1099 Tax question: Expenses

But on 1099 you can write off thousands of $$ yearly, per diem, any work related expenses and ect and then pay that 7.5% On w2 you cant even write off per diem now. You can buy health insurance through obamacare. It costs me the same amount my employer deducts from my paycheck i mean so called "benefit". Yes no vacation, pto, sick days.. but in the end i have much more $ left on my bank account working on 1099.

 

By your own admission your W2 taxes and your 1099 taxes are virtually the same. Supposedly 22% vs 13%+7.5%=20.5%. So where is this "much more $" coming from??

Stuff falling off the truck? lol

If your taxes are only 22% (and 15% of THAT is SS/FICA), you arent making that much that you are "writing off" a hell of a lot.

 

Have you heard about per diem? If you on 1099 you can legally write off 69$ per day. Let's say you worked 250 days this year. 250×69=17250$ you can write off from your gross income. On W2 you are not allowed to write off per diem.
By the way you should know business and personal income taxes differently. Personal pays more. W2 is 100% personal income.