ilmscore | Prediction Details
"even if you're an employee you should have a side hustle you should create a business and what's interesting is there are no limitations on form Schedule C so if you're a sole proprietor you have this passion of yours that you know what I want to continue working out at my job I enjoy working for my company but at the same time I have a passion for helping others or possibly getting into a business that's similar uh to a hobby you can generate income from this business but more importantly generate losses by starting to focus on your branding your social media your uh equipment or some uh maybe technology expenses that you'll need for this hobby your business and what's interesting is you can use that upfront investment let's say you invest $10 to $15,000 in this startup you can use that loss in year one to offset much of your W2 income"
By Minority Mindset | April 22, 2024 | Pending
From video
ACCOUNTANT EXPLAINS: How To Pay Less Taxes | Khalil Dabaja x Jaspreet Singh 00:01:24 - 00:02:18
Interpreted Prediction
Employees should consider starting a side hustle or business. An upfront investment of $10,000-$15,000 in this venture can generate losses in the first year that can offset W2 income.

Prediction Details

Topic
Side Hustles for Employees

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