News for hackers. Stuff that matters.

A comment on $100k/year still might not be enough to buy a home. Parent comment

Re:$100k/year still might not be enough to buy a home by anonuser123456 on Tuesday October 15, 2019 @03:30PM (#21262671)
1099 income you pay full amount of payroll tax. W2 your employer kicks in 1/2.
[ Parent | on HN ]
Re:$100k/year still might not be enough to buy a home by icedchai on Tuesday October 15, 2019 @03:42PM (#21262812)
You need tax deductions: expenses, SEP IRA contributions, home office space, utilities, etc.. You'll get that 1099 income down real quick.
[ Parent | on HN ]