How Self-Employment Tax Works (And How To NEVER PAY It!)

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Information How Self-Employment Tax Works (And How To NEVER PAY It!)

Title	:	How Self-Employment Tax Works (And How To NEVER PAY It!)
Lasting	:	11.26
Date of publication	:
Views	:	32 rb

Would I still file a schedule C if I filed the form letting the IRS know I'm an LLC but wanting to be taxed as an S corp?
Comment from : @ashleetiamiyu1653

What if a private person wants to pay in cash and no 1099 for childcare/ or elder companion work?
Comment from : @robinsmith8846

Hey, so I received a 1099 MISC from TikTok with my earnings listed in box 2 as royalties So does this mean I do not have to pay self employment tax? My tax guy at H and R block said I don’t but I’m kinda confused/worried because I assumed I’d have to and thought other people did Is the form wrong? I told my tax guy my concerns and he doubled down on it so I’m worried Should I have received a 1099 NEC and filed on schedule C rather than E? So confused
Comment from : @KeegNWZ

Very helpful video! Thank you -- much appreciated
Comment from : @jackmchenney757

So if I had employees, I'd only have to pay 7?
Comment from : @CollinLutz-p9e

Can you explain blendid tax rates for the self employed brWhile filling my taxes i was able to bring my taxable income down to only 9756 But they are taxing that at 631 brSo im expected to pay 6156$ out of the 9756$ in taxable income It doesn't seem right
Comment from : @PNWMushroomMan

Sounds to me like an S Corp is still paying 153 in self employment taxes, but just calling it different things
Comment from : @TruthMercyBaptist

My wife is retired and collecting social security after 30 years of being self-employed Let's just say I am glad we paid our taxes
Comment from : @denniskirschbaum9109

Would love to get your feedback on the $32k SETC Tax credit youtube/KKiyASzt3hw
Comment from : @jasonfeemster7258

no thank you for sound effects
Comment from : @shericontrary2535

How about 1099
Comment from : @6ixthhydro652

Im 14, and I dont know how to even fil taxes, so i will be keeping income under $400 so i dont have to file anything I want to earn more tho, but I dont wanto go through process of filing them
Comment from : @VividAxis

How much do you charge ?
Comment from : @JahonestyLevy-f2n

Friendly reminder that if youre self employed and not paying any taxes, you're effectively screwing yourself out of social security when youre old
Comment from : @vfgfdfdf

The constant pan-ins are really distracting chief
Comment from : @joshdeeney8456

Butif people don't pay their Self Employment Tax, they won't have Social Security waiting for them when they need it And what about Medicare?
Comment from : @johannaosman6620

If someone started an llc/scorp in the month of october, can they go back to January for the write off benefits
Comment from : @jayhen5969

Can you help me understand if I'm not in the US neither a resident or citizen of US, whats the purpose of me paying medicare? Which entity is best for an e-commerce company just starting out
Comment from : @ilovelearning2

Hot damn! You mean to tell me I can NEVER PAY SELF-EMPLOYMENT TAX AGAIN!?!? And all I have to do is spend thousands to open up and operate an S-Corp, and pay PAYROLL taxes instead? Along with paying payroll fees And the cost to file an extra tax return For both federal and state And meet all the additional requirements that come with having an S-Corp JFC Please chill with the click-bait titles
Comment from : @marc2812

Would I file self employment taxes if I accept donations on my Channel?
Comment from : @weRpeculiartreasures

OK, so I'm playing the IRS and their game is "Three-card monte" I'll find the Lady once in a while but, for the most part they'll get my $
Comment from : @KingKong-bq7wt

Well presented imfo My accountant cals it the double tax You pay money in taxes on your income and on the money you used to pay yourself that income That's one of the main reasons a person will get into some sort of Corp to just pay business tax
Comment from : @mattmcrae1458

Amazing Thank you for this Video! had to subscribe
Comment from : @scottmoseley5122

hey cpa coach were u reading from q-cards, ur good
Comment from : @CHEFMART

You will never ever have social security building up
Comment from : @bertimus7031

So in this case of filing as an S-Corp and being self employed, would it be beneficial to have yourself as a 1099 or W2 employee?
Comment from : @AbbyL-qe1tt

For someone w a w2 job that is slready paying towards social security and medicare, is self employment tax still applicable if the person has a side hustle business?
Comment from : @johnma1280

Cfmr
Comment from : @khafreahmose8768

Dear Sherman, Thank you for your video Very interestingbrI sent you an email regarding to tax issue please checkbrThank you
Comment from : @maxsegment

WHY ? IRS GOVERNMENT WOULD WANT SELF EMPLOYED PEOPLE TO PAY MEDICAID AND MEDICARE IF THEY ARE NOT EMPLOYED BY ANY COMPANY, ?
Comment from : @danponitlong

What about zero income , but lost money in fees/ supplies/ shipping labels How does that work ?
Comment from : @danponitlong

Is a SEP IRA dollar for dollar deduction in tax burden?
Comment from : @corysmith2718

What about if your employees are nonresidents/noncitizens? Would you still be responsible for paying taxes on employee income?
Comment from : @AyakSors

I have a LLC for my Catering Business but it's a side job I only do on my days off what entity should I change my to I only have one worker as my cook they saying I still have to file for Employer quarterly report I also have reemployment do I need the reemployment or should I cancel it
Comment from : @ericaflorida1515

You can create deductions? By moving money from one account into another account? What is that mean? 5:04
Comment from : @lightningwerewolf2907

Love the simplicity of explanation 👍
Comment from : @lise0cu

great video
Comment from : @tamaratravels44

can you do some videos specifically for 1099 folks? I am a coach, men's clothing stylist and affiliate for a haircare brand Some MLM, some not All my pay is 1099 and I'd love info on what is the best way to structure that and lessen taxes so I can share best practices with my teams (people who have joined me to sell haircare too) many people do 2-3 "jobs" as contractors but i don't know if I should be sole proprietor, LLC or what! i do try to write off as much as possible but I don't own any of the companiesTHX
Comment from : @marymurphy4390

I have a youtube travel channel and I plan to deduct travel expenses for my tiny channel on my taxes
Comment from : @TravelsoFun

I just discovered your channel as it was a suggested video while I searched for investment videos You are very easy to understand I hope you absolutely crush it with subscribers and views in the months and years ahead Like Stock up with LARRY JONES and Richard Fain -- 2 black men with subscribers over 600K Much love and respect for the great content
Comment from : @TravelsoFun

☑☑
Comment from : @smart_rajib

Can I get you to file my tax?
Comment from : @daringplanet2907

Hi: I like your video Very easy to understand
Comment from : @Mariana-bo2dh

Hello! I'm new to your channel and I think your videos are very interesting and amazing! I also liked and subscribed😁Keep up the amazing content and have a good one my friend🙏🏼❤️
Comment from : @carsonwilliams7386