$60/hr * 2000 hr = $120K /year
After fed and state tax.
$120 * 0.6 = $72K
Put sep IRA $30K
you have $42K
apartment rental:
1.5K/mon * 12 = 18K
You will have $24K for your spending.
You will be OK.
• Health Insurance? 40% tax rate? -duck_donald- ♂ (0 bytes) () 07/08/2009 postreply 16:37:56
• fed + state. since he is a contractor, he might pay -任我為- ♂ (36 bytes) () 07/08/2009 postreply 16:43:07
• 30K in IRA,太過分了吧!想做老不死啊? -淘沙浪- ♀ (0 bytes) () 07/08/2009 postreply 16:38:29
• self-employed can put more? -duck_donald- ♂ (0 bytes) () 07/08/2009 postreply 16:39:26
• contractor --> self employed. it helps reduce tax. -任我為- ♂ (0 bytes) () 07/08/2009 postreply 16:41:10
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