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But are they W2 wages? Or 1099s?It's a lot tougher to use those loopholes when most of your income is W-2 wages, though. Plenty of available shenanigans to shield business income, real estate income, investment income, etc. But W-2 wages are very hard to offset.
There are still lots of deductions for out of pocket unreimbursed expenses to help offset all the agents' fees, other professional advisors, etc. that I think can be used either way. So I think that effective rate could certainly be improved upon.