Pass Through Entities, Be Your Own Boss! – click the link for the full article
” The 20 percent pass-through deduction in the new tax law could provide a major benefit for self-employed, but there are also some important caveats.
“Getting a 20 percent reduction off your business income for individuals who are either sole proprietors, or if they are self-incorporated and have business income that is below the threshold of the specified service of $157,500, or $315,000 if they’re married, is going to be quite an incentive for people to want to be independent contractors and freelancers,” said MBO Partners CEO Gene Zaino, whose firm provides technology for self-employed professionals. ”
Right now is the perfect time to learn a trade and go out on your own, the economy is strong and there are tax incentives!