A Tax Strategy that Costs a Business Thousands of Dollars in Tax (AVOID THIS)

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ABOUT JASMINE DILUCCI, JD, CPA, EA
Jasmine DiLucci has specialized in tax since high school when she first became licensed to represent taxpayers before the IRS.
Now as a tax attorney and CPA, she works with individuals and business owners across the nation to resolve IRS tax issues, streamline accounting, and minimize tax for business owners.
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DISCLAIMER: This information on this channel is for educational purposes only and does not constitute professional legal or tax advice.
#taxstrategy #taxsavingtips #jasminedilucci

[@attorneybob]

The self employment tax rate isn't 15+%, it's about 14.1-ish percent after factoring the tax payer can deduct the employer's side as an expense. Also, the full $200k isn't subject to self employment tax. The other issues, especially potentially, the QBI is on point, albeit it depends on income

[@solutionsmanaged]

I enjoy listening to the audiobook Small Business Tax Made Simple. Would you suggest this book as a good source of tax information?

[@joeatch2]

It's unbelievable how many people have no idea what they're doing....

[@ianking2542]

I’m people

[@le_th_]

@joeatch2 I think the more accurate thing to say, in regard to this video, is that is is unbelievable how many people have no idea what they're doing, but calling themselves tax advisors or a CPA.
Now, if you're naive or inexperienced in the world, generally speaking, then it would also be accurate to say that it's unvelievable how many people have no idea what they're doing because either the person saying this isn't paying attention and just now coming to the revelation, or they're too young to have recognized this prior to having the realization.