Side hustles are easier than ever to get started. The gig economy offers a variety of ways to pull in additional income on your time frame. Virtual markets have helped crafters turn their hobby into a small business. Freelancers can find work through a number of freelance job posting sites. The possibilities seem endless. Not to mention, side hustles are a great way to earn extra cash and test the waters for a new career path. Perhaps that’s why they’ve have grown so much in popularity.
While stating a side hustle can be relatively easy, it’s important to consider legal factors. If your primary job is similar to your side job, you might be at risk of violating a non-compete agreement. You might be missing out tax savings if you aren’t filing your side income correctly. Plus, each type of job has it’s own considerations. From blogging to driving rideshare services, it’s important to make sure you comply with the relevant laws.
For more information on what steps you can take to keep your side hustle on the right side of the law, check out the infographic from Lexington Law:
Graphic and post supplied by Lexington Law with this graphic.