self employment sucks my taxes are nearly 50% this year

Tax CPA, Startups, ISO, NSO, QSBS, Web3, Angel Investing

Developer 🤓 build, develop and operate Farcaster solutions @ dtech.vision also love tech, decentralization, fitness and oldschool rap 😎

cool will keep in mind sadly my personal income is wrecked from degen lp airdrops. i just started a pass through on the side for a little contracting but the income is low enough on that where most is written off

still dumb

yeah i have some deductions but the rate after isn’t gonna change

Damn, that’s tough
Have you looked into any tax reduction?


Geophysicist || web3 || UI/UX || art || FCB ❤️ 

no i prefer not paying half my shit in taxes wtf

Professional Touring Musician, Composer, Producer, and Audio Visual Artist in Web 3

no im peaking at 35% tax bracket from claiming degen lp rewards which are fully income not capital gains (at time of claim during near market peak, sold all), then as a pass through llc i have to pay that + 15% self employment tax which brings me to 50% on any further income (which is like why even work for income this year now)

i only have like $10k in this new llc and can probably write it all off but that still seems crazy. 2024 is a tax anomaly for me because i put the degen airdrop into the lp plus some cash and it worked out really well (i never traded memecoins before this and lost all my money in 2019-2022 self funding a startup)

are you making millions? i’ve been self employed for 14 years and have never come close to even 35%

I like being self employed...but it's sometimes tiring and tough