geedavey

Are you charging enough to cover taxes? (DON'T SKIP PAYING TAXES!!) $20 is very little, after taxes.

As far as taxes go you have nothing to worry about yet, you have to start paying estimated taxes every quarter and you have to report your income by next April. If you miss a few quarters with your income that low you probably won't have a problem.

However, you need to start setting aside 35 to 40% of the money you make right now in a separate account, so you have it when you needed to pay taxes.

You don't have to keep slavish track of miles, you can probably take a standard deduction with your low income. But miles are definitely a place to reduce your taxable income.

The cost of your website, the cost of any professional and tax advice you get, all are deductible from your income.

You're off to a great start, you just need to charge what you're worth. And you are worth about $60 to $80 an hour, minimum. That's what it will take to keep you afloat.

On the bright side, as a low-income small business owner, there are lots of perks that can come your way including low cost health insurance and tax-deferred retirement plans.

Keogh plans allow you to shelter your income from taxes as long as you plan on spending it in your retirement years. That sounds like something you don't want to worry about now, but trust me, the sooner you start putting money in a tax-deferred retirement plan, the faster and bigger it will grow thanks to compounding interest.

Set it up now, start small, make a habit of investing in it, and then let it grow as you do. Good luck!

How did you measure the temperature inside the caves?

My black friend reads black romance/erotica, which I didn't realize was a genre until I checked it out. It's pretty hot stuff.

Even a drop off in bookings can be a good thing, because that means you're getting more money for less of your time. When you do rebuild your clientele at the new rate, you'll have a much larger income.