Any Approximation For Income Earned AFTER Taxes? New

[TheGoodLife]

I am currently a teacher in NE but plan to start a home daycare next year. I was wondering if anyone can give me an approximation as to the % of what they charge that they actually keep after taxes (I know everyone's situation is different, and other income is a huge variation, but I just want to try to estimate. We have 3 of our own babies, my husband earns ~50,000, and I will have about 25% of our home for exclusive daycare space and 50% for family and business purposes) Again, I just want to know about what % of wages you keep. I have been thinking 50% since we have 30% self-employment tax, but that is just a guess. Thanks in advance!

[Blackcat31]

I can't speak for others, but I personally think 50% is on the high side if your talking percentage as profit.

[Unregistered]

I am not clear on what you are asking??

[itlw8]

there are so many things that can go into it. The best way is to do a business plan. Will you be licensed? Will you go on the food program. What will you need to invest to get started.

If you are paying childcare now start there. How much will you need to make to come out ahead of what you make now after paying childcare.

If you have an exclusive use room that really makes a big savings but remember you and your children can never use the room when it is not business hours. That is a hard thing to keep children out of a room the toys are in.

and yes you can make 50% profit You should be able to make more than that.

One important thing is leave yourself wiggle room. You can not count on being full . So figure the budget on 60% capacity.