77000 a year isnt jack squat . After Business expenses and Federal and State taxes he would not have much left to live on. Anyone that is a contractor knows how little there is left over at the end of the year if you are only grossing a measly 70000. Wake up !! What about health care insurance, SEP ira contributions etc . etc. At the end of the year this guys adjusted gross was definitely under 30000, and that sucks. Barely enuf to live on. Worst part is that he probably worked 52 weeks a year with no vacation / time off, and probably worked a lot more than 40 hours a week. I have been contracting for a long time as a sub and now as a prime and it still amazes me when guys cant do basic business math . 77k / year gross would be okay if in addition to the 77k he also got paid vacation, paid sick days, health benefits, company matching retirement, clothing allowance etc etc etc . Anyone that thinks that 77K as a contractor is good is plain nuts. I know inhouse maintenace techs for MSO's that almost make that working only 40 hours a week will full benefits on top of that.
This is CABL.com posting #285961. Tiny Link: cabl.co/mbmyr