Hmm… Sounds like we should do some tax magic to file our cost of living as operating expense in some way, we can’t earn those income if we are not alive after all.
You can’t deduct personal expenses, but you absolutely should be operating a side business with its own deductible expenses. That side hustle will probably be operating at a loss, and that loss will offset your W2 employment income.
Hmm… Sounds like we should do some tax magic to file our cost of living as operating expense in some way, we can’t earn those income if we are not alive after all.
You can’t deduct personal expenses, but you absolutely should be operating a side business with its own deductible expenses. That side hustle will probably be operating at a loss, and that loss will offset your W2 employment income.