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You have to make about $422,000/year to be in the 1% of income earners in the USA. https://twitter.com/Whatapityonyou/status/1314959240302260230
Spoiler: If there are 328 million Americans, that means there are approximately 3.3 million Americans that make this much money every year.
That's what 1% means!
That's what 1% means!
Also: If you're an artist, you should probably raise your rates.
I should write a blog post about this sometime, but basically:
Benchmark how long it takes you to complete a piece of work, and never charge less than $24 an hour. https://www.commondreams.org/views/2020/01/21/if-worker-pay-had-kept-pace-productivity-gains-1968-todays-minimum-wage-would-be-24
Benchmark how long it takes you to complete a piece of work, and never charge less than $24 an hour. https://www.commondreams.org/views/2020/01/21/if-worker-pay-had-kept-pace-productivity-gains-1968-todays-minimum-wage-would-be-24
Also remember, you're self-employed as an artist so your tax burden is higher.
How much higher? You should roughly double your rate and keep half of it in a separate account for paying taxes (which are owed quarterly, not annually).
How much higher? You should roughly double your rate and keep half of it in a separate account for paying taxes (which are owed quarterly, not annually).
If you're still with me, that sketch you spent two hours on last week should have cost a minimum of $96 (of which you set $48 aside for taxes).
"Wow $96 is a lot of money" says the part time minimum wage worker.
Yes, and you don't *need* the art, do you?
Also, you should be asking for a minimum $24/hour too.
Yes, and you don't *need* the art, do you?
Also, you should be asking for a minimum $24/hour too.
