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Source: calebporzio.com
Making $100k As An Employee Versus Being Self-Employed
I love it and want to encourage others to go for it, but first, I need to answer a question as fully and completely as I possibly can: Is it worth it? If you make $100k as an employee, how much do you need to make as a freelancer?
As an employee, the MOST you can contribute to your 401(k) is $19k + any amount your employer matches.
As a self-employed person, you can deduct your expenses for your business and reduce your taxable income (therefore increasing your take home pay).
Honestly the best thing you can possibly do for yourself is doing your own taxes as an experiment.
As an employee, the MOST you can contribute to your 401(k) is $19k + any amount your employer matches.
As a self-employed person, you can deduct your expenses for your business and reduce your taxable income (therefore increasing your take home pay).
Honestly the best thing you can possibly do for yourself is doing your own taxes as an experiment.
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