Thank God I don't have any expenses to pay out of my salary. The horror!
she has to have supplies and such there for the children, which I imagine are fairly substantial. I assume she does get to write some of those expenses off on her tax liability.
she has to have supplies and such there for the children, which I imagine are fairly substantial. I assume she does get to write some of those expenses off on her tax liability.
My hourly wage is very high, but I have no benefits, no guaranteed salary, and have to deal with self-employment taxes. Plus I only get paid when my clients pay my firm, so I run the risk of getting screwed if a client stiffs us. And I only work 15-25 hours a week and probably couldn't get 40+ hours a week of work if I wanted to. The money is still quite good, but obviously not what it would be if I were making the same hourly rate at a full-time job with benefits.
My hourly wage is very high, but I have no benefits, no guaranteed salary, and have to deal with self-employment taxes. Plus I only get paid when my clients pay my firm, so I run the risk of getting screwed if a client stiffs us. And I only work 15-25 hours a week and probably couldn't get 40+ hours a week of work if I wanted to. The money is still quite good, but obviously not what it would be if I were making the same hourly rate at a full-time job with benefits.
I'm in this boat, too. My hourly rate looks great but it's as an independent contractor rate and I'm lucky if my clients and companies I contract with pay me on time. And a lot of that hourly rate covers business expenses for my car, clearances, continuing education, therapy materials, payroll, data plan phone, ugh. No benefits. No paid time off. And it's hard to have a guaranteed number of hours per week, so it's very feast or famine. Plus I easily drive 3 hrs a day and that's not "billable" time... Both my parents are self-employed so I knew what I was getting myself into at least!