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Freelance or Contract Jobs
Freelancers and independent contractors have more control over their taxes.
That includes home office costs, software, travel and even some meals.
Unlike salaried employees, consultants can deduct marketing tools, education, office space and travel expenses.
Many structure their incomes to take advantage of lower business tax rates instead of paying high personal income taxes.
This job is ideal for marketers who want flexibility and are good at networking.
Freelance IT Consultant
If you have tech skills, consulting offers tax benefits, Lokenauth said.
Freelance IT consultants can earn between $90,000 to $150,000 if they build up a solid clientele.
it’s possible for you to deduct your home office, equipment, software subscriptions and professional development costs.
Plus, structuring your business as an S-corp can save on self-employment taxes.
Jobs With Special Tax Treatment
Some jobs offer unique tax benefits that can lead to significant savings.
Farmers and agricultural workers can credit taxes, depreciate equipment and deduct land improvements.
This means you might exclude up to $112,000 or more from U.S. federal income tax.
Salaries in government roles are often lower than in the private sector and career advancement can take longer.
Real estate agents can write off car expenses, home office costs, marketing expenses and even phone bills.
Youre technically self-employed, so youll need to handle your own taxes and benefits.
you might write off meals and incidental expenses without receipts using standard rates.
Plus, there are deductions for things like sleeping supplies and satellite radio subscriptions.
The downside is that youre away from home a lot.
A job that saves you money on taxes isnt necessarily a better job.
Taxes are part of the equation, but they arent the whole story.
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