An oops for better results!

[danaeris]

Apparently, I wasn't taking into consideration
(1) the provincial "basic personal amount"
(2) the EI
(3) That the BPAs are going up in 2006 (I was calculating using the 2005 BPAs)

Having done that, unless I did my algebra wrong, my minimal survival salary ranges come out much more reasonably. I could squeak by on somewhere between:
$16,300 - $22,771

So, switching to only contract would be tight, but even if I got no other writing gigs I would be fine in the range of price I was planning on proposing.

Much thanks to freefloat for pointing this out!

EDIT As much as I might APPEAR to enjoy speculation, I've had enough. I keep on trying to poke my head into the CEO's office to chat about a doctor's appointment this month and to ask him if he's still open to seeing a contract proposal, but he's always on the phone. So I sent him a brief email, reminding him of our conversation and asking if he'd still be open to the idea. We'll see what he says.

Comments

[freefloat.livejournal.com]

Just a dumb-o thought occured to me:

You're not adding together the Basic Personal Exemptions, are you?

*ducks*

[danaeris.livejournal.com]

*laughs* nope.

Federal tax = (income - federal bpa) * 0.15
Ontario tax = (income - provincial bpa) * 0.0605
After tax income = income - federal tax - ontario tax - CPP contribution - EI contribution

Look right to you?

[freefloat.livejournal.com]

Something like that :)

For years I've done my own taxes - I only "give up" and hire H&R block when I have a weirdo scenario to deal with.

Gives a person a bit of an overview. Plus my particular job being what it is, doesn't hurt either ;)

I like your simple equations above though. That's really how it basically boils down.

[danaeris.livejournal.com]

I often have hired someone. I've had years where I had more than five different income sources, some of which were taxed and some of which had not yet been taxed.

When things are that complicated, it often makes sense to just hire someone.