Anyone have any small expenses that have helped reduce their taxable income. I’m getting murdered on taxes being overemployed and I don’t have a ton to write off because I don’t travel, I don’t meet clients etc. I’ll be paying about 50k in federal right now

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Posting as :
works at
You are currently posting as works at

Try to get the W2 to be a 1099 and then pay yourself a normalized salary under your corporation. Pile up the excess cash in the account then pay yourself a dividend end of year or quarterly at a much lower tax level.

I’m looking for a J2 again. Let me know if you have leads.

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I can’t. My W2 is a corporate job with benefits etc. but thank you for the advice! My J2 is ending and I’ll be looking again as well!

Is that Federal tax, or Federal + FICA? And are you paid via W-2 or 1099?

I’m 1099 for one job and W2 for another. That’s just for my 1099. It’s both

I didn’t have to pay the full FICA either because my w2 job covered a lot until I hit the max

A CPA that is also a tax lawyer that is worth a crap will help you a ton on the deductions part. They are often well worth the cost for their services. Phone and internet or almost anything you use primarily for business can be considered an expense. Keep all receipts.

We have one. I already have the usual things (utilities, some driving etc) and was curious if anyone had anything different

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