tfreer85 Posted February 15, 2007 Share Posted February 15, 2007 Okay I like my current job and all its perks of being a gov't employee. However, my salary maxes out around 33k not including overtime. We can work anywhere from 12-88hrs of overtime a 2 week pay period. This is nice and makes a nice paycheck, but it can't be accounted for or relied upon for anytype of bills or loan. A normal work week consists of basically 3-1/2 12hr days of work, so there can be a lot of down/off time. This is where I need your guys' help, I'm looking for something low stress that will bring in a steady flow of extra money. I figure if it can bring +10k a year or have the potential to make more if I have more time to devote to it. Here are a couple of ideas I've thought of so far: Business Card/Logo/Letterhead/Web Design Computer Builder Real Estate Design Some sort of mail order company (don't know what type) Custom Home stereo/theater setup and installation Any ideas are welcome, however I can't really work for another company like a resturaunt becuase my schedule can be very crazy at times. Thanks a lot for any help, Tyson Quote Link to comment Share on other sites More sharing options...
jnjdragracing Posted February 15, 2007 Share Posted February 15, 2007 I work on cars / 4wheeler / motorcycles etc. for side money. I make the most when I take on a Race car project and have to re-wire or do metal fabricating or Engine building. I am in the computer Industry and make extra money doing cabling etc. Computer sales not much money in it any more / service yes but have to be avaliable plus interfears with my real job. Might work for you. John Quote Link to comment Share on other sites More sharing options...
m1ghtymaxXx Posted February 16, 2007 Share Posted February 16, 2007 Drug dealing? somebody had to say it. Do you have the tools and facilities to be a mechanic? Quote Link to comment Share on other sites More sharing options...
tfreer85 Posted February 16, 2007 Author Share Posted February 16, 2007 Drug dealing? somebody had to say it. Do you have the tools and facilities to be a mechanic? Haha, no drug dealing maybe i need to add LEGAL ideas I don't have the tools, outside of the basics, facilities wouldn't be that hard to get, however it would be hard to be dependent mechanic or reliable time wise. I'd prefer something internet/email based so I can do some work at my current job in between calls. Thanks guys for the ideas so far, Tyson Quote Link to comment Share on other sites More sharing options...
cygnusx1 Posted February 16, 2007 Share Posted February 16, 2007 Start a small online business selling widgets. Quote Link to comment Share on other sites More sharing options...
WickedWild Posted February 16, 2007 Share Posted February 16, 2007 I've parted out cars on ebay. The nice part is you get to keep all the parts you want and scrap what dose not sell. Quote Link to comment Share on other sites More sharing options...
DavyZ Posted February 16, 2007 Share Posted February 16, 2007 I've parted out cars on ebay. The nice part is you get to keep all the parts you want and scrap what does not sell. This is an excellent idea. A person just needs space to keep the car while dismantling it. Look for what Q45 parts are going for and then look at what a wrecked or nearly wrecked Q45 goes for...sheesh. With the right cars, you can make money doing it. Davy Quote Link to comment Share on other sites More sharing options...
Guest Mike Posted February 16, 2007 Share Posted February 16, 2007 I could expound for hours about the pluses and minuses of eBay. I'll just say this for now... one can EASILY make $40/Hr (tax free... eh, hem...) income via eBay just buying and selling over the same medium. Find a NICHE MARKET... in which ONLY a FEW people are well-versed AND are dealing with. Take GREAT pics... NEVER lie... always be straightforward with "little imperfections" (NEVER "problems")... just accentuate the positive. Take the occasional $crewing for which eBay is FAMOUS because those neg feedbacks are often unfair and they'll mess up your final auction prices. Make sure you have someone who can FOLLOW THROUGH with any UNFINISHED DEALS in case you're sick or hurt. Blah, blah, blah... I had ~4500 deals with ~2500 feedback (VERY few negs)... sometimes people just don't leave FB. I lost money on ONE DEAL in the entire 4500 or so... and that was from "STOOPIDITY". PM if you want to know more. Quote Link to comment Share on other sites More sharing options...
stony Posted February 16, 2007 Share Posted February 16, 2007 I was reading the what do you do for a living thread and saw that someone starting making the little anti vibration handle bar things and marketed them on the internet and now its a primary business. I was like WTF why didnt i think of something like that. I have always thought about finding the couple of things that i could just sit at home and sell out of the house. havent had the time of brazery to commit and invest in something to sell. But it is a great idea if you find the thing Quote Link to comment Share on other sites More sharing options...
tfreer85 Posted February 16, 2007 Author Share Posted February 16, 2007 A lot of good ideas, my question about the Ebay setups is can you claim this as income? Essentially what my main goal right now is house ownership, current pay only affords 100% Financed for 225k, that doesn't buy didly worth owning in my area. The ebay sounds great, but if it falls under a similar circumstance to my overtime, it doesn't do me much good outside of having more play money and not much towards a taxable, claimable, income to afford more house. I'm definitely scheming with the Ebay stuff and what can be sold on there, so if I can make a claim for it as a secondary income I'm gun-ho for it. Quote Link to comment Share on other sites More sharing options...
stony Posted February 16, 2007 Share Posted February 16, 2007 i would think if yo made money on ebay (good amount) you would have to keep records and report it as income. just my 2 cents. i see guys on there with 100k+ in auctions ended successfully that has to be something that is reportable somehow. Stony Quote Link to comment Share on other sites More sharing options...
