1099 Tax Deductions Explained (2023)

[@ZandroWoodsoul]

I never felt so important in my life.. here I am just thinking I'm a plumber working for some rich folks.. little did I know, I'm my own entity😅 Awesome video this is going to help me with my taxes this year, thank you!

[@IsrealJHenry-Actor]

She makes you feel like a Million Bucks after watching her videos. Like what have you been doing with your life?

[@GeorgianaOnline]

I’ve been paid as a 1099 the last few years, and I’m getting KILLED by taxes. Thanks for explaining in such a straightforward way that, yes, I CAN take deductions!

[@jorgesegura8044]

What do you mean paid as a 1099 ? Who pays you like that ? Are you an LLC ? With a private trust ? What are you doing and please explain it all. Thanks..

[@Just_A_Name14]

@@jorgesegura8044looking to snitch on a company to the irs for a payout 😂

[@Dbone69420]

52 seconds in and I'm already liking what this lady is saying! Waited till the end of the video to post this, Thank you for getting straight to the point!!! and great tips!!!

[@KarlaDennis]

You are so welcome, thanks for tuning in

[@KDiamond666]

She definitely got that energy I clicked 20 seconds in 😂 love her ❤

[@brendalogan6281]

I have been wanting to do 1099 work for a long time, but the fear of taxes keep me from it. I'm 74 and still working full-time. But know this contract will end in another year.. I still have to keep working because I have old medical bills and student loan ... can't retire. I have had other jobs sent to me. There are 1099 jobs that I've turned down because I don't know how to do the taxes. I have to learn this soon so that I can continue to work remote under 1099 and pay off bills so one day I can retire.. I know at 74 or 75 there's no way I can walk in and interview and compete with someone younger for a job. But I know I can continue to work remote and do 1099 work... And hopefully, travel cross cross country while I'm doing it. Thank you for the information. I'm gonna watch your other videos. I have to figure this out soon!

[@steeloink]

you missing out on claiming all your expenses as an independent contractor. Even if you receiving a W-2, you can offset those extra income against your W-2. You are in a perfect situation. Because you can claim expenses and setup a small office at home and reduce your W-2 Income with your 1099 work.

[@wolf-antics]

I do taxes for people and work with 1099s. if you need help, reply to me :)

[@mikezap1800]

Does that mean you can get a refund?

[@ethankim489]

such a simple easy-to-understand breakdown on a very complicated topic

[@KarlaDennis]

Awesome feedback, thank you !

[@IsrealJHenry-Actor]

Indeed! I totally agree. I wish more people did their videos like that.

[@luisxalteno5860]

The way you talk and the way you explain this was awesome first year business owner and I want to make sure as much of my sweat and sacrifice stays with me every year!

[@KarlaDennis]

You're so welcome! hopefully you are subscribed, please feel free to ask me Amy questions you have and I will try to answer them in my "Just Ask Karla" videos : )

[@Nikita.X1]

I love how you get straight to the point

[@omegahyman8732]

This is, by far, the shortest tax explanation video I’ve ever watched. And I’ve never learnt so much in such a short time span. You are awesome ❤ and thank you so much for your help. I hope you have a blessed year 😊.

[@yateska23]

This is the first video on taxes that i actually understood because all of this is like a different language for me. Thank you so much!❤

[@KyngBreezy999]

This was the best video ever, I actually can understand this and I’m thankful for it

[@KarlaDennis]

@@KyngBreezy999 thank you. It lease subscribe and share

[@AnuAbundantPriestess]

Thank you for making things clear and simple for us ✨👑✨

[@awilliams1889]

This was very educational for me. As a new business owner from both size. I’m also new to doing taxes as well. Knowing what to do and not to do gives me the confidence I need to walk in both. Thank you. 🙏🏼

[@Ox9707]

Easiest like, comment, and subscription I’ve ever given. Your insight here is straight gold!

[@KarlaDennis]

Thank you

[@chocolatety130]

I want to start being an independent contractor/business owner, and this is very helpful

[@KarlaDennis]

Happy to help!

[@lizbeth2210]

This stuff is so complicated and overwhelming to me; I really you clarifying

[@TannerMontana69]

You rock this video was very informative. Great editing!

[@izetaselimovic254]

Izeta

[@ewaewa3194]

super helpful. thank you mama!

[@darbyholmes8909]

Very helpful thank you! New to the 1099 and trying to learn more!

[@luzbaron2977]

Thank you so much Karla I already sign in for your webinar for tomorrow, I thought I signed up for today, but I'll wait I guess, I have a 1099 as an independent contractor but I just have one client, but I also do Uber now only once in a while, I have a W-2 job, I guess I'll find out with you if I can use the same bank account for the Uber income. Thank you so much, I feel I'm going to learn a lot. Yes, the IRS is destroying my income.

[@tyshaia]

This was very well-explained. Thank you !!!

[@ChristopherNealBUSHIDO49ERS]

This is BOMB!!! Thank you, Ms. Dennis! New sub!

[@KarlaDennis]

You are so welocme! And thank you so much for subscribing . Let me know if you have any questions

[@eugenetucker4461]

Very well put Karla. Much love!

