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by candiddevmike 105 days ago
I'm SE and there are quite a few tax breaks available, especially if you structure as a S-Corp. The hard part is figuring out what all tax breaks are available as they're constantly changing, like last year you can deduct dental insurance premiums.

I still pay an eye watering amount, and being SE shows you the brutality of the system (estimated taxes are insane, especially the payment schedule for them when you're NET 30/60).
1 comments
mindslight 105 days ago
> estimated taxes are insane, especially the payment schedule for them when you're NET 30/60

Total layman understanding here, but can you not do cash basis plus schedule AI?

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candiddevmike 105 days ago
Kinda, for Q2 and Q3 you're expected to pay the full amount for the quarter about a month or so before it ends. So it's less the accounting method kinda and more I haven't been paid for a month that I already owe taxes for.
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mindslight 105 days ago
The periods aren't quite quarterly though. "Q2" ends on 5/31 and tax due 6/15, "Q3" ends on 8/31 and tax due 9/15. IIUC.

(I'm certainly not trying to argue that doing taxes 5 times a year isn't fucking onerous, though!)

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