Lunar240z Posted February 16, 2007 Share Posted February 16, 2007 how about powdercoating? Quote Link to comment Share on other sites More sharing options...
Guest Mike Posted February 16, 2007 Share Posted February 16, 2007 I'm NOT a CPA... but if your INTENT is to buy low and sell high... that's a profit venture and MUST be turned in as income. BUT... if you've bought something and changed your mind... or are simply trading around your collectibles... you have SOME leeway. I think the idea is to be umm... conservative enough to not raise any RED FLAGS. A lot of good ideas, my question about the Ebay setups is can you claim this as income? Essentially what my main goal right now is house ownership, current pay only affords 100% Financed for 225k, that doesn't buy didly worth owning in my area. The ebay sounds great, but if it falls under a similar circumstance to my overtime, it doesn't do me much good outside of having more play money and not much towards a taxable, claimable, income to afford more house. I'm definitely scheming with the Ebay stuff and what can be sold on there, so if I can make a claim for it as a secondary income I'm gun-ho for it. Quote Link to comment Share on other sites More sharing options...
tfreer85 Posted February 16, 2007 Author Share Posted February 16, 2007 i would think if yo made money on ebay (good amount) you would have to keep records and report it as income. just my 2 cents. i see guys on there with 100k+ in auctions ended successfully that has to be something that is reportable somehow. Stony Thats, what I'm assuming as well. I guess I need to research on how to do that legitimately and then go at it. Lunar, I like the idea of powdercoating, it'll keep me involved in cars and has the ability to expand. It also seems like it wouldn't take up a huge amout of room (in a garage, shop, etc) and somewhat portable. Mike, I guess i would fall under the profit venture, which is fine I'm WANTING this to show up as income. I'll have to talk my CPA and see how I can go about doing this legally. Thanks a lot guys for all the ideas, no for a whole lot of sleepless nights scheming on it. Tyson Quote Link to comment Share on other sites More sharing options...
Guest Mike Posted February 16, 2007 Share Posted February 16, 2007 Just be conservative, guys. Don't "move" a gazillion bucks in "merchandise". Buy, change your mind, sell... collect and trade... blah blah. Don't brag about "profits" because that's NOT you're goal, right? If you're going to make a "business" of it then declare your vehicle, part of your house, computer, digital camera, yadda yadda yadda as tax deductions. But all that crap is no fun, is it? Just have fun with your HOBBY. Should you sell a few things for a little more $$$ than you paid for them... that's just luck, RIGHT?? Quote Link to comment Share on other sites More sharing options...
Sparks280zt Posted February 16, 2007 Share Posted February 16, 2007 I dont know if you can find any, but I was lucky enough to acquire several hundred old educational films. I am talking about the reels type, 16mm to be exact.I got all these films for free and most schools like to unload them as they are not used and are taking up space. I put the films on ebay in lots of 5-6 in the same subject roughly, and I profited well over 6k. I have not been able to find anymore. Quote Link to comment Share on other sites More sharing options...
Pop N Wood Posted February 16, 2007 Share Posted February 16, 2007 Technically you are suppose to claim any and all income you make selling stuff on ebay. Even the occasional used pair of boots should be claimed. But, if you claim it as income, then you are also allowed to deduct the cost of depreciation. That is why the IRS doesn't care about not reporting casual sales. If you clean out the garage and sell a bunch of used items, by IRS standards you will be losing money cause you selling everything for less than you paid for it. But if you buy a wrecked car and sell the parts for more than you paid, including selling expenses, then you have just made taxable income that you are required to report. Quote Link to comment Share on other sites More sharing options...
Guest Mike Posted February 16, 2007 Share Posted February 16, 2007 ^^^ Sounds about right... but if one buys 4 or 5 cars for the parts he needs and piece meals out the rest on eBay that's not going to raise any red flags. If he buys and parts out 30+ cars... that might. Quote Link to comment Share on other sites More sharing options...
cygnusx1 Posted February 16, 2007 Share Posted February 16, 2007 I was reading the what do you do for a living thread and saw that someone starting making the little anti vibration handle bar things and marketed them on the internet and now its a primary business. I was like WTF why didnt i think of something like that. I have always thought about finding the couple of things that i could just sit at home and sell out of the house. havent had the time of brazery to commit and invest in something to sell. But it is a great idea if you find the thing That'd be me. All you need is a simple idea, someone to mass produce it for you, a website, and a spare room in the house for inventory and shipping....oh and a good accountant. Quote Link to comment Share on other sites More sharing options...
rustrocket Posted February 16, 2007 Share Posted February 16, 2007 I don't know if you're into fitness at all, but it's a booming market. I've been in the personal training/fitness coaching business for a couple years now. I work on avg about 15 hours per week, and make over $30K a year. Not bad for side work. Quote Link to comment Share on other sites More sharing options...
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