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These additional income streams can help pay down debt, build savings or cover rising living costs.
However, managing this income effectively is where many stumble.
Without the rightbanking strategies, side gig earnings can easily get lost in the shuffle of everyday finances.
It takes more than hustle to make side gig income work harder.
Choose the Right Account jot down
Not all accounts are created equal.
Businesschecking accountsoffer features like higher transaction limits, payment processing and tax reporting tools that personal accounts may lack.
Many banks now offer fee-free or low-fee options, which are critical for smaller operations.
For side businesses that accept cash, a local bank can be themost convenient option.
Its also worth looking for bonus offers.
Bonuses like these can add value, especially when starting out.
This can lead to serious consequences.
In 2024, theIRS investigated1,373 cases of tax crimes, with 615 defendants sentenced.
Explore Banking Features That Add Value
Banks often offer tools to streamline financial management.
Look for accounts that include features like invoicing software,ATM fee refundsor promo deals on other business tools.
These can reduce the time spent managing finances and help identify opportunities for savings.
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