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> Compare this with the self-employed who seem to "obsess" over taxes, despite barely paying a higher rate. I'd wager that it's because it's hard for me, as an
by pavel_lishin 3y ago
> Compare this with the self-employed who seem to "obsess" over taxes, despite barely paying a higher rate.
I'd wager that it's because it's hard for me, as an employed person, to fuck up my taxes so badly that the tax authorities would come gunning for me; most of that is handled by my employer's other employees. I just fill out a pretty basic form, and count myself done.
Where as if I were self employed, I'd have to worry about quarterly filings (I think?), and the knowledge that there's absolutely nobody but me who's checking up on things.
- freeone3000 3y agoYou are required to have quarterly filings. This happens so infrequently with self-employed persons that the IRS has a special section for if you were supposed to file quarterly, but didn’t.
- mixdup 3y agoit's not super hard as a self-employed person, if you don't want it to be. Just setup your business as a real company and pay yourself via payroll instead of pass-through There may be other tradeoffs, but there may also be other advantages. the original point of just being aware of both sides of the coin is a big part of it, most people don't look at the deductions on their paycheck. hell, a significant number of people think their entire tax bill is just what they have to pay in April