Oh, if I get a small office or co-working space close to my current W2 job, could I then use my drive from home to the secondary office as a tax deductible event?

Can I allocate the excess contribution to 2023? If not, is there another option for correcting, reallocating without penalties?

We need to know what's honest and legal in our tax deduction strategy.

If you think it'd be better or make sense for me, be paid as a 1099 independent contractor.

Welcome, everybody, to this week's episode of the Main Street Business Podcast.

My name is Mark Kohler coming you from the tundra of the Arctic.

If you're watching on YouTube, you can see the background.

Matt Sorensen, apparently in the summer, somewhere with his background. You look great, Matt. of the Arctic if you're watching on YouTube you can see the background matt sorenson

apparently in the summer somewhere with his background you look great matt yeah there's snow

in the mountains back there there's some frosted mountains back there maybe those are clouds i don't know

but uh hey this is the holiday edition of the mainst your business podcast end of the year forum, lots of great tax and business questions that we have. Remember, you can go to Mainstreetbusinesspodcast.com to put in questions for the episode. This is your show. We're talking about what you want. We've got lots of great questions in here. And we'll see if we've got some good answers. Yeah, we'll do our best.

Okay, we're going to hit because year-end tax strategies are the most critical, typically.

We're going to jump right over there.

We've had a number of questions flying this week.

So let's do it. We just covered a show on auto deduction, a live broadcast.

But we've got one here on the website as well.

So let's hit it.

Let's kind of get the ball rolling here.

The question is from Presto Erickson says,

I am a W2 employee with a 1099 sole prop as a side hustle.

Love it, Presto.

Millions of Americans making it happen with a side hustle.

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