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Comment by kelvinjps10 | Hacker News Reader

Being pro businesses, it's only available for big corporations because as a self-employed, it's close to 30%.

I'm SE and there are quite a few tax breaks available, especially if you structure as a S-Corp. The hard part is figuring out what all tax breaks are available as they're constantly changing, like last year you can deduct dental insurance premiums.

I still pay an eye watering amount, and being SE shows you the brutality of the system (estimated taxes are insane, especially the payment schedule for them when you're NET 30/60).

> estimated taxes are insane, especially the payment schedule for them when you're NET 30/60

Total layman understanding here, but can you not do cash basis plus schedule AI?

Kinda, for Q2 and Q3 you're expected to pay the full amount for the quarter about a month or so before it ends. So it's less the accounting method kinda and more I haven't been paid for a month that I already owe taxes for.

The periods aren't quite quarterly though. "Q2" ends on 5/31 and tax due 6/15, "Q3" ends on 8/31 and tax due 9/15. IIUC.

(I'm certainly not trying to argue that doing taxes 5 times a year isn't fucking onerous, though!)

> it's only available for big corporations because as a self-employed, it's close to 30%.

Well maybe instead of complaining you should simply just generate more economic value. If Meta disappeared tomorrow it would hit the US economy, if you disappeared tomorrow it wouldn’t even be noticeable in the stock market.

Sorry that’s a horrible take. Basically you are embracing “too big to fail”.

It’s more like “might makes right” I think, and it’s not really me embracing it, as much as realizing this is the ideology of our ruling elites and they aren’t afraid to be frank about it anymore.

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