The Freelancers' Blog

4 Ways to Use Your Stimulus Payment to Grow Your Side Hustle

Mar 18, 2021 7:06:33 PM / by SoleVenture posted in Health Insurance, Freelancer, Taxes, Incorporate, Form Your Business, Business of One, Side Hustle, American Rescue Plan, Stimulus

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Last week, President Biden signed the $1.9 trillion American Rescue Plan into law. The Plan has several benefits that can help freelancers. One of the biggest benefits is the payment of an additional cash stimulus to qualified individuals and families. If you reported less than $75,000 ($150,000 if you filed jointly) on your last tax return, you’ll receive a $1,400 stimulus payment per person, including children and dependents. This means an eligible family of 4 would receive $5,600 – this is a lot of money! (Use the IRS’ Get My Payment Tool to see when and how you will receive your payment if you haven’t already.)

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