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Income September 2018

My total September income was $10,223 which mostly came from Just Answer. I like working for JA because I don’t have to use my medical license and act more as a clinical consultant. The work has been easy and the income, pretty fucking nice.

 

September 2018 Income

All of the $10,223 income is pre-tax money, 1099 income. Many of my colleagues prefer W2 income because it’s more streamlined but I get to save a lot on taxes with a 1099, so I prefer it.

Just Answer Income – $7,098

I ended up earning a total of $7,098 in September with about 1 hour of work per day. I had already hit $5k but September 20th but wanted to see how much I could earn – not bad.

The volumes are very high on JA and I’m seeing a lot more international customers who are looking to get opinions from US physicians.

The work is easy. 90% of my answers come from what I already know. The other 10% is spent on UpToDate and Google.

The payment is calculated automatically so I know there are no errors in the tabulations. By the 1st of the following month my earnings are deposited into my PayPal account.

Roman Telemedicine Income – $2,895

Though I no longer work for Roman, I still had a few customers I had seen in September for which I got paid. This came out to $2,895 which is also pre-tax income.

This is probably just 10 days of work. As I’ve mentioned, the income potential on Roman is absurdly high and the work is really easy.

Clarity Consulting – $75

I thought I was going to kill it with my clarity.fm consulting but only made $75 for all of September.

I figure I need to market this a little better. I suspect the demand is there but time will tell. The few times that I have done it, it’s been a pleasant experience.

Digital Products – $76

I’m excited about this. I earned $76 from selling my own digital products on this blog. I have 4 items available and will add more to it in the future.

I don’t think I will need to market it too much. I’m happy with even a couple of sales per month. Any more and it might become a customer service headache.

DialCare Telemedicine – $35

Well, it’s not a lot but all of my income sources have started out super small and ballooned later. I earned $35 for the onboarding session with DialCare. I recommend them because they are okay with their doctors working from another country. Huge plus.

The first time I worked on Just Answer I probably made only $200 – now I make $5k-7k every month. So, DialCare has potential.

 

Taxes

The income is 1099 income which means that I can write off most of my expenses against this income. The list would include:

  • food
  • cell phone
  • coffee shop
  • travel
  • laptop
  • home internet
  • tax preparation software
  • legal consulting
  • legal fees for medical board investigation
  • health insurance premium
  • research

I do my own taxes and I am comfortable with the annual IRS audits which I have received since 2012. It might seem like a headache for some but it saves me a lot of money.

Speaking of audits, I haven’t gotten an audit letter in like 6 months. They must be slammed.

The audits happen because I write off so much against my income. But once the audit is completed, I almost always come out ahead. As long as what I am doing is legal, there isn’t much for me to worry about.

The IRS reps are incredibly professional and very easy to work with. So far, it has never been an unpleasant experience.

 

Location Independent Income

Probably the most important thing to me about this income is that it’s 100% location independent income. I earned all of this money while working in Spain.

Having location independent income means that I can live anywhere I like, while earning my income from the highest paying country, the US.

It has taken me about 3 years to figure out how to do it but it has been effective in practice.

2 replies on “Income September 2018”

I am intrigued you have been audited and they are ok with deductions like coffee shop, food, and travel. I’m not sure how you can link those things to work with the work you do (though you have not given specifics, so they surely could be linked). But sitting in a coffee shop and doing Just Answer…I don’t think you can deduct that bagel you ate. Right?
Plus you have to pay employer tax, so that really eats into your 1099 income.

Just a general comment here: on your home page, there used to be recent comments on the right. I would often look at them if they were under posts I was interested in. Is that gone for good? It was a nice way to see comments that were pertinent to me.

I pay for payroll taxes on taxable income. The lower my taxable income, as in, the more I deduct, the less taxes I pay. I also get to deduct things like health insurance premiums and I don’t have a floor to meet for most deductions.
As for food/entertainment deductions, 2018 has new rules so it might be too early to tell you how my deductions will work. Dining out, coffee, and food at a cafe make up a very tiny portion of my expenses so I might not be the best example to use when it comes to entertainment expenses.
If writing off entertainment expenses are important then I would recommend getting a shared office or coworking space which will run you $500/month and you can write that off directly against your taxes and in return you will be provided with coffee and beer and often food.
I don’t think IRS is terribly sophisticated and many of us leave a lot more money on the table because we don’t want to go toe to toe with an IRS agent. I don’t think they are vindictive so for those who are willing, it’s worth the fight.

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