To expand on this for people who don't freelance or consult, technically the brackets are graduated, but figure on 25% for federal income tax and 15.3% for FICA

To expand on this for people who don't freelance or consult, technically the brackets are graduated, but figure on 25% for federal income tax and 15.3% for FICA. Texas does not charge state income tax, so the total is about 40% gone off the top. In addition, you have no benefits, so health insurance comes out of pocket. For a 35 year old female in Travis county on a PPO with no subsidy will run $352/month. Long story short, over 3 months after taxes and health insurance, with no other benefits like retirement nor any other business expenses like a computer and internet, that $20,000 becomes $10,884 or $3,628/month.