Adam@Home by Rob Harrell for January 05, 2015
January 04, 2015
January 06, 2015
Transcript:
Adam: That was great. Laura: I love spending time along with you, baby. Adam: Did you pay the babysitter? Laura: Yes. $25. Adam: $25 for three hours. Laura: What? That's $8 an hour. the market rate. Adam: $8 an hour in cash is like $13 an hour to you and me. Laura: Maybe I should start to charge you for baby-sitting.
Wow, self employed people understand that employers, in addition to paying the hourly wage, must pay employment tax, SS, medicare, workers comp, etc. If anything Adam is a little low in his estimate.
And that leaves out the benefit to the sitter of not paying Federal, State, sometimes municipal income taxes as well as SS, etc.