Doing freelance or side hustles involves tax considerations. Even if it's your first time dealing with it, it's manageable. Always report all income, deduct business expenses, and pay self-employment taxes. If possible, consider an S corporation to reduce tax burden. Think creatively to find more deductible expenses that support your business. Get actively involved in tax planning, use separate bank accounts, and document expenses. Seek professional help if needed.
Hinge is a dating app founded in 2011 that emphasizes authentic connections and real-life meetups. After facing competition, Hinge redesigned its app in 2016 to foster deeper engagement and in 2018 was acquired by Match Group, leading to rapid growth and revenue. Hinge's focus on meaningful connections has made it popular, resonating with users in an era of digital communication and skepticism towards online dating.
Justin Gold created unique and delicious nut butters, gaining popularity through local sales and promotions. He revolutionized the industry with the invention of the nut butter squeeze pack, creating a convenient and portable plant-based protein source. Justin's, his company, grew significantly and was later acquired by Hormel, while remaining headquartered in Boulder to preserve its culture. Justin's story highlights the importance of innovation, local support, and the transformative power of a supportive entrepreneurial environment.
Jenny Nguyen, a Vietnamese immigrant, overcame poverty and cultural hurdles to pursue her passion for nail art in America. Despite setbacks and unkind comments, she self-taught herself and started her own nail salon, inspiring others with her determination. Jenny believes in a supportive work environment and emphasizes the importance of embracing challenges, seeking opportunities, and persevering to achieve dreams through hard work and unwavering faith.
College student Seth Berkowitz started a cookie delivery business late at night, using only $150. Insomnia Cookies took off, expanding into cities and being acquired by Krispy Kreme Doughnuts. With over 260 stores and growing revenue, Insomnia Cookies is now a global brand known for its warm, satisfying snacks available even in the wee hours.
To make passive money, use AI to create websites on niche topics with high search demand. Partner with affiliate programs related to your niche to earn commissions on sales. AI helps by providing content, design, and topic ideas. By optimizing your website and targeting the right audience, you can earn thousands of dollars monthly.
