This year, I'm writing a check for nearly 50% of what I earned in 2020. I have it saved up in account, and I'm paying it in one lump sum to the government. It's a fucking brutal check. Imagine having 50% of your total yearly earnings in a bank account you have to give away.
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The Feds are still getting their cut. I think the issue likely stems more from the fact that she has to pay self-employment tax.
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yeah self-employment tax is the real killer :(
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