DannyChiarelli wrote: 1) I refuse to send my Social Security number to ClixSense. (or to any GPT site)
2) Paying Self Employment Tax (1099) would be equivalent to starting over this late in the year.
- 15.3% Self Employment Tax added on top or normal taxes of 25% (40% total)
- Cash out fees.
I know exactly how you feel Mr. Danny! I filed a 1099 last year, and I had to write so much stuff off for my delivery business I did ( UBER EATS)
While you can write off internet expenses, and some other stuff like the desk, and security software that you use you will still have to pay something.
My tax rate last year was 20%. That means I gave the government 20% per dollar I make or .20 cents. That is absurd, and I feel like this new tax plan that the current administration introduced will make it worse for Self Employment. You can only earn $600.00 per calendar year.
That's not including money you make off the stock market. I mailed 22 pages to the IRS this year.