This is actually pretty common and has gone on for a long time, especially on systems that were striving to be low-to-zero downtime.
Some of the idle processing on AS/400s would periodically re-write the microcode from disk. When I asked a core developer why, they cited gamma rays flipping a bit. I then asked if a lead umbrella wouldn't do the job better, and they said yes, but the umbrella would have to be about six feet thick.
If you are a sole proprietor or LLC, you can sock away 25% of your after-employment taxes (FICA, Medicare), and you only hit a cap if you're making over $200K/yr
If you have an S-Corp, the Corp can put 25% of your salary, pre-tax into the SEP. So you take whatever amount you billed this year, divide by 5. 4 parts become salary, the 5th part becomes your IRA contribution. It adds up fast. Then again, having the discipline to save 20% of your income adds up fast no matter what you do with it.
I can only speak from my personal experience, but I have no idea where the 60% figure was sourced. I live in NYC and it's more like 40%, and income tax rates follow the same graduated scale that a regular employee would have.
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This is actually pretty common and has gone on for a long time, especially on systems that were striving to be low-to-zero downtime.
Some of the idle processing on AS/400s would periodically re-write the microcode from disk. When I asked a core developer why, they cited gamma rays flipping a bit. I then asked if a lead umbrella wouldn't do the job better, and they said yes, but the umbrella would have to be about six feet thick.
...I'm not sure its creator would want to admit to it in public.
A SEP is indeed better.
If you are a sole proprietor or LLC, you can sock away 25% of your after-employment taxes (FICA, Medicare), and you only hit a cap if you're making over $200K/yr
If you have an S-Corp, the Corp can put 25% of your salary, pre-tax into the SEP. So you take whatever amount you billed this year, divide by 5. 4 parts become salary, the 5th part becomes your IRA contribution. It adds up fast. Then again, having the discipline to save 20% of your income adds up fast no matter what you do with it.
I can only speak from my personal experience, but I have no idea where the 60% figure was sourced. I live in NYC and it's more like 40%, and income tax rates follow the same graduated scale that a regular employee would have.
...all of my ^H^H^H jokes will be funny again.
Sorry, didn't log in. The bum-rush comment is mine.
Perhaps her mother needed to try less subtle hints with you.