Welcome to

Brew Wealth

Hey friends!

First, I'm so humbled you're here! I am so excited to share with you a little of my passion for financial wellness, education, and helping others become financially confident and secure. 🖤

I created Brew Wealth as a platform to encourage others, especially my female friends & followers, to take a greater interest and more proactive approach to managing their money.

Becoming educated about money is important, but taking action, even if it's uncomfortable, is how you'll grow to feel financially confident and secure.

It's my hope that you will learn something new through Brew Wealth that encourages you to take action, even little baby steps, towards bettering your financial life.

"A constant drip of financial knowledge to fill your cup."

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Brew Wealth Blog

A drop of financial knowledge to fill your cup

Side Hustle Income + Taxes

If you're bringing in money from babysitting/nannying, selling handmade goods on FB Marketplace or Etsy, tutoring your neighbors’ kids, IG influencing, etc., you'll need to do some careful planning when it comes to how you'll pay the taxes on the income you earn.

You see, when you work as a W2 employee, your employer handles the tax-withholding for you (they even pay some of the taxes for you!) but when you work for yourself or as an independent contractor, you are the one responsible for making sure you withhold & save the appropriate amount of money from your earnings to pay the taxes that will be due on that earned income.

When you're an independent contractor providing services to a company, but you're not on payroll as a W2 employee, you should receive a 1099 from the company that shows how much income you earned for the year. They are required to send you a 1099 if they've paid you $600 or more during the year. As a reminder, there are no taxes taken out of your pay when you are an independent contractor so you're responsible for keeping some money set aside to pay for taxes on the income you received.

If you work for yourself, you are considered self-employed and you are responsible for tracking all your business-related income and expenses and reporting this information correctly on your tax return. You won't issue yourself a W2 or 1099, so you need to make sure you keep meticulous records. And yes, that does mean keeping track of receipts for business-related expenses just in case you're audited! If you have net income of $400 or more, you're required to report your side-hustle income when you file your taxes.

✨What’s the best way to keep track of your income and expenses?

From experience with my small business, Brew Wealth, I just keep everything outlined in a spreadsheet. I utilize a separate bank account for all business-related transactions (highly recommend doing this!) and keep a simple record of income earned, fees paid, and expenses incurred for all the software I use, equipment I have purchased and other business-related expenses.

If your business is more complicated, you may opt to use a bookkeeping software such as QuickBooks or even hire a bookkeeper to do it all for you!

✨How much money do I need to save specifically for taxes?

The standard recommendation is to save between 25%-30% of your income specifically for taxes. When you get paid, take 30% of that income and transfer it into a high-yield savings account to earn a little extra on your savings while you wait until it’s time to file your taxes.

Let’s say you sold a painting for $500. I know it hurts a little but take $150 of it and put it aside ... now. Pretend like it doesn’t even exist! If you do this every time you get paid for a job or sell a product or service, it will become easier over time and you’ll be so happy you did it when you get that lovely tax bill. 😉

🚨Note: If you think you might owe more than $1,000 in taxes on your side-hustle income, you're expected to make estimated quarterly tax payments, or you could be penalized when you file your taxes. If you're in this boat, hopefully you're working with the guidance of a CPA or financial planner. If you’re not, you might want to!

And because I think it’s important to understand why we do what we do, I wanted to share this last little bit of info with you.

✨Do you know why we pay taxes?

✨Do you know what paying taxes on this money is doing for YOU and your community?

It's doing more than you probably think and can be huge life saver down the road...

When you pay taxes, you are helping fund various social projects such as healthcare, education, environmental protections, unemployment benefits, childcare, and so much more.

I stay as far away from politics as possible, and when we talk about paying taxes people tend to grumble and get annoyed at how much tax we must pay the government, complain that the government doesn’t do what they say they will do, etc. I get it. It’s frustrating but I’m sure most of us can either agree that we have personally benefited from some of these programs or know someone that has. Fun fact: 1 in 4 Americans relied on unemployment benefits in 2020.

I know some of you are thinking, “You want me to tell the government I made $20,000 in tips/sales/earnings this year and pay taxes on money they don’t even know I made? Why would I do that?”

