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View All NewsNew tax law may entice independent contractors (The New York Times)
January 02, 2018
The new tax law may accelerate a trend in the American economy by rewarding workers who sever formal relationships with their employers and become contractors, The New York Times reported. A provision in the tax law allows sole proprietors — along with owners of partnerships or other so-called pass-through entities — to deduct 20% of their revenue from their taxable income. The tax savings may entice workers and make them less likely to complain about their independent contractor status.