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2025-01-16 00:22
Taxes are your biggest expense. Here are 9 tax strategies W-2 employees can use to pay less taxes in 2025:
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The Money Cruncher, CPA
themoneycruncher
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Chuck Nance
_mortgage_guy
Here’s one for @themoneycruncher - Most states now require us as professional licensed loan officers to be W-2’d employees, eliminating the opportunity to get paid 1099, thus limiting what can be done with unreimbursed employee expenses. The question is can I collect and report my W-2 income on the 1040, and use my PLLC to account for my expenses of doing business as a loan officer? There is an opportunity that my PLLC would show occasional revenue from a commercial or hard money, but not much.