For several years, I guess between about 2014-2018, I would accept two to three contracts a year for IT work under my one-man corporation. Small contracts - 40-80 hours each billing out around $70/hour with provisions for additional hours if needed (at higher rates). I did that to build up my personal savings while paying off my better half's student loan and credit debt.
I stopped doing this years ago though. Firstly I no longer had a need for the additional revenue stream since I was being paid so much for my day job. Second is I live in area overly saturated with IT contracting companies so the competition became too fierce. My options were finally killed by the pandemic, when like 99% of workers like me moved to fully work from home so competition for individual contracts went from like fix or six candidates to literally dozens.