Author Topic: starting your own side hustle and accounting issues  (Read 1634 times)

Iron Mike Sharpe

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starting your own side hustle and accounting issues
« on: November 25, 2013, 12:26:58 PM »
All,

I have been considering starting my own side hustle.  I did some basic web work in the late 90's and early 2000's.  I have been kicking around the idea of starting up a couple of different web based content sites on some topics I have a good amount of knowledge in.  I think these projects would get me to go back in and re-learn a lot of the skills I used to have as well as learning JavaScript and some database administration. 

Anyway, after I re-teach myself these skills and create these websites, I think as they find an audience, they could bring in some money. 

Right now, one of the things I need to learn is how I would run this as a business from an accounting perspective.  What knowledge would I need to gain and where would I find it?  Would this business need to be run as a separate entity?  How would I handle buying software, hardware or other electonics, hosting services, etc from an accounting perspective.  I'm guessing I could somehow deduct my home office in my taxes too, but not sure what I would need to do for that.

I guess what I really need is some good sources of info for running the finances of your own home based business.  I'd like to spend some time learning that while I decide if I want to start these projects I have in mind.