Its tax time, so I’m getting all my income and expenses organized from my side hustle.
How did your side hustles go for 2016?
What did you do to earn extra income?
How much did you make? What were your expenses?
This was my first full year of working my side hustle. I run a small 3D printing, design, and technical writing company JVFTech.com. I currently have two regular customers, and a lot of irregular ones. I’m pretty happy with the results, I haven’t put much into it, and don’t do any advertising, other than running a page through 3DHubs.com.
Income for the year was around $1700. I think I could grow this a lot, but need to find the time to fit it in my schedule. My work hours tend to be irregular for my full time job, and we just had a baby 8 months ago.
I’m still working on calculating my expenses and trying to determine what qualifies and what does not. I don’t want to get in trouble with the IRS. I think my expenses will be around $800, which include depreciation on my machine, electricity to run it, 3D printing materials, among other things.
Overall I’m pretty happy with it this year. I didn’t put in a lot of time.
The 3D printing side is pretty passive. Get the order, spend 10 minutes processing it, 5 minutes to setup the print, and maybe 15 minutes to clean up after. All in it ends up being about 30 minutes of work for most prints. Rate depends on size and complexity, so my hourly income varies significantly (I would estimate between $5/hr and 60/hr).
For design work I charge $45/hr (did maybe 10 hrs of work), for consulting $55/hr (2 hours), for technical writing (no work here yet) price varies.