Earning money while you sleep is possible, but did you know you can also avoid taxes while you sleep Increase your passive income streams?
A quarter of $2,000? Check your pockets before using this 2004 coin
Read more: 18 legit games and apps that pay real money in 2023
There are several ways to protect your income from taxes, but many types of passive income require you to pay business income taxes, or tax, on all of your earnings.
So, instead of building income streams only to pay more taxes, you can create passive income that doesn’t require you to pay anything. Nor should these strategies require a lot of extra time on your part, which makes them the perfect way to invest!
Here are eight tried-and-true, tax-free passive income strategies:
Social Media Marketing Manager
average income: 133,380 dollars
Companies currently hiring for this role: Nintendo of America, Publix, Value Village
Social media managers handle everything from company social media accounts, advertising to copywriting, and more. If you work for a large company, you might be managing a social media team to handle the company’s marketing needs.
Social media managers can easily earn over $100,000 per year because they are closer to a marketing specialist, and the average salary is currently over $130,000 for marketing managers. Best of all, you don’t need a degree to qualify, and you can use previous client success as your portfolio to apply to a new position.
There are many large companies hiring social media manager positions, such as Nintendo of America, Publix, and Value Village.
average income: $127,150
Companies currently hiring for this role: Spotify, Tik Tok, Discord
Advertising is a huge industry, and companies are competing for your attention and business. This makes advertising managers a highly sought-after position with an average salary of over $100,000 per year. The best part is that you don’t need a 4-year degree for this job!
Advertising managers handle a company’s ad spend and manage the marketing team that designs ad creative, copy, and landing pages for marketing campaigns. The average wage is about $127,000 per year, and there are many large companies that may pay more, depending on your experience.
There are some big companies looking for ad managers, like Spotify, TikTok, and Discord.
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Inside Sales Manager
average income: 127,490 dollars
Companies currently hiring for this role: United Airlines, CorpNet, Strategic Financial Solutions
Inside sales teams are the ones that pick up the phone and cold call companies on a daily basis. These teams have strict metrics they must meet, and sales quotas they must hit on a weekly, monthly, and quarterly basis. Inside sales managers keep these teams on task and report to the line managers on the team’s performance.
Inside sales managers can easily earn over $100,000, with many making over $150,000 a year. You don’t need a degree to become an inside sales manager, but you do need experience and some previous sales results to qualify.
There are some major companies looking for advertising managers, such as United Airlines, CorpNet, and Strategic Financial Solutions.
average income: 109,020 dollars
Companies currently hiring for this role: Home Depot, Warner Bros., IBM, Costco
Software developers seem to run the world at this point, and you no longer need to have a college degree to build the skills needed for a remote developer job. With online certifications and even free online coding tools available, you just need to build a solid skill set in a popular development language to land a six-figure job.
Software developers do everything from coding websites to building mobile apps and building internal company tools. The average salary is over $100,000 per year, and many companies will pay over $200,000 for an experienced developer.
Almost all medium and large companies in the United States are hiring a software developer, including giants such as Home Depot, Warner Brothers, IBM, and Costco.
average income: 159,010 dollars
Companies currently hiring for this roleSourced Craft Cocktails, Propelled Technologies, Calista Corporation
Information technology is the backbone of large companies and managing a team of IT professionals can pay big bucks. In addition, you typically don’t need a degree for this position (just experience), and many remote jobs are available.
IT managers deal with teams that support intranets, computer security, unified communications, and more. Average salaries are over $150,000 per year.
Some companies looking for an IT manager are Sourced Craft Cocktails, Driven Technologies, and Calista Corporation.
Standalone video editor
average income: $105,000+
Companies currently hiring for this role: Stackler, Confectionery, Imagine
Video is huge, and companies are pouring more resources into creating high-quality videos for advertising and promotional content. A freelance video editor is an in-demand position for companies that value video but don’t want a full-time job just yet.
Many freelance video editors charge up to $80 an hour, and even just getting a few clients to fill in 30 hours a week can bring you over $100,000 a year!
Some companies looking for freelance video editors (they pay well) are Stacklr, Confetti, and Emagine.
Financial project manager
average income: 101,880 dollars
Companies currently hiring for this role: Liberty Mutual, a16z, Home Depot
Project Managers handle the initiatives of the teams within the company to deliver results in a timely manner, and really act as a liaison between the different teams within the business unit. While some project manager positions favor a degree, many only need prior experience to qualify, and you can also earn Project Management Professional (PMP) certification to boost your salary.
Many project manager jobs are remote since most meetings can now be handled online, and online tracking tools help keep teams on top of tasks. Pay can range from $100,000 to over $150,000, depending on the position and your experience.
Some of the companies hiring for project manager positions are Liberty Mutual, a16z, and Home Depot.
Technology Sales Manager
average income: $161,920
Companies currently hiring for this role: Dexcom, Together Credit Union, Stryker
Tech sales is a big industry, and the sales teams are the lifeblood of the company, bringing in revenue and handling big deals. Sales managers keep teams focused on sales quotas and meeting the company’s quarterly revenue goals. There is usually no degree required for this position, but you do need a bit of sales and management experience to qualify.
Technology sales managers earn over $150,000 annually, and many can earn over $200,000 for larger companies with larger sales teams.
Some companies looking for technology sales managers include Dexcom, Together Credit Union, and Stryker.
While earning a 4-year degree can be a great path to building a well-paying career, there are now many jobs that are more concerned with your past results and experience than your college education. Since most companies offer some kind of telecommuting option, you can now earn six figures from the comfort of your own home.
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This article originally appeared GOBankingRates.com: The 8 Highest-Paying 4-Year Remote Jobs That Don’t Need Degrees