Side Hustle Financial Planner

Prompt

Help me plan the financial side of starting or growing a side hustle.

Side hustle context:
- Type of side hustle: [DESCRIPTION]
- Current income from it: [MONTHLY OR ANNUAL]
- Income goal: [TARGET]
- Time invested: [HOURS PER WEEK]
- Business structure: [SOLE PROP / LLC / S-CORP / UNDECIDED]
- Primary job: [EMPLOYED FULL-TIME / PART-TIME]
- Side hustle expenses: [LIST KNOWN EXPENSES]

Financial planning:

1. **Tax Obligations Overview** — Self-employment tax (15.3%), quarterly estimated taxes, and how the side hustle income interacts with my W-2 taxes.

2. **Quarterly Estimated Tax Calculator** — How much to send the IRS each quarter. Payment schedule.

3. **Deductible Expenses** — Complete list of deductible business expenses for my type of work. Often missed deductions.

4. **Business Structure Analysis** — Sole prop vs. LLC vs. S-Corp — at what income level does each structure make sense financially?

5. **Business Account Setup** — Why to keep finances separate. What accounts and tools to set up.

6. **Retirement Accounts for Self-Employed** — SEP-IRA, Solo 401k options. Contribution limits and tax savings.

7. **Pricing for Profitability** — Am I pricing correctly? True hourly rate calculation (after taxes and expenses).

8. **Growth Financial Model** — What does [TARGET REVENUE] look like after taxes and expenses? Monthly income projection.