1099 vs. W-2: The Tax Mistake Freelancers Make That Triggers IRS Trouble with Nelson скачать в хорошем качестве

1099 vs. W-2: The Tax Mistake Freelancers Make That Triggers IRS Trouble with Nelson

In this episode, host Amro Bandan and Nelson Drasner, Enrolled Agent, discuss the critical differences between 1099 and W-2 tax classifications. Many people mistakenly think they are 1099 employees when, in fact, they may be self-employed contractors. This episode clears up confusion and explains how these differences impact taxes, deductions, and overall tax strategy. Nelson is a tax expert with over 20 years of experience as an IRS revenue agent, specializing in auditing self-employed individuals, businesses, and tax returns. His expertise is crucial for understanding how the IRS handles self-employed individuals and the tax advantages and pitfalls of being a 1099 contractor versus a W-2 employee. Expect to Learn Key differences between a 1099 contractor and a W-2 employee Tax deductions available to self-employed individuals that W-2 employees cannot claim What expenses self-employed people can deduct, including home office and vehicle-related expenses The importance of paying estimated quarterly taxes when self-employed What happens if you misuse business expenses or make deductions incorrectly How employees and contractors handle tax payments differently Episode Breakdown with Timestamps [00:00] – Teaser [00:35] – Welcome & Introduction to Tax Resolution: The Badran Way [02:21] – W-2 Explained: Salary, Withholding, and Employer Taxes [06:35] – Vehicle Deductions: Ordinary, Necessary, and Not Excessive [09:32] – Uber/Lyft Drivers: Fuel, Repairs, and Customer Supplies [11:14] – Retirement Accounts for the Self-Employed: IRAs and Deductions [13:16] – Summary: Employee vs. Self-Employed – Key Takeaways Follow Nelson Drasner: 👉 LinkedIn:   / nelson-drasner-35943ab8   👉 Company’s LinkedIn:   / badran-tax-consultants-corp   🔗 More from Tax Resolution: 👉 Website: https://badrantax.com/ 👉 LinkedIn:  / amro-badran   👉 Instagram:  / badrantax   👉 Facebook:  / badrantax   👉 TikTok:   / badrantax   Follow the Podcast: 👉 YouTube:    / @badrantax   👉 Apple Podcast: https://podcasts.apple.com/us/podcast... 👉 Spotify: https://open.spotify.com/show/4Rz4nHO...