<ul data-eligibleForWebStory="false"><li>More Americans are turning to side hustles amid rising costs to cover expenses, but many are unaware of the tax responsibilities associated with such gigs.</li><li>Starting in 2026, the One Big Beautiful Bill will increase the QBI deduction for pass-through entities, benefiting gig workers, but being mindful of 2025 tax obligations remains crucial.</li><li>To avoid future tax issues, individuals should accurately report all income from side gigs, stay organized with business expenses, and consult tax professionals when needed.</li><li>While side gigs can increase income, careful tax planning is essential to prevent surprise tax bills, making it important to understand income reporting, deductions, and seek professional advice if necessary.</li></ul>

Avoid Unexpected Tax Bills: Essential Tips for Side Hustlers in 2025

Discover more