![]() ![]() These numbers assume you are the only income filing in your household. It gives you roughly a $40,000.00 income on that $60,000 profit, which is only around $3,300.00 take home pay. That is almost $20,000 in taxes doing the simple math on a $60,000.00 profit for a self employed person. ![]() Self-Employment Tax Approximately $9,200.00 (SS/Med at a flat 15.3%) If you take home $60,000 each year in profit, you need to plan for roughly these amounts in taxes:įederal Income tax: approximately $8300.00 (around $13,000 of the $60,000 will fall into the 22% tax bracket, with the other profit in the lower tax brackets)Ĭalifornia income tax: approximately $2,400.00 (around $1,800.00 taxed at the 8% rate, and the rest taxed at the lower rates.) As a self employed person, you pay both the employee SS/med and the employer amount, which means the government gets a flat 15.3% of every dollar you make after expenses, in addition to any income tax you are liable for. California has some of the highest state income taxes in the nation. You are self employed, so you are responsible for taxes, not just federal taxes, but also social security, Medicare, and your state tax. If you are trying to take home $5000.00/month after profit to reach a specific budget, you need much more than $5000.00 in sales.įor a profit goal of $5000.00/month after expenses (supplies, insurance, shipping) you need sales far in excess of your $5000.00/month profit goal. And since AI started every person who can has started selling AI art here. As print on demand was already very popular. Not impossible, but more difficult than most. It would be an uphill battle in a blizzard during an earthquake trying to get regular income. Given what you're selling looks AI and with a production partner. The youtubers either never were successful, or only were for a short time and couldn't keep it up so now they make their money with videos. They are likely busy managing their shops or don't want to draw attention to themselves. It is not normal, takes a lot of work, and can change at any moment. There are sellers that sell that much every month. So of course gross is never profit and as income grows so does expenses. At my peak I had 4 employees (for etsy and amazon). But even this year has had ups and downs. I went back to work on my etsy shop and sales have been growing here. That is until last year it started slowing. Thankfully I also sold at amazon and it picked up the slack for many years. Then something changed and it fell off a cliff. For my own personal designing, I've always been able to create anything I needed in SCAL.My etsy shop made that back in the day for a while. I just can't justify the monthly subscription cost when I would only need it one or twice a month to answer a question for a customer. ![]() Will you pay my monthly subscription for AI? I tried to find an old version on CD/DVD JUST for the purpose of supporting KNK customers who have been using it for years for designing and now use SCAL for cutting. I do decals,banners,shirts and vehicle designs non printed. Dwayne I could easily teach you really quick of what i know. If you have any questions etc send me a email to. The 2 programs work so much better than Inkscape. Have you tried Ai software? I use it all the time now with scalps4pro and now i have upgraded to scalps5pro. Are you going to create a new plugin/extension file for Inkscape that will work with SCAL5? I hope so.love how well they compliment each other. I have been using Inkscape and SCAL4 harmoniously for well over a year. Lynnh3 wrote:Glad to see the new version. ![]()
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