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Self employed
Thanks for the reply, so in short, I will always have to pay the 15.3% Self-Employment tax no matter what, correct? Also, I don't plan on going back or living in the USA, that's why I'm confused on the federal taxes since I'm not even there anymore, I live in Brazil atm and plan on travelling the world, would opening an international company and have the company I work for pay me through there remove me from the 1099, or possibly the self employment tax, because in Brazil its 27% on yearly income non company, and about 8% for a company... so all things considered Id have to pay the 15.3% + the 8% here? I make aprox 70k yearly, so that would be basically 20k only in taxes.. I plan on leaving Brazil to not pay taxes here and have a company in a tax free zone, I also saw something about opening an S Corp, would that eliminate the 15.3% Self-Employment tax?