Side hustle for W2 earners

I just give leads to a point of sale rep and I get $500 to $2000 for every account they close.

I get a 1099 and pay the taxes on it in April.

quote:

---

Who has a good side hustle as a W2 earner to take advantage of the tax code besides STRs and LTRs?

---

it may not help your taxes but multiple streams of income are hard enough as is. more money is more money even without tax deductions.

define side hustle.....

ok so no counting any dividends or traditional investments? no counting my rentals? ok

below are hustles to me that make me money.

sports gambling

trading stocks/commodities

lending to HMLs

flipping properties

online selling (wife is on my company payroll and i pay her to do this)

quote:

---

laundromat?
storage units?
car wash?
vending machines?

---

i do none of this.

you can get a loan and go buy a cash flowing business if you are ready to go big time.

I take on welding projects from time to time. Took a 4 day project a couple of weeks ago and made $1000 a day. I probably made about $40k last year in side projects. Mostly cash also. There are a lot of welders on trucks but they are mostly not for hire. Roofing companies and outdoor living companies that dont have welding as a primary need are always needing field welders. It isnt easy work but I make well over $100 an hour doing it. Ive spent the last 15 years accumulating tools and probably have $25k worth the tools when i roll up. And ive been welding for that long as well.

I have also done electrical work but normally only for people I know personally. That's a bit more of a liability issue since im not licensed. I do have the ability to make the job meet permitting requirements though if its necessary.

Side hustles are pretty tough to come by making material money. If its easy then there are probably thousands of people doing it. My $.02 is to find an interest in a productive hobby and start learning it. I started a pipe fence company for about 6 months. I could have used a good hand that I could have shown how to prep and paint, how to stretch the material and/or how to even run the skid steer auger. I would have loved to pay someone to do any of that. If youre not opposed to sweating, call some small fence companies and find out if they need some help doing any of it.

Tow truck driver

Buy a tow truck and go out there and hustle

Lol you just mentioned owning a bunch of businesses, not side hustles. Vending machine probably the only one you could maybe consider a side hustle. The others cost 100s of thousands and having multiple employees

???????

Most of those are own the property and they mostly run themselves

quote:

---

Most of those are own the property and they mostly run themselves

---

You obviously don't know much about any of those businesses it seems.

Saving money is always good

Ive wanted to look into 3d printing for the nerds. I currently do pokemon on th side as I have access to a steady inventory. My higher end cards are long term holds though. My valuation on Collectr between Magoc, Disney, and Pokémon over the past 180 days is plus $11k. It is an unrealized gain but not hard to liquidate at all

I bought a bulldozer and excavator to do small land clearing jobs. I do it by word of mouth . This time of year I stay busy enough to make it worth my while. We are buying a skid steer/mulcher in a few weeks. I’ll do it a good bit more when I retire in 5 years.