More Americans are getting into side jobs as inflation drives up the cost of living.
In fact, 22% of households have recently started a side business or second job, according to a new Financebuzz survey.
Meanwhile, more than one in five (23%) believe he will have to work until he dies.
If you’re looking to earn some extra cash, a self-proclaimed “tech nerd” on TikTok has shared an easy way to earn $200 an hour.
Nik Pollina, 29, based in New York, said: “I’m a user experience researcher and in my work I’ve used what are called usability tools.
“The problem with usability tools is that we need real people to test our products.”
Products can be real things, websites, apps and more, that’s where you come in.
Nik said there are a variety of different tools to sign up that will give you money to test items.
Tests can take anywhere from five to 30 minutes, which means you don’t need a lot of time.
Nik added, “They’ll pay you anywhere from $5 to up to $200 an hour.
“I really don’t know why more people don’t, it’s all on your phone.”
She then recommended the following sites:
- User Zoom
- testing time
- Validate my
Nik added in the comments section that his aunt says three separate sites UserInterviews, UserCrowd and Branded Surveys pay the best.
While another follower commented, “As a UX researcher, thank you. I need more participants!!”
Before you sign up for anything, be sure to do your own research.
Tax rules of a secondary agitation
Whether you’re working side-by-side in addition to a full-time job or performing several part-time gigs, your income is taxable.
Not only that, but you should report your income from a side hustle or self-employment differently than you would report standard income.
A Form 1040 is required for those with multiple sources of income, as you must list all of your income on one form.
Additionally, you will need to file a Schedule C and Form SE to file your self-employment taxes.
If you have multiple sources of income, talking to a tax professional can help you sort out what forms you need to submit and how to fill them out correctly.
The extra income can also move your household into a different tax bracket, which will impact how much you’ll have to pay the IRS.
However, working on the side allows you to claim more tax exemptions, as you can declare your expenses for possible tax deductions.
You’ll need to have proof of the money you spent on your scramble, so be sure to save all relevant receipts for tax season.
For those looking for other side hustle to earn some extra cash, here’s how you can make $10,000 in a month on Amazon.
There are even ways to make a lot of money selling old and used clothes and accessories.