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Side Hustle School
#2892 - Q&A: “How will a new presidential administration impact side hustlers?”
Dec 1, 2024
Explore how a change in presidential administration could shake things up for small business owners and side hustlers. Delve into expected tax changes and regulatory adjustments that might affect your hustle. Discover the importance of staying adaptable in an unpredictable political landscape, and learn how access to funding could shift. This insightful discussion uncovers the potential hurdles and opportunities on the horizon for those looking to earn extra income.
04:35
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Quick takeaways
- A new presidential administration may lead to significant tax policy shifts affecting side hustlers' strategies and potential savings.
- Adaptability is essential for small business owners to navigate uncertainties and focus on personal growth amidst changing regulations.
Deep dives
Impact of New Administration on Small Business Owners
A new presidential administration can bring significant changes for small business owners and side hustlers, particularly concerning tax policies and regulations. While immediate impacts may not be drastic, there is potential for meaningful shifts in tax strategies over the next couple of years, potentially offering savings or additional deductions. The administration's stance on cryptocurrency could also create new opportunities, as it is expected to be more favorable compared to the previous one, suggesting an upcoming bull run in the crypto market. Small business owners should remain adaptable and attentive to these developments, as the effects may take time to fully materialize.
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Discover
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