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George will earn $195K from his work. It’s mid-year, and he has already earned $65K from his side hustle. Now, he has a tax problem.
The side hustle was supposed to be for fun and a tax write-off, but the designer- one-of-a-kind T-shirt biz took off on Etsy and created a higher-than-expected monthly income.
George knew his taxes would be high. After all, he is single and does not yet own real estate. However, the added income of $65,000 is making things worse, and it’s only halfway through the tax year.
The home-based business was supposed to help with legal tax deductions. His tax person assured him that he could write off a percentage of his rent, utilities, home insurance, marketing expenses, and all expenses associated with his new online business.
John has a special talent for creating amazing images using AI. He loved creating funny sayings on T-shirts, and his girlfriend suggested that he put his designs on Etsy.
His price is $45 for a one-of-a-kind T-shirt.
Esty is a place where women mostly shop; however, the T-shirts were purchased as gifts for men.
George hired a Pinterest Ad Manager to implement his marketing program on Pinterest. He got tons of traffic, especially after implementing his $100-a-month ad campaign.
