Many are turning to the gig economy to make money. Before you rush into a side gig, scrutinize the risks, the pay and other important details. You can teach a virtual yoga class, for example, sell clothing online or work as a freelance designer. This determines how you’ll pay taxes and whether or not you’ll be entitled to certain benefits. Weiler Reynolds says freelancers or contractors may also have to pay taxes quarterly, which can be a bigger time investment.