How Business Owners & 1099 Contractors Pay Less in Taxes (Legally)

I wanted to wanted to do a topic very common here. Okay, so this is just if you run a business, I want to show you how to reduce your tax and avoid IRS problems. Okay, in the process, we're going to go over a very real court case that shows a very common issue for

business owners and for 1099 contractors. So, the court case I have, these taxpayers have been to tax court at least six times. They paid tax on net income they didn't even have and it happened because they didn't have the right advisor or system to avoid it. Okay, so I'm going to break down exactly

what went wrong, what the court said, and what you can do differently so you can reduce your tax bill. And let's get into it. Okay, and of course I want to introduce myself. I'm Jasmine Duchi. I'm a tax attorney, CPA, enrolled agent. Um hopefully you guys have been following along for a while, but I love this

stuff. I of course run a full practice, but there's nothing more fun to me than just actually sharing this with people. um I could talk tax forever and so um growing increasingly frustrated with just all of the terrible tax advice online and so this is me just bringing like real stuff to you guys what's

actually behind closed doors with professionals that a lot of times cost a lot of money and don't provide the stuff for free and so I wanted to provide this for you guys um all right so today I want to start with first first I just want to discuss like who what what situation are we discussing right and

just like base level we're going to for the sake of using the board. Um, this is just like I just want to just like where we're at, right? Because we've got W2 and we've got 1099. What is 1099? It is a business. You're running a business, right? So, it's like when you're a W2, you're a W2. You're an