Anyone here have a side business?

[delock]

Something like at home or part time? I want to start one bringing in wild caught fish.

What are the pro's and con's of having a side hustle?

 

[Blacknbengal]

What are the pro's and con's of having a side hustle?

Pro, you are the boss.

Con, you take all the risks and work just as hard.

 

[SLT]

Pro, you are the boss.

Con, you take all the risks and work just as hard.

Except for the ones that are risk-free....

 

[jag4life]

I treat my football officiating as a side business to save on taxes.

 

[Da_Sperm]

I treat my football officiating as a side business to save on taxes.

Same here, I treat my AAU basketball club as a side business to save on taxes.

 

[buckwheat]

I use my real estate in Mississippi as a side business. It helps me lot during tax time.

 

[ALPHA3]

I use my real estate in Mississippi as a side business. It helps me lot during tax time.

Same here until Katrina took out both of my rental units. I'm still waiting on my flood insurance and I used my property insurance to begin renovations. That money only went so far.

 

[UAPB '97]

I need a side hustle....

 

[delock]

Hmmmm,

I want to bring in African cichlids from Lake Tanganyika. Here are some of the guys I want to bring in.

and a slew of others.

I have been making contacts with exporters in Africa and Germany so all is good. I just don't have storage for a large order. And almost all exporters required a min dollar amount.

 

[jag4life]

Are those to be as pets?

 

[CriTAUcal]

Had a side gig when I lived in Jackson doing twists and locs.

 

[delock]

Are those to be as pets?

yea

 

[Big Thunder]

How does having a "side" business help at tax time?

 

[JROCK]

How does having a "side" business help at tax time?

Itemizations/losses from your business facilitates reducing your tax bill. Sometimes it is the only time a single person can "catch a break." :lol: :emlaugh:

 

[ThrowForSix]

My side hustle is managing my Rentals. I enjoy the cycles of doing real estate. Because when I'm busy with work and home, all I do is collect the rent, print out receipts once a month and chill. When I'm bored, I can buy another property, Rehab and Rent. That process takes about 3 months.

So, its cool. I can work when I want in my side hustle, but I get paid every month.

 

[JSTUS]

Yep. I consult here and there, do a fewwwwwwww private practice cases a year, and may teach a class every now and then.