I appreciate this, let me know if you have any links or resources I can use.
I thought I was doing something, deducting part of my housing costs (i have a dedicated room for business), equipment, some furniture, etc. but I have a ways to go.
And you are right, this is the American way. 1099 income is great. I have a friend who is always pulling some of the moves you mentioned. Like we'll go out to eat, he will order a bunch of shyt then claim it's a business lunch. Him and his wife are already well off he doesn't even have to do that, but that's how these rich a$$holes keep stacking as you said.
Here's the easiest way to think about things: An employer in the United States of America MUST provide all the tools necessary, to the employee, to perform that job.
If these companies weren't forced to provide things, they wouldn't. So once you walk in the door, they have to give you the desk, the chair, the computer, the paper, the supplies, the headsets, the toolbox, the electric, the heat, the internet, the parking..... Every day shyt you notice, that's in supply in your office and available to you, the company HAS to provide those things, by law. Therefore the law gives them a break on paying taxes on it, because they are being forced to provide it.
So take any day at work, get out your car, go inside, and notice every thing you use. They can write that off. This is at ANY job... Now, any employee at ANY job, if they are taking personal money to provide work related items, they can write it off. If you have to bring a stack of paper or a pen from home, because paper and pens weren't provided at your job, and that's part of your job... YOU can write it off yourself. I want to enforce the idea that employees are NOT supposed to be paying money for work related items. Flowers on your desk ain't work related. Feel me?
Now, realize that YOUR business, is no different. You can have an LLC and have someone else run it correct? And pay them a salary while you do nothing? There's no law saying you have to be the person who runs your company. So the fact that YOU ARE YOUR EMPLOYEE means your company has to provide ALL THE TOOLS to do your job. Do you have to post on social media? Wouldn't a company hire a social media guy to do that and provide him the tools? Wouldn't they write those off? Things like a phone, a computer, ad money, etc.. Well just because you are the social media guy at your company, doesn't mean you should be paying for this out of your personal account AND paying taxes on it. If you had streaming company wouldn't you hire other people to play the games? Just because you're the one playing the games on your channel, doesn't mean you don't need a ps5, a tv, a state of the art headset... Yea you could provide the team with a ps2, a shytty headset and a 40 inch insignia.... But they can't force you to choose what type of tools to provide, just that you have to provide them...
Again.. Provide yourself with too much, you gonna find yourself broke and your business shut down. Do everything yourself and never delegate to other employees and you will have 100% of the work on your back. Keep doing this over and over and get on the IRS radar when you building shell companies and listing things that have absolutely nothing to do with providing tools for the job.
Don't get it confused. There's bending the tax laws and there's breaking the tax laws. There's writing extra shyt off because your business encompasses that and then there's writing off trips to Greece for your dog walking business.. See a tax professional cause it's there job to find this bullshyt in your business.
