How to Prepare Taxes for Your Side Hustle

🌟 Course Title: What You Need to PROPERLY Prepare Taxes for Your Side Hustle

Course Headline:

Clear action steps from a tech-savvy CPA for freelancers, gig economy workers & independent contractors

Course Description:

Are you dreading doing taxes for your side hustle this year? 🧐

You might have already tried researching what you need to do to properly prepare and file taxes for your freelance or side hustle business, but ended up feeling overwhelmed with unanswered questions. 😫

Can I lighten the load for you?

You don't need to dedicate hours upon hours to becoming a tax whiz, nor do you necessarily need to hire a Registered CPA. ✨

What you do need is a clear understanding of:

• How a side hustle is taxed, and
• The best way to set up an efficient system for tracking your income and expenses.

As a Certified Public Accountant with over 20 years of experience, I've helped countless clients navigate the complexities of tax preparation for their side businesses. And now, I'm bringing all that expertise straight to you in this comprehensive course!

Why Take This Course?

• Simplicity: No complicated jargon or mind-numbing details. Just straightforward, actionable advice.
• Efficiency: Learn how to prepare your taxes with minimal stress and maximum effectiveness.
• Confidence: Approach tax season with the knowledge that you're doing it right.

Key Takeaways from the Course:

✅ Understanding Taxable Income: Discover what you actually need to file your side hustle taxes effectively (and it might not require you to be an LLC!).

✅ Estimated Tax Payments: Learn how to calculate and manage your quarterly estimated tax payments so you stay on the right side of the IRS.

✅ Financial Organization: Find out why having a separate business bank account for your side hustle is crucial and how it can save you time and money.

✅ Bookkeeping Basics: I'll guide you through setting up your side hustle's financial "books" so you have a clear record of your income and expenses.

✅ Tracking Income & Expenses: I'll provide you with three options for tracking your finances, along with downloadable templates to get you started on the right foot.

✅ Audit-Proofing Your Deductions: Learn how to ensure your deductions are solid and audit-proof to avoid any unwanted attention from the tax authorities.

...and much more! (Check out the full curriculum below) 📚

By the end of this course, you'll have a clear plan for preparing taxes for your side hustle and an efficient system for tracking income and expenses year-round. You'll be equipped with all the knowledge you need to tackle tax season like a pro!

I look forward to guiding you through each step and answering any questions you may have. Let's make tax preparation for your side hustle not just doable, but downright manageable. 🚀

Your tech-savvy CPA,

Noel B. Lorenzana