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My side hustle wisdom for Refinery 29


However, a new study from Online Money Advisor has found that two-thirds of those earning additional income in the form of a side hustle could be committing tax fraud. The study of over 2,400 Brits showed that 67% of participants didn’t know how to check if they were committing tax fraud and over a quarter were found to be guilty of doing so. The top five ways that people were accidentally dodging taxes in their side hustle were not reporting all income (34%), overestimating business expenses (25%), using cash or cryptocurrencies for business transactions (22%), failing to file tax returns (19%) and overvaluing charity donations (7%).



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