I’m pleased as punch when I read of people succeeding. Like this story of a developer who wrote an iPhone came that sold over $600,000 in one month. It includes this choice line:
"If it weren’t for taxes I would be a millionaire right now."
True. And I betcha he hadn’t actually done his taxes at that point to discover the nasty surprise…
Assuming he made a decent wage at Sun, his present employer, he entered at the top bracket.
Then lets him pay his and his employers (him) share of self-employment taxes:
Oh… heck, California wants a cut
The grand sum….
Sorry, you’re million is only 360,000 – at best (I probably missed a tax or two). And watch out… did you have a business license for your living room?
“We the people” were the real winners of your iPhone lottery. Thanks for slaving away for 8 hours after work with your baby on your arms.
Good luck brother. I’ve been there.