Welcome to the Jill on Money Coronavirus Market Update. It is Thursday, August 27th, and it is, yeah, the end of the summer.

Some of you might be preparing to get your kids back to school.

Others will be preparing to continue your homeschooling.

I feel bad for everybody. So that said let's get to your questions. If you have a financial question,

send an email. Ask Jill at Jill on Money.com. If you're on our website all you have to do is hit the contact

button it's in the upper right-hand corner. Jill on money.com there you can do

so many fun things like sign up for our free weekly newsletter or buy my book or watch me on

television or listen to previous programs whatever you need it's all there on the website.

Let's do your questions here is Jeff Writing. Here's the

subject. Turning my nerdy hobby into a side gig. Oh I love this. Hi Jill I love

your podcast. What a wonderful public service you're doing for all of us during these crazy times.

I have an unusual question for you. I'm 35 single, debt-free, maxing out my 401k, Roth IRA, and HSA.

I make most of my income as a full-time W-2 employee.

But on the side, I've been experimenting

with a new, nerdy type of cryptocurrency mining. I bought this crypto mining machine last year since

then the price of the currency it produces has increased five times. If things continue

this way I will have made at least 10 grand this year.

I know I'll need to pay taxes on my earnings.

I wonder if I could somehow convert this hobby into a side gig.

That way I could sock away even more money into one of those self-employed retirement

accounts. What's the easiest way to get started? I abhor complexity. I want to avoid setting

up a trust or an S- Corp or an LLC.

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