You've probably stared at your tax forms wondering why you're paying what feels like double taxes on the same money. I've had this exact conversation with so many entrepreneurs – even the most successful ones get completely tripped up by this.

Here's what I wish every person who decides to become self-employed knew: you're not paying double taxes. You're paying two completely different taxes that serve entirely different purposes. Once you understand what each one actually does, you can stop overpaying and start making strategic moves that keep more money in your pocket.

Let’s walk through exactly what's happening with your money – and more importantly, how to approach both taxes like the savvy business owner you are.