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Home financial budget money news personal finance personal finance news I make $65,000/yr as an independent contractor in California. After business expenses, my net income is $34,000. I just paid $8100 in Federal and state taxes. Should I form an S-Corp to save on self-employment taxes?

I make $65,000/yr as an independent contractor in California. After business expenses, my net income is $34,000. I just paid $8100 in Federal and state taxes. Should I form an S-Corp to save on self-employment taxes?

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Or should I form an LLC? I’m looking for ways to maximize my tax deductions next year



Submitted April 18, 2018 at 02:25PM by Franny-Devito https://ift.tt/2Hcd5AO
financial budgetmoney newspersonal financepersonal finance news
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