How Much the IRS Fined me for Working 2 Remote Jobs

This title is misleading. You weren’t “fined” by the IRS for working two jobs. You simply didn’t withhold enough or save any of your earnings. You made it seem like you have to pay extra for cause you had the second job which is not the case. If you had one single job on a 1099 you would’ve still owed at tax season since your getting a hundred percent of the check.

Bro lol taxes are a thing

I'm late to this, but maybe I'm misssing something and I haven't read all the comments below. But the video thumbnail says $500,000 salary and you only had to pay $85K in taxes?? Unless the $500K was an exaggeration to get people to click on the video, seems like you came out pretty good!

This has nothing do with overemployed....it has to do with poor tax planning...even if you didn't overemploy you would need to pay taxes on the 1099 job

The IRS didn't "fine" you for "getting caught", you made more money and are now in a higher tax bracket. They could care less how you make your money as long as they get their cut!

I couldn't help but laughing my a.. off… when he mentioned "after some prayer and ... some meditation." 😂😂😂

Question is how much did you make before taxes at those two jobs?

The IRS didnt "catch you" working 2 remote jobs. That's not illegal. They dont care, they just want you to pay your taxes.

So the IRS didn't fine him, they just asked for the normal 1099 tax. Misleading video title that makes it sound like its illegal to work 2 jobs.

Fucking clickbait. He didn't get fined. He just didn't realize he needs to pay more taxes... sigh

Lol Welcome to America

This hurts so much to listen to. Bro just needed a 5 min video about working for yourself. You gotta itemize and deduct those expenses.

I'm surprised that the company that hired you did not tell you that you were on 1099 and that you were responsible for your own taxes. It's not that you were "caught" but were not properly informed on your type of employment. As for stealing, that's iffy if you were working on Salary for both positions and you did not notify your current employer that you were working the other position. But it did take a position from someone else that might have needed it. But if you are working a side hustle, the same can be said about that as well. So again, that's a gray zone. Selfish maybe, immoral possibly (with working overlapping hours) but not illegal. But as you found out, the IRS took more money out of you then was worth the effort. You probably should have opened up a retirement account of some kind as a contractor and stuffed more money in to your 401K in your original job to lessen the tax impact.

You paid 58k but how much you made it? or do you though it's fucking tax-free?

I swear they don't want us to win at all yet everything is so high and they won't fix SHIT. A study came out and people are juggling 2 or 3 side hustles.

You should of deducted everything you used at home to run the business including the food you bought, electricity bill, monthly rent or mortgage, computer equipment, and furniture etc.

Now that you've been through this experience, knowing what you now know about 1099, you can see about doing 1099 for both jobs and taking advantage of the tax breaks!
You know to pay the taxes now, so I see you as someone who learned a valuable lesson and became better for it. For any haters out there, this man took a bold risk, made his mistake, learned, and has graciously offered to share for us to learn (and enjoy too). This takes courage among other things.
Respect goes out to Just Notified!

Side thing: If you're working 1099, perhaps you can set aside 15.3% for taxes, and put that money in a savings account to make some extra money on an "interest-free loan". Just pay the taxes on time and you're good. This may need to be done quarterly. (Idk this biz stuff, but trying to learn).

Yeah but how much money DID you actually earn?

how to contact you?

Well, I don't blame you for wanting to make more money, if you can, do it we're all trying to make some extra cash. Haters always are going to hate. Very nice video.

this video makes no sense he said he made $500,000 salary. I think you owe more

Second company set you up at least they could
Have explained the possibilities of what could happen

Dude, you did not setup tax withdrawl...YES you would owe the taxes on that. I have 3 jobs and max my tax taken out.

Yeah, but what was your total income? $87k of taxes may not be a large amount amount

You are I are the perfect gov't slaves.

How does this happen? Are these not W2 employers?

irs =😈+fed👿= poverty+pain+criminality = solution ❤FAIR TAX❤

Brother, Brother, Brother🤦‍♂️

but you made more money in the end.

Was most of the $56k fines & penalties for not paying your quarterly taxes?

I have a question How do you get companies to work for?

F.A.N.G.:
Facebook
Amazon
Apple
Netflix
Google

"...A 6 figure income so
I had to do it..."
That mentality is how
we've gotten ourselves
into this chaotic mess
in the first place. You
signed your name in blood

Uncle Sam is the biggest pimp there is...he gonna get his cut!

If you don't work a federal or government job nor live in D.C. or it's owned territories there is no law that requires you to pay anything, people better read the details and definitions on the first site and wake up. 😅😅lmao

With 1099 jobs, you need to take 50% of what you earn aside for taxes, which you should pay quarterly. You will need to pay 100% of the social security tax with a 1099 vs half with a W2 since employers pay for some of that. The upside is you can write off your home office, mileage and other tax breaks that work class people were robbed of.

Everyone's taxes should go toward themselves! I'm so tired of working 5-6 months for free just to take care of other people

You say you didn’t achieve a lot ? Man! 8 months and you got a house , a bar , savings a rents property! That’s more than some people achieve in their website life ! I admire your dedication and honesty! Wish I could do this too soon!

Where I live they take 55% of my gross salary. It’s so painful to see a 16k cut to a 7,5 k on your bank account 😢 first one is a good living , even for a family the 7,5k is just enough to have roof over head and some food. Nothing more . So like a vegetation 😢 it’s just so demotivating. Last year I got a bonus , bacillary worth 1 additional monthly salary. Taxes took 98% of it and I was left with something close to a 50$ which is a tiny daily groceries.

Brother you never own anything in this society. Buying a house is still renting

Thanks for putting every body up on game Bruh 👍

The irs just wants their cut (so annoying). Great content for those working on 1099, C2C

You’re the Guy that created all that buzz about working 2 jobs??? Wow, ahaha.

I’m late. But yeah. I think Dave was too harsh. And I feel the same. I’m only productive for a portion of my time. But I have to be in the office.

Now if you over employ yourself working as a contractor for the state government you actually can get into trouble

How did you not know this? Why did you not set up a sole prop, set up a sole 401k and write off all of your expenses? You didn’t investigate anything about a 1099 employment. Don’t lie to people about an IRS fine which is incorrect.

Thanks Democrats

You should create a small LLC and have the money go to the LLC instead of you as an individual. Youbwould pay less in this way.

Draft kings will only empty your account

fed wagies mmake six figues, politicians, ukraine, illegal aliens and their 6 kids . they live goood life and who pay for that? u