Who pays more taxes, a W2 employee or an Independent Contractor?

Описание к видео Who pays more taxes, a W2 employee or an Independent Contractor?

During tax time, it’s usually W2 employees who get refunds while the self employed and independent contractors have to pay?

Why is that?

The answer is simple, because of withholdings.

W2 employees are required to have withholdings from their paycheck, and as long as they had the right amount of withholdings they’ll get a refund!

While the self employed and independent contractors have zero or little to no withholdings, meaning they’ll have to write a check to Uncle Sam at tax time!

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