One man’s trash can be another man’s treasure, and cardboard is one of the most valuable discarded items you can find.
Travis Davis, who runs the My Big Dumb Life account, posted a video in October 2021 showing how he made money transporting and recycling cardboard.
By contacting recycling centers in his area, Travis found that cardboard is “pretty valuable.”
He said that loose cardboard can be sold for $125 to $140 a ton, while pressed cardboard costs $170 to $180 a ton.
As he explained, cardboard was baled and bundled into ‘bales’, while loose boxes contain all other unbaled materials.
Travis had an existing recycling and garbage disposal business, and he used the connections he made to start collecting cardboard.
His plan was to sell the material to fund other parts of his business.
He filmed himself collecting about three tons of cardboard from a customer before heading to a recycling center.
To haul the bales around, Travis attached a cargo cart to the back of his pickup truck.
It took 30 minutes to load, and Travis said the entire process took about two hours before the box was weighed and paid for.
The recycling center he used offered $180 per ton of cardboard bales, so Travis made $560.70 for his transportation.
After accounting for expenses, Travis said he made around $500.
For anyone trying to collect cardboard, Travis recommended calling local businesses and offering to pick up and dispose of their cardboard on a designated day of the week.
He also suggested offering to the companies to share the profits from recycling the cardboard.
Cardboard recycling, however, may not remain as profitable for long.
The average price of cardboard has skyrocketed in recent years, from around $50 a ton in 2020 to over $140, according to Federal Reserve data.
The tax implications of a part-time job
Regardless of whether you have a part-time job alongside a full-time job or combine several part-time jobs, your income is taxable.
Not only that, you must report your earnings from a part-time job or freelance work differently than your regular income.
A 1040 form is required for those with multiple sources of income because you must list all of your income on a single form.
In addition, you must file an Schedule C and Form SE to report your self-employment taxes.
If you have multiple sources of income, speaking to a tax professional can help you figure out which forms to submit and how to fill them out correctly.
The extra income can also move your household into a different tax bracket, affecting how much you have to pay to the IRS.
However, if you work part-time, you can claim more tax exemptions because you can report your expenses for potential tax deductions.
However, you must have proof of the money you spent on your side hustle, so keep any relevant receipts for tax season.
The Sun has compiled a list of the 10 best money-making side hustles for 2022.
Plus tips on how to make money selling on Amazon.
I made $560 from recycling in just two hours — and you can do that over the weekend