Currently have services side work on pace to generate 150k this year. Finally formed an LLC, but looking for ways to reduce my tax burden for the first half of the year as an independent contractor. Anyone have experience in this?

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Write off everything from car payments and depreciation to business dinners / entertainment as business expenses

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Look into SEP IRA. Deductible as expenses and not taxable to you as income

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Thank you!

Talk to a tax accountant about what you can write off. I’ve also taken payment from clients in equity and done some bartering for services which can help if appropriate

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Home office and individual 401k

It’s not just a ‘regular’ 401k, there is a special type, FYI

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