EARNING a substantial income from side hustles is no longer a pipe dream.
One savvy businessman has shared his story of how he bags hundreds of dollars in just a few hours.
Notaries, or notary publics, witness and authorize the signing of important documents, like passport applications and real estate contracts.
The unnamed individual says he specializes with the latter, and earns wads of cash for his time.
“Sell side [I earn] $75, buyer side $100,” he revealed – adding that an appointment can take as little as 30 minutes.
Notary whizz Jimez Williams took to TikTok to applaud the venture.
“Starting a loan signing service is a fairly lucrative business that is relatively easy to get into,” he said in a video uploaded to TikTok.
“By owning a loan signing service, you’re connecting with title companies who help people buy homes or sell homes or lawyers who have clients that are outside of the state find a way to still get their documents authorized or certified and brought back to their office.
“You are helping them with that process.”
Other side hustles to try out
Get social
With time and a bit of commitment, you can build up a strong enough following on social media platforms and get paid to promote products and services.
The simplest way to earn money is by partnering with a brand as an Instagram influencer.
They send you products to test out and review in your posts and in exchange they’ll pay you a fee.
You must have a minimum of 1,000 followers to become an influencer and the more followers, the bigger the fee.
You’re followers also need to engage with your posts, as this also affects how much you
Sell, sell, sell
Good for your wallet and for the world, reselling unwanted items such as clothes or children’s toys is increasingly popular.
There are plenty of apps and websites that make it super easy to sell your items online by finding potential buyers for you and handling a lot of the shipping process.
Each platform and app offers something slightly different, so it can be a good idea to try a few out until you find one that works for you.
The biggest and the most established platforms are eBay and Amazon.
Both have massive reach, though Amazon’s Marketplace tends to appeal mostly to small businesses.
Some side hustlers scour thrift shops for cheap items they then sell on for a profit.
Generally speaking, there’s no limit on how much you can earn from reselling but the more expensive and in demand the item, the bigger the profit.
Secondhand designer handbags can go for hundreds and sometimes thousands of pounds.
Side hustles and tax implications
Extra income you make from side hustles may need to be reported to the IRS.
If you receive more than $600 in gross payouts from a selling platform like eBay, the site will issue you a Form 1099-K to use in your tax return.
Individuals should calculate their adjusted gross income, taxable earnings, and deductions for the year.
Once they have that, they can use the 1040-ES form to calculate estimated taxes.
