Originally Posted by Greensmith33547
That all helps a lot. I guess what I'm asking is say in a perfect world I worked 10 months how much would I charge total to the customer for the hour to net say 80k a year? I'm not super business tax savvy but I'm trying to learn all I can! You have been very generous with your help!
Net is after taxes and expenses.
You add estimated taxes with likely is closer to 30%
You have to pay Self Employment taxes and FICA before you even consider income taxes
so to keep it simple 80K x 1.30 (30%) = $104,000
/10 month = 10400 / 160 hour = 65.00 hr plus your equipment cost
You do need to learn accounting, even if it takes you 3 years to get it.
I strongly suggest quickbooks or someother account program and find a pro-advisor that is willing to do books and teach you the ropes. Take classes anything. Otherwise you are doomed.