Survey finds one in three Americans engaged in side hustles
-
4:11
Visit Milwaukee previews October event calendar
-
3:22
Carve out some time Sunday for River Bend Nature Center’s annual...
-
2:32
Trump campaigns in deep blue Dane County, Milwaukee
-
2:41
Despite Game 1 loss, Brewers fans hope exciting, young team can...
-
2:08
Second Gentleman campaigns for VP Harris in Milwaukee, visiting...
-
0:47
Memorial marks 6-month anniversary of Sade Robinson’s disappearance
-
1:00
Milwaukee County Executive David Crowley delivers 2025 budget...
-
1:56
Milwaukee leaders implement new measures, cracking down on reckless...
-
2:06
On his 100th birthday, Milwaukeeans remember the homes Jimmy...
-
1:16
Postal workers protest in downtown Milwaukee; ’No closures,...
-
1:53
Bay View woman held at gunpoint by man trying to steal her dog
MILWAUKEE (CBS 58) -- A recent survey reveals that one in three Americans are earning extra income through side hustles, such as delivering takeout or freelancing.
One local expert say that the trend reflects a growing need to supplement main job earnings due to persistent inflation and rising living costs.
Financial professional Tom Neumann from Drake & Associates joined us Wednesday, Oct. 2 to discuss the issue, noting that side hustles are becoming necessary for many to make ends meet. He said that about 36% of Americans use income from side gigs for regular expenses like rent or groceries.
Neumann also warned of tax implications, stating that any gig work income over $400 must be reported to the IRS. He advised those starting a side hustle to consider how extra earnings may affect their tax bracket and Social Security benefits.
Find out more from Drake & Associates by clicking here.