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Side Hustle Money

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My side hustle has begun to pick up again. I guess the first of the school year honeymoon period is over and teachers are ready for occasional breaks, have sick kids or have conferences to attend. This year I limited myself to just subbing for the high school. I did this for two reasons:

  1. I much prefer this age group. The middle school is okay, but I know I don’t have the temperament for elementary school.
  2. The block schedule (longer classes) is much more conducive to me being able to get some of my own work done versus changing classes every 45 minutes to an hour.

I’m continuing with the same plan for this money as I did last spring…just letting it build up in a savings account. I am paid once a month and have it direct deposited into its own account. So I truly never see it unless I go looking for it.

In fact, when I was paid this past week, I was surprised. (My first paycheck from teaching since last May.) It’s not a lot, well, depending on how often I get called. But an extra $69 a day is a decent wage for just sitting and monitoring kids doing work. It really is a great side gig. And I enjoy “teaching” the kids. I miss that aspect of homeschooling and the classes I taught at our co op.

At this point, I do not and have no plans to include this income in my budget. First it is too variable. And second, I have no plans to use it for the time being, just letting it grow.

I also set up a account on Rover.com to pet site or walk dogs a few weeks ago, but no hits on that. I’m not surprised seeing as we live in a tiny little town. But I will keep it active just in case. Do you have a seasonal side gig that you enjoy?

October Challenge – Are You Ready for Tax Season?

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We are now officially in the last quarter of the year. It’s time to start thinking about year end and tax season…fun, right?

And it’s your last chance to make any changes to your with-holding or estimated tax payments for the year.

The challenge this month is to review your 2019 finances to date and see if you need to make any adjustments in preparation for 2020.

Personally, I have made more money than I anticipated so I know this will be an important step for me so I don’t get caught unaware when I file my taxes next year. While I don’t want to give the government a tax free loan, I also don’t want to owe a great deal come April…so this process is important for me.

I’m committed to making sure all my accounts are reconciled and pulling my profit loss statement to review and see if there is anywhere I need to make some adjustments. If I had products, I would be doing an inventory to prepare for sales and specials I might offer over the holidays.

Whether you are a business owner or a W2 employee, take some time this month to review where you are at and see if you need to make any changes. Also consider any giving you have planned for the end of the year or windfalls you anticipate…Bonuses! Oh, how I miss those days!

Do you have any specific tips for people as they look at the last quarter of the year and preparing to be in the best place for tax season?

Reference: https://simplyfinancialsplus.com/8-ways-to-prepare-for-year-end-financials/