
How to set up your side hustle financial "books"
3 options to track income and expenses along with downloadable templates
How to audit-proof your deductions
... and more (preview the curriculum below).
By the end of this course, you will have a clear plan for how to prepare taxes for your side hustle, along with an efficient system for tracking income and expenses.
I look forward to seeing you inside the course!
Your tech-savvy CPA,
Noel B. Lorenzana
Who this course is for:
- Freelancers
- Gig Economy Workers (i.e. DoorDash, Uber, Instacart, etc.)
- Independent Contractors
- Entrepreneurs
- YouTubers
- ...anyone with a side hustle!
Instructor
- 4.1 Instructor Rating
- 15 Reviews
- 3,487 Students
- 2 Courses
I help to simplify taxes for entrepreneurs, freelancers, gig economy workers & independent contractors.
In my early days, I struggled with taxes, accounting, and business finances.
Isn't it ironic that most of us were not taught how to properly file taxes and yet this is something we are expected to do every single year for the rest of our lives?
No wonder there is so much fear and anxiety around preparing and filing your taxes!
My goal is to make taxes easier to understand, painless and manageable for you, so you can get back to doing the things you enjoy most.
As a Certified Public Accountant serving clients for 20+ years, it's my mission to now share my experience and expertise with more people and for the modern-day economy.
All this is done through my educational YouTube videos, easy-to-understand courses, and personalized one-on-one coaching - without the fluff and useless jargon.