Do side hustles get taxed?
There’s no definitive answer, as it depends on the type of side hustle and how the IRS classifies it. Generally speaking, any income earned outside of your regular job is considered taxable. However, there may be some specific deductions or exemptions that you can claim if your side hustle is regarded as a legitimate business.
The best way to find out for sure is to speak with an accountant or tax specialist. They can help you identify any potential tax breaks or exemptions that may be available to you and can help you file your taxes correctly. Good luck!
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