I made more than $15000 in four months from side hustles without leaving home - The US Sun

Summary

AN entrepreneurial mother has taken to social media to share her work from home side hustle that pays thousands each month.

In a video from April 2021, TikTok user anastasiastemplates explained how she earned nearly $16,000 in four months through Etsy.

AN entrepreneurial mother has taken to social media to share her work from home side hustle that pays thousands each month.

In a video from April 2021, TikTok user anastasiastemplates explained how she earned nearly $16,000 in four months through Etsy.

1 TikTok user anastasiastemplates showed off how profitable an Etsy store can be as a source of passive income

By selling website templates from an Etsy storefront, she generated 203 orders worth $15,818.

Anastasia, who runs the account, said the side hustle required "minimum effort," and has become a source of passive income.

With just under $4,000 in income each month, the gig could generate close to $50,000 in a year.

"Moms, do this now, you'll thank yourself in four months or less," Anastasia, said.

She said she generates the template she sells through ShowIt and SquareSpace - two website building applications.

In addition, she also built templates on her own using Canva, a free digital photo and design editing site.

A stay-at-home mom, Anastasia said that she did most of the work to get the Etsy shop off the ground whenever her three-year-old took naps.

Selling on Etsy can be a very profitable hustle, as the platform's top earners rake in more than $65,000 annually, according to SaleSamurai.

The average Etsy seller generates around $45,000 each year, but those numbers are skewed by the site's top stores.

Roughly two-thirds of Etsy users earn less than $100 annually, according to StatisticBrain.

Etsy also charges 20 cents per product you list on the platform and takes 6.5% of sales as commission.

"POV: you make an Etsy and get 2 orders in 4 months, one being your [mother-in-law]. This ain’t for me," one commenter on Anastasia's video said.

Responding to another user who said they struggled to earn money on Etsy, Anastasia said that the keys to success are search engine optimization and keeping your supply of products updated.

Any side hustle that involves start-up costs can be risky, as you're not guaranteed to make your initial investment back.

The tax implications of a side hustle

Whether you work a side hustle in addition to a full-time job or juggle multiple part-time gigs, your earnings are taxable.

Not only that, but you need to report your earnings from a side hustle or freelance job differently than you report standard income.

A Form 1040 is required for those with multiple sources of income, as you have to list all your income on a single form.

In addition, you'll need to file a Schedule C and a Form SE to report your self-employment taxes.

If you have multiple streams of income, speaking to a tax professional can help you sort out what forms you need to submit and how to properly fill them out.

The additional income may also move your household into a different tax bracket, which will impact how much you have to pay the IRS.

Working a side hustle does allow you to claim more exemptions on your taxes, however, as you can report your expenses for potential tax deductions.

You'll need to have proof of the money you spent on your side hustle though, so make sure to keep any relevant receipts for tax season.

The Sun compiled a list of the best 10 money-making side hustles for 2022.

Plus, tips on how to make money selling on Amazon.

I made more than $15000 in four months from side hustles without leaving home - The US Sun
Photo Credit: The US Sun

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