Side gig income can be a great way to boost cash flow, pay down debt or build savings. But as a gig worker, you may be unaware that the money you make is fully taxable, the same as a regular paycheck. The problem is that unlike with income you earn from an employer, no taxes are automatically withheld. This means that unless you’re on top of things, you could be in for a nasty surprise at tax time, and that’s a situation you definitely want to avoid. With that in mind, here’s how side gig taxes really w ...

Saving for retirement is hard enough when money is tight. It’s even harder when you work for a company that doesn’t offer a 401(k), or when most of your income comes from freelancing, consulting or side gigs. In those situations, many workers default to saving in an IRA — or skip saving altogether. The problem is that IRA contribution limits are relatively low. For 2025, most workers can contribute only $7,000, or $8,000 if you’re 50 or older (1). That may not be enough to build a serious retirement fund, ...