AOL: “Your Side Hustle May Be Bigger Than You Think — And the IRS Could Agree”
September 15, 2026, AOL — Reporter Chris Adams writes in today’s article on AOL.com, “You’re crushing it with your side gig — deposits flowing in, bank account looking healthy. But the IRS sees your thriving side hustle very differently. While those earnings feel like pure profit, Uncle Sam is calculating something far less appealing.”
He asked Marguerita Cheng, certified financial planner (CFP), CEO of Blue Ocean Global Wealth: So, what’s the bottom line?
Rita said: If you’re running a side hustle that’s actually generating income, here’s the reality check. “Congratulations on generating positive cash flow from your side hustle. If you find yourself having to pay penalties for underpayment of taxes, your side hustle is becoming profitable.”
Adams concludes: That sarcasm hits home because it’s true. “So, before you hit that penalty stage, talk to a tax advisor about estimated quarterly tax payments. Set aside funds specifically for taxes and treat it like a non-negotiable business expense. Consider opening a dedicated retirement savings account too. Building wealth as a side hustler isn’t just about the revenue; it’s about keeping enough of it to make the whole thing worthwhile.”