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@bgriffin wrote:
Someone doesn't understand taxes. Not that I'm naming mames or anything.
@mikemikemike wrote:
Sole proprietors by definition receive wages on a W2. 1099 recipients would have to go through a bit of gymnastics to give themselves W2s.
Does anyone here report as a sole proprietor??
@iShop123 wrote:
Depends on how much you make, but for most under 6 figures, it will be less. If you're one that doesn't itemize, the increase in standard deduction will help. My kid paid a lot last year on his scholarships. Since he doesn't have other income, he'll do a lot better this year with the increased deduction. We itemize and our tax bracket will be 3% less, maybe; going to try it both ways (standard and itemized) since the standard deduction almost doubled.