Make sure you save plenty for taxes

When you get a monthly check from either Yahoo or AdSense save at least 30% of every dollar.........

I was pretty shocked to see how bad the taxes are..... on lesss then 9k (9 thousand) dollars earned the taxes due are roughly $1,900.... just for federal, and then state taxes were $298 and local another $98.

The tax woman said that we are taxed roughly 34% of every dollar earned as extra income, at least here in pennsylvania.

 

Yeah, mine were terrible too. That's what happens when you're "self employed"
Next year see if you can get a write-off for your internet bill.

 

mine were high also...I am getting a refund from state but paying fed 1.5 times the refund I am getting...oh well...screw those that attempt to make it on their own, give to the big businesses....all the more reason I am in favor of the fairtax.

 

Are any of you also deducting any courses you've taken to improve your business? I've also found that taxes are relatively high for the self-employed. I've been considering incorporating. Has anyone done that yet?

 

You can pay also in advance each quarter an $ amount. That takes the load a bit off the end of the year.

Timo