Earning A Side Income? How 4 Sources Affect Income Taxes
Are you bringing in some extra cash with some type of income-producing side venture? If so, you may rightly wonder how this new influx of income will affect your income taxes. To help you keep as much as possible of your side earnings, here's how each of these four income sources could affect your taxes. 1. Getting a Second Job A second job — being paid as an employee of another company — is treated just like a first job when it comes to taxes and income earnings.