I made 50,000 this year and after deductions really only made 24,000. I’m getting slammed with taxes… is there anything I can file or do that I’ve not thought of?

  • kingoptimo1@alien.topBEnglish
    1·
    1 year ago

    If you only made 50k gross you should be able to deduct to have zero liability. I make 200k+ and with all deductions my net is less than 30k. I paid $1200 in taxes for entire year

    • CryptoOdin99@alien.topBEnglish
      1·
      1 year ago

      I second this… I was about $750k and by the time all deductions and depreciation was about $40k in taxes… still not chump change but percentage wise not bad at all.

      You have to maximize your deductions that is literally the only legal tax strategy you can use and it is very very highly effective