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Getting paid by 1099 might sound simple—but it could be quietly costing you thousands of dollars every year in unnecessary taxes.
In this video, Dave Horwedel, CEO of Torchlight Tax, explains:
When you technically should be paid by 1099
Why the technical answer is often the wrong financial answer
How self-employment tax really works (and why it’s so expensive)
The hidden 15.3% self-employment tax many contractors overlook
How S corporations can dramatically reduce tax liability
When switching from W-2 to 1099 can actually hurt you
Why “reasonable compensation” matters for S corp owners
If you’re a 1099 contractor, freelancer, consultant, or business owner—or if your employer is switching you from W-2 to 1099—this video could save you $10,000 or more in taxes if structured correctly.
📌 Key takeaway:
The real issue isn’t whether you can be paid by 1099—it’s whether you’re structured in a way that minimizes taxes legally.
📞 Get a Free Consultation
Have questions about 1099 income, S corporations, or payroll taxes?
Call 877-758-7797 or email info@torchlighttax.com
for a free consultation.
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Torchlight Tax has 400+ tax-saving and asset-protection articles and videos available on our website and YouTube channel.
The more you know, the more taxes you can save—and the safer your assets will be.
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Disclaimer:
This video is for educational purposes only and does not constitute legal or tax advice. Consult a qualified tax professional regarding your specific situation.