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Jan 16, 2023
6:15:59am
BYU-Ite All-American
You’re still paying slightly more in payroll taxes as you will pay the 2.9%
instead of the 1.45% of Medicare tax. But that will more than likely be offset by the business deductions you are likely going to take annually. Combine it with other deductions, like PTET, QBI, etc., if you are set up correctly, and it could certainly benefit you from a tax standpoint.
This message has been modified
Originally posted on Jan 16, 2023 at 6:15:59am
Message modified by BYU-Ite on Jan 16, 2023 at 6:16:54am
BYU-Ite
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BYU-Ite
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