[@KarlaDennis]

Thank you!

[@SAItheStudentMidwife]

This was a great video, simple and straight to the point!

[@rehman1995]

You are so smart thank you

[@TxmmyBeats]

Yay! I’m screwed!

[@doctork1538]

Very useful. I definitely liked this video!

[@KarlaDennis]

Thank you for the feedback

[@TheLearning0ne]

Thank you so much for this video! Very easy to follow and understand. This is my first year filing a 1099 and I was looking for more information. I appreciate it!

[@JuanMonsalve-qt7ps]

GOD BLESS YOU

[@KarlaDennis]

God bless you as well : )

[@lucycastro9501]

Thank you for your info, directions and patience. You make what you say, very clear and leaves no room for question because you're very thorough. Again thank you!!

[@KarlaDennis]

This is fantastic feedback, I appreciate you taking you time to watch and comment !

[@jonathanwalker140]

Thank you!

[@riodiaz-o2b]

lucky me, ran into your page! thank you

[@cannedangel8550]

Thank you for the clarity of your message! very much appreciated.

[@geniahorton]

Had to subscribe! Ma'am. You have just put a stamp of approval on a lot of things. This explanation is very clear and makes me smile. Thank you.

[@EmirJesus1]

Thank you for this video!

[@KarlaDennis]

You are so welcome.

[@HaitianDebutanteTV]

Wow!!! Thank you so much for putting this in lamens terms!!! It was totally digestible and easy to understand.

[@samuelcain9780]

Thank you very much. This was quite informative. ❤

[@KarlaDennis]

You are so welcome!

[@GoodLyricsBaby]

This video was super helpful! Thank you ! Do you think you can create a video of how to fill out an invoice as an independent contractor?

[@DeadlyReaperHD]

how do you document and report the expenses. Like how do you calculate how much of a certain utility was used in a monetary value

[@brunarculacs]

Thanks for the information.

[@RaceForGoodLife]

Thank God for you Karla! I appreciate you posying this info! new subscriber here

[@suzannemagargee6430]

Thank you so much Karla! You gave me so much clarity. Subscribing!

[@dawnsimpson7484]

Thank you so much. This was very helpful.

[@NichoMageras310]

Great video, I'm following you now. Can I deduct something I purchased the previous year if I was preparing for the job I have now?

[@XFiorentti]

Hi Karla...I was recently offered a 1099 contract that will be approximately a 5 year contract and this would be my first 1099 job..here are my questions: 1) Do I need to create an LLC? If so, how do I go about it? 2) How do I take out taxes out of my paycheck? 3) if my husband should be offered a 1099 contract can he and I use the same LLC?

[@Star_Shonda]

I have the same questions did you find any answers yet?

[@steeloink]

you should open an LLC as an independent contractor so you can put all your deductions under that entity. You can even use your own name "FIORENTTI LLC" and be paid there and claim all your expenses against it to lower your income

[@sirwhistler]

How much is the federal tax? I understand the self-employed is 15.3

[@SmoothOperator412]

lol I have put 30,000 miles on my car as a travel nurse this year. Did not know that was deductible. Thank you

[@KarlaDennis]

Yes, absolutely.

[@donnaindigo]

I'm a 1099 nurse, and the taxes are killing me. It is so confusing to do my taxes. I think I'm going to see if I can amend my taxes for at least two years because I misclassified and did not take the proper deductions. Also, I am bad at keeping receipts.

[@KarlaDennis]

We can help and shed some light on your situation. Schedule a time go.karladennis.com/yt_kda

[@MMA_wisdom]

Thank you so much, your information is very helpful.

[@KarlaDennis]

Thank you so much for tuning in. Hopefully you can subscribe : )

[@stargalaxyuniverse761]

Thanks. I am new to this.

[@johnwade6836]

Great video

[@LandersSixkiller]

Thanks for the forecast! 📊 Just a small off-topic question: 😅 I have a set of words 🤷‍♂️. (behave today finger ski upon boy assault summer exhaust beauty stereo over). Not sure how to use them, would appreciate help. 🙏

[@VernetaJohnson]

Thank you. Very informative..

[@EstherJohnson-m1q]

How do I get this form & who can I go to, to do the leg work.

[@hansan7076]

This is the most comprehensible video about 1099 that I’ve watched! Thank you so much! 🙌🏼👏🏼🙏🏽🥰

[@brucebanner6127]

Thank you ma'am! - From a Kitchen Appliance sales guy in California getting paid spiffs (bonuses) direct from manufacturers.

[@deanmuhammad]

Is there any way to reduce commission portion of your w-2 income?

[@ItsFatimah.F]

Great informative video, thanks Karla! Can you recommend a spreadsheet template or APP that can aid in tracking expenses monthly. Additionally, when working from home, what are best practices in tracking expenses to prepare deductions when your office is a room in your home? Can an independent contractor deduct a percentage of mortgage (sq ft of the room) consistently used as a workspace, as well as utilities and trash collection. Might you recommend a spreadsheet template that can assist with calculating such deductions?

