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Hit $50k in gross freelance income last month and it felt weirdly empty
Honestly, I hit $50k in gross income from my freelance work last month. I thought I'd feel like I made it, but after taxes, software subscriptions, and my coworking space fee, I was left with about $32k. That $18k gap hit me harder than I expected. It made me realize I've been ignoring how much I'm spending on tools like Adobe and project management apps. Does anyone else track their net instead of gross, or am I just late to the game on this?
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the_rose17d agoMost Upvoted
Wait, you lost 18 grand to overhead? That's insane. I mean I knew taxes take a chunk but software and a desk space costing that much? I'd be sick. I track net because I have to, not because I want to face reality. Seeing the real number after everything is pulled out makes me want to cry every single time. You're definitely not late to the game, most of us just pretend the gross is real until we do the math. It's a brutal wake up call when you realize you're basically renting your tools and office.
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margaretc4217d ago
$18k sounds like a lot until you realize half of that is just Uncle Sam's cut, not really overhead. Be grateful you've got a handle on it now instead of after another year of ignoring the numbers like @anthony_jackson31 probably does with his credit card statements. Your mileage may vary, but I've found tracking net from day one saves me from the annual shock of realizing I'm not as rich as my gross income suggests.
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