[af_vet_1981]

AI Overview

For a small business or pass-through entity (like an LLC or sole proprietorship) with $135,000 in net business income in New York for 2025, the business itself does not pay a flat corporate income tax. Instead, the $135,000 "passes through" to your personal tax return, where you will owe federal income tax, self-employment tax (approx. 15.3% for Social Security and Medicare on net earnings), and New York State personal income tax (ranging from 4.0% to 5.97% for this income tier). Total combined federal, state, and self-employment taxes typically consume roughly 30% to 38% ($40,000 to $51,000) of that amount, depending on deductions.

[BradyLS]

Modest beginnings at 18! And zero debt!

[Repealthe17thAmendment]

He definitely needs some accounting advice to make sure he maximizes his deductions. It’s very easy to pay more taxes than you have to. Establishing an LLC and being an employee rather than a sole proprietor could be very helpful.

[AbolishCSEU]

Yep. Ask me how i know. And yes you can do an S corp. Choose your poison.