1099 vs. W-2: The Tax Mistake Freelancers Make That Triggers IRS Trouble with Nelson

Описание: In this episode, host Amro Bandan and Nelson Drasner, Enrolled Agent, discuss the critical differences between 1099 and W-2 tax classifications. Many people mistakenly think they are 1099 employees when, in fact, they may be self-employed contractors. This episode clears up confusion and explains how these differences impact taxes, deductions, and overall tax strategy.

Nelson is a tax expert with over 20 years of experience as an IRS revenue agent, specializing in auditing self-employed individuals, businesses, and tax returns. His expertise is crucial for understanding how the IRS handles self-employed individuals and the tax advantages and pitfalls of being a 1099 contractor versus a W-2 employee.

Expect to Learn
Key differences between a 1099 contractor and a W-2 employee
Tax deductions available to self-employed individuals that W-2 employees cannot claim
What expenses self-employed people can deduct, including home office and vehicle-related expenses
The importance of paying estimated quarterly taxes when self-employed
What happens if you misuse business expenses or make deductions incorrectly
How employees and contractors handle tax payments differently

Episode Breakdown with Timestamps
[00:00] – Teaser
[00:35] – Welcome & Introduction to Tax Resolution: The Badran Way
[02:21] – W-2 Explained: Salary, Withholding, and Employer Taxes
[06:35] – Vehicle Deductions: Ordinary, Necessary, and Not Excessive
[09:32] – Uber/Lyft Drivers: Fuel, Repairs, and Customer Supplies
[11:14] – Retirement Accounts for the Self-Employed: IRAs and Deductions
[13:16] – Summary: Employee vs. Self-Employed – Key Takeaways

Follow Nelson Drasner:
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👉 Company’s LinkedIn:   / badran-tax-consultants-corp  

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