+repSet up a S corporation for self. have your clients or customers now pay the corporation instead of you. begin withdrawing a salary ( earned income) from the corporation . not a full salary 50-60 percent then pay yourself the other 50-40 in dividends ( unearned income ). self-employment tax applies only to earned income.
you are then eligible to deduct half of your self-employment taxes from your federal taxable income. You can also deduct anything used to generate your income. No reason not to have a home office which means part of mortgage and utilities as write off. and now you can also pick up the 54 cents a mile driving to any location when you work. You welcome..
oh yeah Fuck Biden
thank you London this is what I had in mind to help @UncleBuck with..you can also show losses for the first 2-3 years to further sweeten the pot..the government completely accepts this and any CPA will confirm.
you're welcome, LD.
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