An important but often overlooked part of a small business' financial foundation is getting a handle on business taxes.

Side hustles can be a great way to bring in extra cash or plant the seeds to grow your own small business.

As an entrepreneur, you are fulfilling many roles, and it can be easy for some of those jobs to fall through the cracks. Whatever your hustle, one of your key responsibilities is to make sure your business has a solid financial foundation. An important but often overlooked part of that foundation is getting a handle on business taxes.

As a certified financial planner professional, I work with many small business owners who have questions and concerns about their taxes. From my experience of listening to their stories and helping them navigate the ins and outs of tax considerations, I've learned some of the key tax challenges facing businesses today.

Here are my five tips for any entrepreneur with a side hustle.