tyingo
Joined 11 years ago
Joined 11 years ago
Requirements vary, but typically there's: - tons of recurring fees (classes, mandatory drug testing, etc) - reimbursement of the court's costs - classes, parole officer, drug testing, etc, located in areas away from public transportation - judges that chronically no-show, after you've paid to get there, parking, etc.
I spoke to one in-depth...it's about $500/month in direct costs, not including indirect costs like transportation. In many areas you would really have to own a vehicle to get to the required places. Which, for a felon, also means "special" high cost SR-22 insurance.
Couple that with the sort of jobs available to a convicted felon, and...
Not sure if that $100/hour was a 1099 type rate or a W2 type rate.
Either way, it does still likely beat your $120k/year salary, but perhaps not by as much as you think.
Either way (1099 or W2), you aren't getting the benefit of any company paid medical, 401k, paid vacation, sick days, etc.
If it happens to be 1099, you also have to account for the self employment taxes you'll have to pay.
Using a spreadsheet I keep around for this purpose, assuming $120k salary with $600/month worth of company offset health insurance, a 100%-up to 6% salary 401k, 3 weeks vacation, and 10 paid holidays...the 1099 equivalent to $120k/year would be $80.90 per hour.
Or in short, for anyone considering making the move, don't forget to calculate the benefits that come with full time employment before you set your rate.
It's also not a trivial trade-off. Varies by state, but in Texas, for example, you could be choosing between 2.5 years + probation or 5 full years.
Not all felons need SR-22 insurance, but many whose offenses were NOT vehicle related have to have it. Drug convictions, for example, even if it had nothing at all to do with a vehicle.