My past clients include thousands of 4029 exempt based upon religious objection to public insurance.
Talk about unfair... many of them are contractors competing against non exempt.
The 4029 exempt pay no SE tax of roughly 15% on themselves or their employees.
They pay no workman’s comp insurance which is usually around 30% in the roofing trades.
They don’t pay unemployment insurance.
They don’t pay health insurance. They were even exempt from Obamacare.
The end result is that they have a huge unfair advantage over any non exempt contractors.
It was ok when they worked on their farms, but most have now entered the trades.
What are “4029 exempt” persons, and why are they exempt?