As A Freelancer, Do I Pay More Taxes If I Do Work Under My Company Or Do I Pay More If I Do Work Under My Na?
I work as a freelancer and I have done contracts through my company where I got hired with a 1099 MISC; I ended up paying almost 20% of the income I made in taxation for each business I got contracted through my company. Would I have paid less taxes if I didn’t have a 1099MISC meaning if I had gotten cash?
If I Am An Independent Contractor, Do Tax Deductions For Me Reduce Taxes Owed On A Dollar For Dollar Basis?
I make $12k/year as an independent contractor, and I file a 1099. (I’m asking because I am considering purchasing a phone for business use.)
If Tax Consultant Prepares My Taxes, Who Is Liable If Consultant Makes A Mistake?
I am kind of confused regarding my tax preparations. I am aware of some tax consultants who might be able to get me more money than some of free/paid online tax softwares.
When I spoke to them then they are indicating that there are some exceptions in my case which might not be included in tax preparation software.
I am wondering if some of these are not accepted by IRA who will be liable for the mistake/extra money that I might get in refunds. Does this comes back to me because I hired the tax consultant or the responsibility will fall on consultant since he is the expert. Please advise.
Thanks
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