Lucrative hobbies for people with spare time

[DaShen]

What is really lucrative would be to pull a "K-Fed" as a hobby.

 

[Queasy]

Even if you have a hobby that isn't seen as "lucrative", you could always make it lucrative by opening your own store or business specializing in that hobby.

I took my kid to a model train show this past weekend and there was a couple who made money by building these immense/expansive/ridiculously detailed train layouts. Browsed around online and found some more people doing that. Really gorgeous work too.

 

[MercenaryForHire]

So you've got all this free time and you want to fill it with another job?

Cars was already mentioned, gardening if your climate allows (but it's not really something you can get into right now) - why not a sport? Join a McDojo that does full-contact sparring.

- M4H

 

[purbeast0]

website coding.

 

[pontifex]

Originally posted by: purbeast0
website coding.

he said away from the pc

 

[dr150]

Notary, Carpenter, Day Trader, Appraiser, Audiophile stereo equipment Builder, Ebay Seller, Porn Distributor, Porn Maker, Angel Financer, Movie Producer, PIMP, Drug Dealer, Contract Killer, Pet Detective, Dog Walker

 

[JEDIYoda]

I know a gentleman in his 30`s who all he does is hit the local thrist shops in a 100mile radius of his home!
He buys all there used CD`s as well as all there used video`s and anyuthing else that looks new that he can jack thew price up on and sell on e-bay...sometimes he can even sell the stuff as "NEW"........
Hs said his CD buisness is very lucrative.......
You buy the CD for $1 and sell it used for up to $8 or $9 dollars.....
lolol

 

[robothouse77]

make those sculptures that look like snakes from old auto parts
my mom (stupidly?) bought one for 200 bones...

 

[Phokus]

Hitman sounds like loads of fun. Too bad it's illegal/immoral.

 

[zinfamous]

Hydroponics

 

[sager66]

Lucrative hobby . . just another way of saying part-time business. Consider carpet re-stretching (getting those waves out).

 

[ebaycj]

Originally posted by: zinfamous
Hydroponics

 

[neovan]

tutor? teach a class in something you're knowledgeable about?

otherwise, learn some woodworking, then sell your stuff.

 

[MadPeriot]

Originally posted by: yllus
Lucrative as in make money? Hobbies cost money, they don't bring it in!

Thats not true.

I play tennis as a hobby, and I love the sport. I coach kids on the side and its making great extra money.

 

[MadPeriot]

Originally posted by: jacob0401

Originally posted by: Glavinsolo

Originally posted by: jacob0401
RC Car/Airplane
Sports

how are those lucrative?

sorry bad reading comp...most hobbies aren't lucrative though. At the minimum it would require initial investment before you acquired a skill set that you could possibly sell.

True. I spent a lot of money on tennis..but now I'm making my money back from coaching. But just working with kids who wants to learn is priceless.

 

[irishScott]

Making and launching high-power model rockets. Actually launched a couple myself back in High School.

 

[Kirby]

Get some vines and make some wine.

 

[monk3y]

Poker and sports gambling... (though I don't do it I'm guessing it could get lucrative).

 

[Kyteland]

Originally posted by: Ronstang

Originally posted by: yllus
Lucrative as in make money? Hobbies cost money, they don't bring it in!

That is not necessarily true. I still love building cars. So much so it really doesn't matter which or whose car I am working on. I do lots of work for friends and it completely supports me building my cars because I don't really spend any money anymore as I get parts and supplies in return.

My cousin does a lot of woodworking. He does projects for other people that bring in money for more wood and tools. He's made a lot of the furniture in his house as well, and his projects make great gifts for birthdays/christmas. Since he always seems to have more paying projects lined up than he has time to do, I'd say that it's paying for itself.

Don't pick a hobby based on what you think it'll pay. That's called a job. Find something you genuinely enjoy and do it. Anything it may pay on top of that is a bonus.

 

[imported_bum]

Originally posted by: ebaycj

Originally posted by: zinfamous
Hydroponics

 

[FoBoT]

Originally posted by: yllus
Lucrative as in make money? Hobbies cost money, they don't bring it in!

yeah, this question is an oxymoron

http://www.irs.gov/businesses/small/article/0,,id=99239,00.html

Is it a Business or a Hobby?

It is generally accepted that people prefer to make a living doing something they like. A hobby is an activity for which you do not expect to make a profit. If you do not carry on your business or investment activity to make a profit, there is a limit on the deductions you can take.

You must include on your return income from an activity from which you do not expect to make a profit. An example of this type of activity is a hobby or a farm you operate mostly for recreation and pleasure. You cannot use a loss from the activity to offset other income. Activities you do as a hobby, or mainly for sport or recreation, come under this limit. So does an investment activity intended only to produce tax losses for the investors.

The limit on not-for-profit losses applies to individuals, partnerships, estates trusts, and S corporations. For additional information on these entities, refer to business structures. It does not apply to corporations other than S corporations.

