Thread: Profit
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Old 12-30-2012, 09:57 PM
Duekster Duekster is offline
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Join Date: Jan 2007
Location: DFW, TX
Posts: 7,969
Originally Posted by Greensmith33547 View Post
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.
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