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Non-traditional, non "9-to-5" ways of earning a living.

Discussion in 'Business, Careers & Education' started by bob99, Mar 28, 2011.

  1. passingtime

    passingtime Senior member

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    This thread has managed to not be on topic at all.

    Why? Running your own business is or freelancing is not a normal 9-5 way of earning a living. Anyway few threads are still on topic by the third page. [​IMG]
     
  2. RSS

    RSS Senior member

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    I had to go out early a few days ago ... and it was rush hour. I'd forgotten all about that. I feel sorry for people who work 9-5 (or any type "shift" work) for others.
     
  3. jrd617

    jrd617 Senior member

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    Paying for benefits is a bitch.
    From my limited experience, this is incorrect. I'm pretty sure that small business owners can inexpensively replace benefits if they know where to look. There are even some benefits that employers can't offer
    -Health Savings Accounts (HSAs) are basically triple-tax free -You can secure life insurance and disability insurance at a lower rate (trade associations, etc) than through an employer -The IRS allows you to deduct half of your Social Security tax on Form 1040 -SEP-IRA's and Keogh's allow sheltering of far more money than corporate retirement plans (20% of net income is tax deductible)​
    And wait until you get your tax bill. Self-employment tax sucks.
    Self employment tax in the US is 15.3%, right? (Pays for OASDI and Medicare) When you work for someone, your employer pays half of it. As a small business owner, I'm pretty sure one would have to pay both halves, but that one could deduct half on the Form 1040. Depending on your tax bracket and your state tax deductions, you could end up paying less than you would if you weren't self employed. Again, I'm not an accountant. Just dabbled in small business administration guide books. Someone correct me if I'm wrong.
     
  4. RSS

    RSS Senior member

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    Self employment tax in the US is 15.3%, right? (Pays for OASDI and Medicare) When you work for someone, your employer pays half of it. As a small business owner, I'm pretty sure one would have to pay both halves, but that one could deduct half on the Form 1040. Depending on your tax bracket and your state tax deductions, you could end up paying less than you would if you weren't self employed. Again, I'm not an accountant. Just dabbled in small business administration guide books. Someone correct me if I'm wrong.
    If self employed ... you do indeed pay both "halves." And yes, you are allowed to deduct 50% ... but that's a deduction ... not a write off.
     
  5. Dakota rube

    Dakota rube Senior member

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    If self employed ... you do indeed pay both "halves." And yes, you are allowed to deduct 50% ... but that's a deduction ... not a write off.

    Thank you.
    Your post saved me from going on a little bit of a rant.
     
  6. jrd617

    jrd617 Senior member

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    Thank you.
    Your post saved me from going on a little bit of a rant.


    Okay, I get that it's a deduction, but couldn't the other tax-free perks that small business enjoy help to offset the post-deduction cost of the "second half" of the self-employment tax?
     
  7. Dakota rube

    Dakota rube Senior member

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    ^It's a lot of money taken right off the top.
     
  8. reactmma

    reactmma Well-Known Member

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    Here's the thing, for 99% of people who strike out on their own, they will be doing exactly the same thing as when they were employed. It's mostly not some magically different type of work.

    Yes, you can make more money. But you can also lose a lot. You keep your own hours, but you have no control over the ebb and flow of clients and revenue. Defenitely less security. Paying for benefits is a bitch.



    nice way to put it!
     
  9. replicawatchesuks

    replicawatchesuks New Member

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    What are some of the non-office ways members on this forum make a buck? It seems like there are much more interesting ways of making a living than just "working for the man."
     
  10. Eponym

    Eponym Well-Known Member

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    What are some of the non-office ways members on this forum make a buck? It seems like there are much more interesting ways of making a living than just "working for the man."

    You could make replica watches. Seems interesting enough.
     
  11. L.R.

    L.R. Senior member

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    I've chosen a career as a spam bot. It's not great, but in my free time I've developed something that can pass for sentience in DT or CE.
     
  12. CJones

    CJones Well-Known Member

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    Rock 'n' Roll.
     
  13. Nouveau Pauvre

    Nouveau Pauvre Senior member

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    I'm thinking about getting back in to gig performances. Would need to move to a more economically viable area though if I get serious. The people in my performance niche who are actually successful is a) a tiny number of people b) people who have strong passive revenue streams, especially from within the industry (trade publications, selling scripts and coaching) and perhaps most discouragingly c) people who have done very well in other careers first or concurrently.
     
  14. CJones

    CJones Well-Known Member

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    I'm thinking about getting back in to gig performances. Would need to move to a more economically viable area though if I get serious. The people in my performance niche who are actually successful is a) a tiny number of people b) people who have strong passive revenue streams, especially from within the industry (trade publications, selling scripts and coaching) and perhaps most discouragingly c) people who have done very well in other careers first or concurrently.
    What niche is that?
     
  15. Texasmade

    Texasmade Senior member

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    What are some of the non-office ways members on this forum make a buck? It seems like there are much more interesting ways of making a living than just "working for the man."

    I don't do these things but I saw or read about them and they seemed interesting: wild boar hunter or armed security force to fight off pirates for large vessel container ships. Both jobs are dangerous but sound way more exciting than "working for the man".
     
  16. bob99

    bob99 Senior member

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    Hey Magician, I assume you're an actual magician? I used to be quite into magic and did a few paid gigs as an accomplished amateur (never really gave any serious thought about turning it into a career.) What type of stuff do you perform?

    I was a big fan of Darwin Ortiz back in the day, I loved his books & effects.

    Definitely not 9 to 5!
     
  17. patrickBOOTH

    patrickBOOTH Senior member Dubiously Honored

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    I have a really good 7:30 to 6 gig.
     
  18. HgaleK

    HgaleK Senior member

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    What niche is that?

    Industrial indy.
     
  19. thekunk07

    thekunk07 Senior member

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    this is why I sold.

    Here's the thing, for 99% of people who strike out on their own, they will be doing exactly the same thing as when they were employed. It's mostly not some magically different type of work.

    Yes, you can make more money. But you can also lose a lot. You keep your own hours, but you have no control over the ebb and flow of clients and revenue. Defenitely less security. Paying for benefits is a bitch.
     
  20. Nouveau Pauvre

    Nouveau Pauvre Senior member

    Messages:
    7,563
    Joined:
    May 21, 2008
    Location:
    East Coast
    Hey Magician, I assume you're an actual magician? I used to be quite into magic and did a few paid gigs as an accomplished amateur (never really gave any serious thought about turning it into a career.) What type of stuff do you perform? I was a big fan of Darwin Ortiz back in the day, I loved his books & effects. Definitely not 9 to 5!
    Yeah, used to be full-time though it was more mentalism/hypnosis towards the end. Now I'm doing the smart thing(?) and back in school. I met Darwin through my mentorship with Alain Nu and even got to do some gigs with him in DC, Quite a talent. I cherish my personalized copy of Strong Magic (which incidentally was a gift from Richard Kaufman - my time performing in DC was good to me)
     

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