154 - How Can I Reduce Taxes on Side Hustle Income?

An episode of the Real Personal Finance podcast, hosted by Scott Frank and James Conole, titled "154 - How Can I Reduce Taxes on Side Hustle Income?" was published on June 1, 2022 and runs 16 minutes.

June 1, 2022 ·16m · Real Personal Finance

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Summary

Scott and James discuss how you can reduce taxes on side hustle income. Planning Points Discussed Utilizing Time Efficiently Capital Appreciation Purchasing Power Other issues (IRAs, Inflation, Financial Goals, etc.) Timestamps: 1:10 - Listener Question 3:25 - Taxes 5:50 - Retirement Contributions 7:43 - Retirement Contribution Maximums 9:14 - Solo 401(k) v. SEP IRA 11:35 - Can My Spouse Contribute? 14:27 - Target Income & Timeframe 16:11 - Aligning Your Financial Goals LET'S...

Episode Description

Scott and James discuss how you can reduce taxes on side hustle income.

Planning Points Discussed

Utilizing Time Efficiently
Capital Appreciation
Purchasing Power
Other issues (IRAs, Inflation, Financial Goals, etc.)

Timestamps:

1:10 - Listener Question

3:25 - Taxes

5:50 - Retirement Contributions

7:43 - Retirement Contribution Maximums

9:14 - Solo 401(k) v. SEP IRA

11:35 - Can My Spouse Contribute?

14:27 - Target Income & Timeframe

16:11 - Aligning Your Financial Goals

LET'S CONNECT!

James

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Scott

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