3 ms·
20% deduction not discount so more like 6-10%. Then it gets cancelled out by SE tax.
by bojangleslover 4y ago
20% deduction not discount so more like 6-10%. Then it gets cancelled out by SE tax.
- Kon-Peki 4y agoYes, you are correct (deduction vs discount). But SE taxes - you pay those too if you are working with a W-2. I thought it was understood that working on a 1099 basis rather than a W-2 basis involves a different rate to make up for the "employer-paid taxes" that a W-2 person does not see.