Hello Everyone!
First post here, and glad to meet everyone. I will jump right into it.
In true mustachian fasion, I live about 1/4 mile from my primary place of work. However, I have held on to an old job as afterwork activity two nights a week.
This requires me to commute 43 miles (round trip) with a vehicle that gets roughly 25 MPG(about $51 per month). The monthly income from this is usually $350. It is something I do to help people out, and less about making large amounts of money.
The problem here comes in the form of how I am paid. I am a basic employee and get a W2, but everything I am paid is considered commission. Meaning I have to pay the full amount of taxes on the wages, as the employer pays none in this situation. I had a personal friend advise I work as a contractor and get a 1099, thus being able to write off the vehicle expenses every year.
My question is: What possible changes could I make with the accountant of the business to be able to save the most money in this situation?
Thanks all!
