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Deductions & credits
You would be self employed and they would be paying you for your services. That would be a deduction for them assuming that your services performed a real function for their business. You would pay 15.3 percent of that income as self employment tax in addition to any regular income tax owed. Be sure that your activity is a legitimate business relationship and not a scheme to transfer money to you in a way that benefits their tax situation.
‎November 20, 2022
9:23 PM