It's fine if you are in Eastern Europe or something like myself, I have ~$5400 monthly salary (don't log hours, so don't know hourly rate, also logging hours is a red flag for me). But if you are in the US that is very low for your experience.
Also look into lowering taxes, 50% is super high. I manage to pay low (flat) tax in my country because I registered self-proprietorship/registered entrepreneur company and have flat tax rate (it's an option if you meet some conditions). Maybe something similar exist in your country, do the research, contact professional accountant if needed.
Thanks! Just curious why logging hours is a red flag for you?
Well, I myself hate logging hours. But I think it's a personal issue of mine.
In short, it's maybe my ego thing. I somehow hate when people measure my minutes. I know what I do and I can manage any task they give me, quickly. But I hate when someone asks: "how many hours did you exactly work yesterday".
I finished all necessary tasks and a bit more :D like what's your problem with my hours?
But I know. I can be a complicated person in that sense...
50% is super high in the US, generally speaking, especially for income in that range. The person may be overpaying in taxes, or is including other stuff in 'taxes', or has an incredibly high local/state tax rate. A single person with no dependents earning $72k/year would, generally speaking, have a federal tax burden of around $8900 - 12%.
Also look into lowering taxes, 50% is super high. I manage to pay low (flat) tax in my country because I registered self-proprietorship/registered entrepreneur company and have flat tax rate (it's an option if you meet some conditions). Maybe something similar exist in your country, do the research, contact professional accountant if needed.