How Self-Employment Tax Works (And How To NEVER PAY It!)

Video Description

How Self-Employment Taxes Work… And How To Avoid This Tax Altogether One of the most significant taxes that most people can reduce is their self-employment tax. But unfortunately most fail to reduce this tax because they don’t know they even pay this tax to begin with because they don’t study the details of their tax return. And others may know they pay this tax, but are unaware of the ways around it. Meanwhile, The IRS just received another $1 trillion dollars last year in employment taxes alone. And they aren’t interested in helping you pay them any less. And do you know who is getting absolutely crushed by this tax? People who earn 1099 or business income. Small business owners pay twice as much employment tax than employees on the same amount of income. And on top of all of that, they still have to pay federal and state income tax. But I’m here today to tell you that if you pay this tax, there is something you can do to avoid most of it. And if you’re wondering if you pay this tax, there is a 99% chance that you do if you earn ANY amount of money that is not taxed BEFORE it hits your bank account. Which is normally business owners and independent contractors like freelancers, drivers, stylists, and so on. So look, today I am going to give you the simplest and easiest to understand breakdown of self-employment tax and how you can avoid it.