The average business owner makes around 60k a year.

[MR. SNIFLES]

THE ILLUSION OF FREEDOM AS A BUSINESS OWNER IS THE ROUGHEST THING TO DEAL WITH. THE SALARY COMES SECOND.

 

[ViShawn]

@Jekyll we have written off 60k worth of expenses/operating costs so she essentially doesn't owe any taxes as there is no income after expenses. Also llcs are pass thru so there is no separate corporate tax or anything breh.

This is pretty simple stuff.

What are you doing for health insurance?

 

[Wildhundreds]

THE ILLUSION OF FREEDOM AS A BUSINESS OWNER IS THE ROUGHEST THING TO DEAL WITH. THE SALARY COMES SECOND.

Depends on the business you run. Some business owners actually have freedom.

 

[datnigDASTARDLY]

"B-but mah LLC!!!"

 

[Diondon]

Mufukkas should at least take a business class first
but nowadays everything is for IG

 

[Jekyll]

@Jekyll we have written off 60k worth of expenses/operating costs so she essentially doesn't owe any taxes as there is no income after expenses. Also llcs are pass thru so there is no separate corporate tax or anything breh.

This is pretty simple stuff.

Lol even if you pay no tax at all you’re still short. 120k after taxes in Cali is still like 80k, higher elsewhere. Hence why I said you needed a return of 20k.

 

[Ezekiel 25:17]

Bro, I know what a $120k paycheck looks like and I was pulling that in the late 2000s. You're not going to stack multiple rental units in 2 years with that income.

You're better off investing in stocks with whatever you can to raise capital.

Depends on where you live. That's $6500/month after taxes. Keep your debt low, your living expenses low. Shouldn't be hard to have $3k leftover. And we not talking about another spouse. Just you being single with no kids.

I imagine a decent 5 unit building in a decent area is something like $400k. So put down about $80k. But this is all figuratively speaking.

 

[Nigerianwonder]

@Nigerianwonder breh I'm talking for real life experience with my wifes business. She DOES NOT work anywhere near a 9 to 5, has insurance thru me and if u own ur own thing u have unlimited sick days and vacation days? Lol

Glad ur comfy in ur work tho breh.

You proved my point. You are subsidizing your wife and her business so she can pretend to be a boss. That's great but that's not running a real self sustainable business. Your wife has a hobby not a business and you prove thay by how you talk about it. Aint no such thing as sick and vacation days when you work for yourself.

And I'm cert gang and remote. I csn travel anywhere anytime and do what i want. I've had businesses too and mine had actual employees. I don't work hard I work smart and neither me or anyone on my team ever work over 40 hours a week. So yeah I'm real comfy breh. Cant even lie.

 

[bourgeoisie tall freak]

LLC or 9-5....why not do both

 

[NZA]

a whole lot of freelance workers calling themselves business owners

 

[HabitualChiller]

I'll take the 9-5.

 

[bourgeoisie tall freak]

LLC or 9-5....why not do both

While we are here, comcast is giving grants and other tech/media support to small businesses under their RISE program for POC and women owned businesses. Deadline is approaching!

 

[Kyle C. Barker]

Depends on where you live. That's $6500/month after taxes. Keep your debt low, your living expenses low. Shouldn't be hard to have $3k leftover. And we not talking about another spouse. Just you being single with no kids.

I imagine a decent 5 unit building in a decent area is something like $400k. So put down about $80k. But this is all figuratively speaking.

I can tell you went to salary calculator to plug those numbers in

I was not seeing $6500 a month at $120k, I was seeing about $5600/month after taxes, 401k , and benefits. To save $3000 I'm going to have to live on $2600. Do you like having roommates?

*Insert bron troll face*

It was hard enough saving up for a home as a first time home buyer where I only had to put 10% down. If you are buying a multi door rental property the bank is going to expect you to bring 30% to the table

 

[sayyestothis]

@Nigerianwonder cool. I never stated anything other than 60k self employed is like 120k w2 wise with all the benefits. I see my income. Before I max social security and my 401k I net only 45% of my income breh...and if I was self employed doing the same thing...I'd be clearing much more.

 

[SleezyBigSlim]

Depends on the business you run. Some business owners actually have freedom.

The only freedom is not having a boss but then again your customers are really the boss and have the power to cancel your ass whenever they see fit in this cac ran society. You have to be politically correct and watch what you say on social media just like regular 9-5 brehs. Most business owners dont have the freedom you think they do.