How I got wealthy without working too hard

Re:How I got wealthy without working too hard by anm89 on Thursday November 18, 2021 @11:44AM (#29267466)

Working 1099 should be preferable from a tax perspective (if through an s corp) and from a liquidity standpoint (money is cash, not 401k contorbutions), not worse, I would think.

You do have to pay health insurance monthly but for a young single person I'm at 250 a month so nothing that really changes things.

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Re:How I got wealthy without working too hard by wonderwonder on Thursday November 18, 2021 @11:55AM (#29267608)

Even better, if you are married, your spouse can have a job that provides health insurance and you work as a contractor.

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Re:How I got wealthy without working too hard by cactus2093 on Thursday November 18, 2021 @12:02PM (#29267694)

Exactly what I was thinking, sure you have to pay health insurance and self-employment taxes but you can write off so many other expenses. You can write off computer purchases, even part of your rent or mortgage if you use an extra bedroom as an office. And then there are all kinds of ways you can re-invest earnings in your business instead of taking it as salary if your monthly costs are only $25k a month.

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