First, if you were to get audited by the IRS and they see you had income you didn’t report, you will be penalized ON TOP of having the pay the taxes. So, there’s always the chance they could find out. Besides, it’s the law. 😊

Although there are more reasons why, I’ll leave you with just one more that is more likely to hit home.

I have a friend who is a hair stylist. The way stylists are paid varies, but some stylists are paid as independent contractors, so they are responsible for paying their own taxes on the money they earned through the company they work for, but also on the tips they receive. Now, my friend could have chosen not to pay taxes on her tip money because that money wasn’t reported to the IRS on a 1099, but she didn’t. She reported the tips as income on her tax returns, paid the taxes owed on this income and when she became disabled later in her career and couldn’t work, she was able to receive social security disability benefits which helps replace some of her lost income. Now, you might think that the money you earn from tips isn't a lot but let's just say she earned $100/day. That adds up fast! That could easily turn into $24,000/year. Had she not paid taxes on the tips she earned, her reported wages would have been lower which would have reduced her total disability benefits. While the disability income isn't a full replacement for what she was earning before, I think it's safe to say it's better than nothing!

I know paying taxes isn’t “fun” but um, it's the law - for good reason!


I hope this was helpful and provides a little insight to why paying taxes on your side hustle income is so important. 2022 is right around the corner and there is no better time than now to start making adjustments and implement new habits when it comes to how you manage your earnings and plan for taxes.

*The information shared here is strictly for educational purposes and may or may not apply to your specific situation.*

Are you "financially well"?

What does "financial wellness" even really mean?

We hear it everywhere. I personally make reference to it all the time. But what does it really mean?

At it's core, in my opinion, financial wellness has to do with your relationship & understanding of your own personal money situation. Super basic, right?

✨Do you know how much money comes in each month?

✨Do you know how much you spend each month, and where?

✨Do you know your debt balances? (If you know your interest rates, too, I'm impressed!)

✨Are you following a money plan (aka budget), even loosely?

✨Do you know your credit score?

✨Do you have financial goals that you're working towards? Big or small, doesn't matter!

✨Do you have, or are you working towards, building an emergency fund?

Again. Just throwing some thoughts out here but if you don't know the above info, your first step to financial wellness is to start figuring it out.

I get it. Not everyone wants to know everything about personal finances, money, and investing. I don't really care to know the ins-and-outs of how my oil is changed but I DO need to understand when I should get it changed. You know what I mean?

I'm going to share some super wise advice I hear ALL the time (that I struggle with following myself) - you don't have to know everything before you start something. The important thing is that you START.

It's true. It just is. You don't have to know everything or have it all figured out right from the start, but establishing a baseline for your financial life can help you better understand where you are today, where you want to go tomorrow, and simple having a better understanding of these things can help motivate you to make a plan for how you're going to get there.

Cheering you on,

Talking about money has never been easier

The best time to start is now.

Booked until March - send me an email to join the waiting list ❤️

Who is Marie?

"And, when you want something, all the universe conspires in helping you to achieve it. "

Hi! I find introductions to be super awkward. Anyone else? 😅

Although I am originally from Michigan, my husband and I live in Tennessee now with our son and a small zoo of pets. 🐶🐱🐱

I have worked in financial services for 12+ years and became a Certified Financial Planner in 2020. What does it mean exactly to be a CFP®? It just means that I have several years of experience related to financial planning, passed a pretty hard test, and I must complete several hours of continuing education each year. A CFP® must adhere to strict ethical guidelines and always act as a fiduciary, which means that I must always act in the best interest of my clients.

But, I'm also a REAL person and a few of my favorite things are:

🎶 Music is my go to mood-booster! Some of my favorite artists are LANY, Jacob Banks, Passion Pit, Disclosure and Will Smith (don't laugh!)

✈️ Adventuring and exploring; I cannot wait to visit Seattle and Vancouver someday soon!

☕ Coffee - all day, every day.

📖 My nickname is school was "books" - I LOVE getting lost in books. My favorite author is Colleen Hoover. I've met her twice and she is just an awesome human with a great story of her own.

💭 Daydreaming about my own goals, hopes, dreams.

🤓 Listening to financial planning podcasts and reading personal finance books so I can help people better. ❤️

🤟 Do whatever I can, big or small, to make the world a better place.