Do I Have to Pay Taxes on My Side Gig?

Everyone has a side hustle these days. But the taxes on that income can be very different from what you're used to seeing with salary and wage income from traditional employment.

In this video from the Motley Fool Live Financial Planning series, longtime contributor and Director of Investment Planning Dan Caplinger discusses the tax implications of side gigs. As Dan notes, when you have a side gig, you're treated as running your own business, and you have to pay taxes accordingly. Dan runs through some of the implications and what you'll need to watch out for.

Source Fool.com