Living today is more expensive than ever before, practically necessitating the American middle class to pick up a second job in order to actually be able to make ends meet. A great number of families, however, simply don't have time. Between caring for the kids and finding a few hours to sleep, there's practically nothing left for the commute to and from a part-time job that may take up an additional six hours or more of your day, not to mention the weekend.
The internet has opened up a plethora of income-generating opportunities for making more money, from selling items online to working on a contract basis. In fact, there's a good chance that the hobby you enjoy so much could turn into a very enjoyable second income. Some have found so much success, in fact, that they have been able to make their hobby income their primary income.
Selling Opportunities
Opportunities for making extra money online are most plentiful in reselling items. From antiques to craft projects, there are numerous opportunities to sell goods on the internet. There are, however, a few things that you have to keep in mind. The first is that you can't duck income taxes because you're just making a few bucks on the side. The second is that by selling online, you'll have to put more thought into security, both at home and with your personal financial information. Putting yourself out there as a seller opens you up to identity theft and fraud that could quickly decimate both your personal and business finances.
Income taxes are generally reported through your payment options. Because Paypal is the number one way of accepting payments, the IRS has come up with a way of tracking the payments made through them. If your sales exceed $20,000 per year, or you have more than 200 transactions, you'll be issued a “Paypal 1099.”
Contract Opportunities
Marginally less numerous and somewhat more difficult to find are contract opportunities. If you have a specialty such as computer programming or technical writing, there are numerous opportunities out there within your field. Although you won't technically be holding a second “job” in the strictest sense, it does allow you the freedom of working on your own schedule while not having to commute or keep an inventory of product in your garage.
In order to find contract opportunities, try checking with the companies in your area to find out if they're outsourcing. If they are, there's no reason you can't throw your hat in the ring. Usually, all it takes is picking up the phone and asking. For specific online opportunities, check the trade journals from your profession to find websites that pay for contract work or act as middlemen.
Although it isn't very easy to get started, you'll find before long that with just a little dedication, you can avoid having to drag yourself home past midnight working for a kid younger than your own kid. After all, it's like they say, There's nothing quite like running your own business, even if it is a part-time gig!
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