Earning extra income through freelancing or gig work is the fastest way to stabilize after bankruptcy. However, this income arrives "gross," meaning no taxes have been withheld. Failing to plan for the 15.3% self-employment tax can create a new cycle of debt.
📋 Roadmap Overview: Tax Compliance for Rebuilders
- • The 30% Rule: Always set aside roughly 30% of side hustle gross income to cover Federal and Self-Employment taxes.
- • Calculated Reserves: Use the tool below to move beyond "rule of thumb" and identify specific quarterly liability.
- • Compliance: Staying current on taxes prevents the IRS from becoming a new high-interest creditor during your rebuild.
Logical Next Step
Now that you understand the tax implications, learn how to maximize your take-home pay by picking the right platforms.
View the Freelancing Mastery Guide →