Freelancing New Tax Break

A New Tax Break Could Save Freelancers Hundreds This Year. Here’s What You Need to Know

Freelancer Taxes

This spring, taxpayers will file their first returns since Congress overhauled the tax code a little over a year ago. Freelancers could find a lot to cheer. One of the 2017 Tax Cuts and Jobs Act’s biggest perks is a new 20% deduction on so-called pass-through, or qualified business, income available to anyone who is the owner of an LLC or an S corporation, a partner, a sole proprietor, or a gig-economy worker. The deduction, which is available even to workers who also take the standard deduction, means a single freelancer with no kids making $50,000 […]

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