Even when income from mostly passive activities — like renting out your personal possessions — is classified as self-employment income, you can qualify for tax breaks that are likely to drastically cut Uncle Sam’s take. Specifically, self-employed individuals can deduct all the expenses required to earn this income before determining the taxable portion of the revenue. There’s also a special 20% deduction that further reduces the taxable portion of self-employment income, Luscombe says. But you should seek professional tax guidance to determine which rules affect which forms of your revenue. The U.S. tax code is complex and full of land mines.
It is certainly an interesting segment of the cryptocurrency industry, especially as NFTs have revolutionized the concept of in-game assets. As blockchain technology develops, crypto platforms may be able to host more complex games and we'll likely see more pay-to-earn coins like Axie.
“While in school, think about the teacher as your client – you want to meet and exceed their criteria," she said. "If you do that, you’re one step ahead with your portfolio, with solid images after graduation.”
The company's CEO said its team wants to be deliberate in how it builds its product to avoid some of the pitfalls other tech startups have faced.
Examples include an organizational blog providing a printable cleaning schedule, or a home decor blog offering printable labels for decoupage canisters. These are items that your audience would not typically have access to and are exclusive to your creative line.
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