Is there such a thing as a good state to live in as a single 1099 worker?

Posted by ambushiz@reddit | Truckers | View on Reddit | 19 comments

Taxes suck 😭

[-]

MR_6OUIJA6BOARD6@reddit

Texas, Florida. Weather sucks during the seasons, but there are no state taxes.

[-]

hiimhereforthe@reddit

There are seasons in Florida and Texas? Hot and hotter? Humid and raining? You know clouds aren't a season, right? Are the seasons in the room with us right now?

[-]

Row30@reddit

If you’re driving someone else’s equipment, hauling loads they set up, they bill for freight shipments, etc, you are an employee, not a 1099 independent contractor.

The W-2 is issued to employees on the company payroll, whereas a 1099 is given to independent contractors and other non-payroll workers.

[-]

Fearless_Selection69@reddit

I am pro 1099. As long as you file your taxes, show profits and losses, you’re golden.

You cannot use 1099 to hide from big brother and keep a fat chunk from your paycheck lol.

Workers comp for a self insured business owner is like $50-$60 a month.

[-]

AndrewSS02@reddit

Set up a trust. Have that own your LLC. Make the trust pay out to you as a payroll manager. Less in taxes. This is how it's done in real estate.

[-]

Your best bet is to incorporate as an S corp. Get a good accountant. You can get really nutty with where you put your money and what you can write off. You can save more on your taxes. States that have no income taxes also help.

[-]

saykylenotcow@reddit

One without state income tax never hurts

[-]

yankee_chef@reddit

Nothing good about 1099

[-]

Firm_Leave_4903@reddit

With dependents it’s good if you got a good tax guy.

[-]

yankee_chef@reddit

I'm not saying that, I'm saying the jobs with 1099 suck

[-]

SeaRow556@reddit

Montana?

[-]

Waisted-Desert@reddit

You're living in the state of denial as a 1099, so why bother paying taxes?

[-]

fartinez@reddit

State of denial

[-]

SufficientOnestar@reddit

Any state that doesn't have state income tax,other than that no not really.Pay your taxes quarterly so when they go looking they will see that and not freeze all of your assets.

[-]

santanzchild@reddit

Unless you are making 20% more than the next guy running a W2 being 1099 literally does nothing bit give you headaches. Quarterly fillings cpa fees no workers comp the list goes on.