Re: Rates

Subject: Re: Rates
From: "Gene Kim-Eng" <techwr -at- genek -dot- com>
To: "Bill Swallow" <techcommdood -at- gmail -dot- com>
Date: Tue, 26 Oct 2010 22:37:47 -0700

Yes, the OP left the company that was paying the $22/hr and now the company is
offering $22/hr 1099 for the side gig. With bennies coming from the new day
job, they're not an issue with this one, and I'm guessing that the work that
would be done at night is probably more like updating docs the OP made before
leaving rather than running new doc projects.

50% for taxes 1099 sounds like a safely conservative set-aside for fed and state
income tax plus SET added on top of another full time job. Some of it will end
up coming back at tax refund time, how much mostly dependent on how good a job
the OP does of identifying deductibles, but I'd rather have a refund coming at
tax time than have to write a check to the govt.

Gene Kim-Eng



----- Original Message -----
From: "Bill Swallow" <techcommdood -at- gmail -dot- com>
I just re-read the original post, which was quite cryptic. The OP is
talking about this as a side gig, which would add 13 hours (an odd
figure) per week. At $22, that's an extra $286/week before any taxes
augmenting a full week's worth of salary from another job (40, perhaps
more, hours per week). Thus the 53 hour remark.

I think the tax advisor is over-estimating with the 50% savings for
taxes, but it's good to be cautious and pad the reserve.

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References:
Rates: From: Anon TWer
RE: Rates: From: Chantel Brathwaite
Re: Rates: From: Richard Mateosian
Re: Rates: From: Gene Kim-Eng
Re: Rates: From: Bill Swallow

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