Hello @ErnieS0, thank you for your response. I should have been more clear in my previous question. Since I've been a small business owner for 20 years, I understand that there are additional taxes paid by a business owner. In 2021 (with only a small business), my blended tax rate was 6.1% as shown by TT. In 2022, I continue to operate as a small business and also accepted a full-time W-2 position with another company. My new employer takes out all the necessary taxes on the W-2, so there shouldn't be any new taxes from the employer. Which leaves me wondering why the business taxes and employee taxes combined went from 6.1% to 25%? Keeping in mind that I paid business taxes on roughly the same income of 6.1% the year prior (2021). Why does adding a W-2 job to my business income in 2022, increase my blended tax rate from 6.1% to 25%? The employer already takes out all the necessary taxes on the W-2 and I should be left with paying the additional taxes due from the small business. What am I missing? Any help is appreciated.
