This tax trick will save you thousands!!! 😱💸💸💸💰

Save tons of 💸💸💸 in taxes by doing this 👇

If you currently work as a W2 employee, you should seriously consider changing your status to a contractor so that you can be payed with a 1099 form. When you’re a 1099, you have access to deductions and savings that employees just don’t have. The gov assumes that W2 employees always have access to benefits like health care through their work, and that they therefore don’t deserve tax breaks 😔 brutal I know.

The GOOD news is that 1099’s can get taxed on much less income than W2’s! By taking the right deductions, you could pay half as much in taxes as you do now! I recommend running the numbers and seeing if it's the way you should go, because chances are: it is! 🤑

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♦️ The statements made in this video are not legal or investment advice. Please consult a licensed professional before making any decisions based on or influenced by the information provided here 🧑‍⚖️

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[TheSonorabob]

I think it’s important to point out that you can do both in the same year

[jenjoseph]

Great reason to become a “consultant” in your skill field.

[sheldon]

I am a part time 1099 employee, what deductions can I use?

[mwub]

No you pick one vs the other expenses on 1099 you can’t jus put anything

[amymacwan]

I’m 1099 home health nurse what can I deduct

[itsjcfamily]

I have a question im already at $600 on my sales in poshmark for items that i bought in the past and my wife and I decided to sell them I don’t use computers just my phone to take pictures is it a percentage or a bracket or something that i know how much i will pay for this 600$ or more if i have no deductions?

[VanessaFragoso-yf]

How can I file a w2 and 1099 with our employee

[evangaudet]

Explain to me the difference between a 50k salaried W2 employee vs a 1099 employee and potential tax returns vs taxes paid. How about you make THAT video? Because this video is some bullshit.

If you’re pulling in 200k a year and you have your own accountant or you’re OCD about record keeping and receipts and you want to spend 2 weeks preparing your taxes every year to save 10, 000$ go for it. I’d rather not give a single flying fuck about a gas receipt if I was making 200k a yr on salary and take the 10k chin bump.

At 50k a year it makes no difference though and is way worse for the 1099 because a 1099 at 50k a year isn’t going to do all of the above. If they weee the type of person to do all of the above they would t be making 50k a year.