[sdiy] Pitfalls of the synth 'small business'

[Tim Daugard]

----- Original Message -----
From: "karl dalen" <dalenkarl at yahoo.se>
To: "James Patchell" <patchell at cox.net>;
<synth-diy at dropmix.xs4all.nl>
Sent: Saturday, November 05, 2005 12:57 PM
Subject: SV: Re: [sdiy] Pitfalls of the synth 'small business'


> > Also...even though many of you may think that hey.....$50,000/yr
is a lot
> > of money...don't forget...a large portion of that will go to my
Uncle
> > Sam....30% in income taxes...and another huge chunk for "self
employment
> > taxes"....

Self Employment tax is 14.x %. Part of the reason I retired from
real eastate was overhead and taxes. Overhead was about 25%. Then
the tax on the remaining 75% was about 40 to 45% That meant I got to
keep about 30% ot the money I earned. By the time you got 30% of 25%
of 6% of a $100,000 it's not much. So you had to sell the more
expensive houses, which means more overhead, and maybe negotiate a
smaller commision to get the deal.

All business is tough, do what you enjoy as life is too short other
wise.

Tim Daugard
AG4GZ 30.4078N 86.6227W Alt: 12 feet above MSL
http://home.sprintmail.com/~daugard/synth.htm
Any one want to pay me to sail arond the world? Or to carry syth
parts to Europe from the US on a small sailboat?