A provision in the new tax law allows sole proprietors — along with owners of partnerships or other pass-through entities — to deduct 20 percent of their revenue from their taxable income. The new tax law is likely to accelerate a hotly disputed trend in the U.S. economy by rewarding workers who sever formal relationships with their employers and become contractors. Management consultants soon may strike out on their own, and stockbrokers may hang out their own shingle. Read more……
