Is The Pass-Through For You?
A Primer On The New Deduction For Freelancers
Tax season is never a dull moment for freelancers. And this year brings a particularly notable new wrinkle: the 20 percent pass-through deduction for small businesses that was included in the 2017 tax reform bill. Like many tax rules, this deduction is a little more complex than it sounds at first. So before you get your hopes up, let’s take a closer look at the potential savings for writers for hire.
First, keep in mind that the new...