I wounder how much time it took and what his effective hourly rate ends up being. And if the government wants to now classify it as income seems fair he might want to report all of the expenses involved. Probably end up with IRS being owed nothing, maybe enough expenses that he might be owed a tax refund?
Says it was a two year time span.
So $150,000 per year.
If he spent two hours five days a week.
150,000 / 520 = 288 bucks per hour.
Just a SWAG, but that’s WAY better than driving Uber or Shipt.
“I wounder how much time it took and what his effective hourly rate ends up being. And if the government wants to now classify it as income seems fair he might want to report all of the expenses involved. Probably end up with IRS being owed nothing, maybe enough expenses that he might be owed a tax refund?”
He has a profession and did this in his off time. It’s doubtful he spent more than 25 hours a week at it. That’s 1300 hours if he did it every week. That’s $230 an hour before taxes. Even after taxes $200k or so is huge for a side gig. And yes, he should be able to write off a lot of mileage and the money order fees. That would make little difference though.
I wonder how much of this one could do before drawing the attention of the IRS. I like the concept and would just pay the taxes, might try it.