[@KarlaDennis]

Hi! These are great questions. We can get into it further and determine what's best for you. Would you be able to provide me with your full name? Here is a link to get started. Thank you!! go.karladennis.com/yt_kda

[@CelideYoneda]

Thanks for the breakdown! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?

[@lizzy4949]

Thank you!!

[@shanai3703]

I have a W2 job as well will these two filings effect each other in anyway?

[@shawntaeb6511]

Thank you! This was incredibly helpful.

[@KarlaDennis]

You're very welcome! Thanks for watching

[@jdmokinawa]

Thank you very much.

[@KarlaDennis]

You're welcome Jeremy !

[@missnicolejlew]

Beautiful video! Very educational. Thank you so much! 👏💰🗂️💕

[@ahmedabulnujum8748]

Nice and professional person God bless her

[@shornnelson9572]

Thank you

[@KarlaDennis]

You're welcome

[@crystalphillips4480]

Thank you❤

[@ЖизньвАмерикеиНеТолько]

Dear Karla, what a great video. Thanks so much!

[@KarlaDennis]

THANK YOU SO MUCH !!! I hope you can subscribe

[@eugenefinkle1573]

Thank you!!!!

[@jodysmuseo]

do the utilities have to be under the business name?

[@othneilstewart]

Can I claim a dependent and get extra money

[@aaronvaughn1954]

Say one's married and files jointly and as of 2023 includes the standard deduction of about 27K. The ind. contractor deductions should certainly surpass this right? And if one is working a side gig business getting a 1099, would one want to consider filing separately? Not sure of the pros and cons.

[@marthaboykin6370]

Very easy to understand.

[@KarlaDennis]

Thank you !

[@sherylbeck8292]

Thank you so very much❤

[@KarlaDennis]

Happy to help. You're very welcome.

[@LoveRunsOver]

This was great! Now I just need to find a 1099 that’s remote in Illinois that will hire me as I’m working for a remote call center and being written up for going to a doctors appt.! I need to set my own hours! Now I know the backside of it, just got to get the front side😂. Thank you😊😊

[@KarlaDennis]

Yes! You can do it,Good luck! and You are welcome.

[@KlaudiaShaefferr]

Great first step to learn about 1099 and taxes. Thank you

[@KarlaDennis]

Glad it was helpful! Thanks for the feedback : )

[@tonyaross3421]

Learned something new and to the point I love it ♥️🙏🏽♥️

[@KarlaDennis]

Thank you for the feedback : )

[@pongop]

This is super helpful! Thank you so much!

[@KarlaDennis]

You're so welcome!

[@darienpinkston7311]

You're awesome

[@komilkhanjarov4818]

Hi, that was very helpful, thank you so much.

[@KarlaDennis]

You're welcome! Thank you.

[@iritzad]

That was valuable information thanks 🎉❤

[@lunamorris2091]

Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.

[@jorgesegura8044]

The edication i got was noone taxing me ever asked for my power of attorney...

[@Danigxxiii]

Thank you, do I have to be paying every quarter I read somewhere that you have to or can I pay when I do my taxes?

[@IPipThePimp]

Thank you for this breakdown. Was recently offered a short contract and this is a first for me.

[@whosZixi]

Thank you so much Karla

[@KarlaDennis]

You are very welcome : )

[@TheJayy420]

Im looking to open a business card Any recommendations for a dasher/ Uber? To keep my expenses seprately

[@evangelinesoucie8545]

Thank you. Unfortunately I’ve made the mistake of using my personal checking account the past 2 years. Is this going to be a issue filing my taxes under a business?

[@KarlaDennis]

Good question! Would need more details. We can connect anytime go.karladennis.com/yt_kda

[@davidburnett8166]

Wish I had known this before I started my 1099 gig.

[@diaryofjasminejordan]

Thank you Karla

[@KarlaDennis]

You are welcome !

[@mati7584]

Dear i if don't have an llc can i still deduct my office?

[@saidtlemcani3189]

Well explained! Thank you.

[@KarlaDennis]

You're welcome!

[@tiamarasmith5763]

I just started a job that does a 1099 what is the first thing you recommend for someone who has never do anything like this?

[@MPR_2023]

The negative of lowering net profit is social security years!

[@trevorsvandrlik9104]

Any info on non-citizens working Stateside on a 1099 while filing in Canada as well?

[@brandonperry2991]

This video made my day ! Appreciate you so much !

[@amwjones1]

I'm looking for a way to track expenses on something like a spreadsheet. Do you have anything like that? Thanks for great information. I am a new business owner.

[@Looseteemusic]

Simply Amazing. Thank You.

[@KarlaDennis]

Glad you enjoyed it! : )

[@waldeckdolce7379]

Great short vid.

[@KarlaDennis]

Thank you for the feedback !

[@ksemmi1810]

Thank you!!!!

[@LaJoBa1]

My wife is a 1099.. Im a full time W-2 employee, we file jointly.. can we claim the 26000 standard deduction and add business expenses also? Turbo tax wants you to choose one or the other? Or would it be beneficial to file separately?