In determining whether you are carrying on an activity for profit, all the facts are taken into account. No one factor alone is decisive. Among the factors to consider are whether:

You carry on the activity in a business-like manner,
The time and effort you put into the activity indicate you intend to make it profitable,
You depend on income from the activity for your livelihood,
Your losses are due to circumstances beyond your control (or are normal in the start-up phase of your type of business),
You change your methods of operation in an attempt to improve profitability,
You, or your advisors, have the knowledge needed to carry on the activity as a successful business,
You were successful in making a profit in similar activities in the past,
The activity makes a profit in some years and the amount of profit it makes, and
You can expect to make a future profit from the appreciation of the assets used in the activity.
For details about not-for-profit activities, refer to Publication 535, Business Expenses.

 

[mugs]

Originally posted by: yllus
Lucrative as in make money? Hobbies cost money, they don't bring it in!

:thumbsup:

 

[Phokus]

Originally posted by: FoBoT

Originally posted by: yllus
Lucrative as in make money? Hobbies cost money, they don't bring it in!

yeah, this question is an oxymoron

What about ebay? Some do it as a hobby and bring in a little cash...

 

[FoBoT]

Originally posted by: Phokus

Originally posted by: FoBoT

Originally posted by: yllus
Lucrative as in make money? Hobbies cost money, they don't bring it in!

yeah, this question is an oxymoron

What about ebay? Some do it as a hobby and bring in a little cash...

if they are making a profit, it is a business, not a hobby

Is it a Business or a Hobby?

It is generally accepted that people prefer to make a living doing something they like. A hobby is an activity for which you do not expect to make a profit. If you do not carry on your business or investment activity to make a profit, there is a limit on the deductions you can take.

You must include on your return income from an activity from which you do not expect to make a profit. An example of this type of activity is a hobby or a farm you operate mostly for recreation and pleasure. You cannot use a loss from the activity to offset other income. Activities you do as a hobby, or mainly for sport or recreation, come under this limit. So does an investment activity intended only to produce tax losses for the investors.

The limit on not-for-profit losses applies to individuals, partnerships, estates trusts, and S corporations. For additional information on these entities, refer to business structures. It does not apply to corporations other than S corporations.

In determining whether you are carrying on an activity for profit, all the facts are taken into account. No one factor alone is decisive. Among the factors to consider are whether:

You carry on the activity in a business-like manner,
The time and effort you put into the activity indicate you intend to make it profitable,
You depend on income from the activity for your livelihood,
Your losses are due to circumstances beyond your control (or are normal in the start-up phase of your type of business),
You change your methods of operation in an attempt to improve profitability,
You, or your advisors, have the knowledge needed to carry on the activity as a successful business,
You were successful in making a profit in similar activities in the past,
The activity makes a profit in some years and the amount of profit it makes, and
You can expect to make a future profit from the appreciation of the assets used in the activity.
For details about not-for-profit activities, refer to Publication 535, Business Expenses.

 

[Phokus]

Originally posted by: FoBoT

Originally posted by: Phokus

Originally posted by: FoBoT

Originally posted by: yllus
Lucrative as in make money? Hobbies cost money, they don't bring it in!

yeah, this question is an oxymoron

What about ebay? Some do it as a hobby and bring in a little cash...

if they are making a profit, it is a business, not a hobby

Is it a Business or a Hobby?

It is generally accepted that people prefer to make a living doing something they like. A hobby is an activity for which you do not expect to make a profit. If you do not carry on your business or investment activity to make a profit, there is a limit on the deductions you can take.

You must include on your return income from an activity from which you do not expect to make a profit. An example of this type of activity is a hobby or a farm you operate mostly for recreation and pleasure. You cannot use a loss from the activity to offset other income. Activities you do as a hobby, or mainly for sport or recreation, come under this limit. So does an investment activity intended only to produce tax losses for the investors.

The limit on not-for-profit losses applies to individuals, partnerships, estates trusts, and S corporations. For additional information on these entities, refer to business structures. It does not apply to corporations other than S corporations.

In determining whether you are carrying on an activity for profit, all the facts are taken into account. No one factor alone is decisive. Among the factors to consider are whether:

You carry on the activity in a business-like manner,
The time and effort you put into the activity indicate you intend to make it profitable,
You depend on income from the activity for your livelihood,
Your losses are due to circumstances beyond your control (or are normal in the start-up phase of your type of business),
You change your methods of operation in an attempt to improve profitability,
You, or your advisors, have the knowledge needed to carry on the activity as a successful business,
You were successful in making a profit in similar activities in the past,
The activity makes a profit in some years and the amount of profit it makes, and
You can expect to make a future profit from the appreciation of the assets used in the activity.
For details about not-for-profit activities, refer to Publication 535, Business Expenses.

Lol, i think that's the IRS definition for tax purposes...

I do ebay maybe once a month and i sure don't consider it a 'business'... i just do it for fun.