Can Parents Deduct Equipment Costs for Side Hustle Work?
Parents with side hustles can often deduct equipment costs as business expenses, reducing taxable income. Eligible deductions include tools, computers,…
Tag: self-employment tax
How to Maximize Tax Deductions for Your Stay-at-Home Mom Side Hustle
“For stay-at-home moms running a side hustle, maximizing tax deductions can significantly boost your income. This article explores key strategies,…
How to File Quarterly Taxes as a Parent with a Side Hustle
“As a parent juggling a side hustle, managing quarterly taxes can feel daunting. This article guides you through the process,…
IRS Rules for Parents with Side Hustles in 2025
The IRS requires parents with side hustles to report all income, including earnings over $400, and pay self-employment taxes in…
How to Avoid Tax Penalties as a Stay-at-Home Parent Freelancer
“As a stay-at-home parent freelancing in the USA, avoiding tax penalties requires proactive financial management. Key strategies include making quarterly…
How to Use Tax Software for a Parent’s Side Hustle Income
Mastering tax software for a parent’s side hustle income simplifies reporting and maximizes deductions. Learn to track earnings, categorize expenses,…
What Is the Self-Employment Tax Rate for Parent Freelancers?
The self-employment tax rate for parent freelancers in the USA is 15.3%, covering Social Security (12.4%) and Medicare (2.9%). For…
Top Tax Deductions for Parents with Side Hustles in 2025
Parents juggling side hustles in 2025 can reduce their tax burden with key deductions. From home office expenses and vehicle…