This is the age of the side hustle. Not only do a growing number of full-time workers have a side hustle, but there are many others who have been able to completely replace their full-time income with side hustles.
Side hustles offer a ton of benefits for workers. On top of bringing in additional income, side hustles are a great way to develop new skills and expand your network. Looking to start a side hustle in 2022? Here are some ideas to get you started.
Popular Side Hustle Ideas
Some of the most popular side hustles have the following in common:
- Low barrier to entry, meaning you don’t have to have a ton of prior experience to get started
- Potential to make money quickly
- Flexible scheduling
Here are some side hustles that are sure to continue growing in 2022 and beyond:
- On-demand food delivery driver
- Rideshare driver
- Graphic designer
- Notary public
- Online course creator
- Online tutor
- Pet sitter
- Dog walker
- Virtual assistant
- Flipping furniture
- Retail arbitrage
- House cleaning
- Freelance writer
- House sitting
- Social media management
- Gardening and landscaping
Truly, this list is only the tip of the iceberg when it comes to starting a side hustle this year. Side hustles are a great way to flex your creative thinking.
Furthermore, it’s never been easier to start a side hustle thanks to the growing number of platforms that help match customers to sellers, such as:
- Ridesharing: Lyft and Uber
- Delivery services: Amazon, DoorDash, and GrubHub
- Labor support: Handy and Task Rabbit
- Virtual services: Fiverr and UpWork
Now Is the Perfect Time to Start a Side Hustle
If you want to know when you should look for a side hustle, pursue your side hustle ideas, or start a side hustle, the answer is now.
Here are five reasons you should start a side hustle as soon as possible:
- It’s a way to focus on your passions, whether or not related to full-time work
- Provides an additional stream of income—or even multiple streams of income!
- Develops skill sets
- Allows you to pay off debts quicker
- It’s a way to save more money
The Gig Economy Is Growing and Shows No Signs of Stopping
Another reason to consider your side hustle ideas is that the gig economy is not only stable, but it’s also growing.
More than 75% of gig workers plan to do the same gig work or more in the next year. By 2027, it’s estimated that about half of the U.S. population will have worked in the gig economy. By 2028? There very well may be over 90 million gig economy workers.
Don’t Forget About Taxes for Side Hustles
Your side hustle ideas and side hustle work can make a huge impact on your life. Whether it’s a few hundred dollars or thousands, side hustle income can change lives. When it does, don’t forget to keep taxes in mind.
The tax experts at 1-800Accountant are experienced in handling taxes for side hustles. Our accountants and bookkeepers can work with you on quarterly estimated taxes, annual filings, and maximizing deductions to lower your taxable income.
Work with the professionals at 1-800Accountant to ensure your side hustle is successful this year!
This post is to be used for informational purposes only and does not constitute legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. 1-800Accountant assumes no liability for actions taken in reliance upon the information contained herein.