New US tax law offers carrot to gig workers
Provision allows sole proprietors - along with owners of partnerships or other pass-through entities - to deduct 20 per cent of their revenue from their taxable income
New York
THE new tax law is likely to accelerate a hotly disputed trend in the US economy by rewarding workers who sever formal relationships with their employers and become contractors.
Management consultants may soon strike out on their own, and stockbrokers may hang out their own shingle.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Abu Dhabi’s IHC to buy back up to US$1.4 billion of its shares
Dubai’s financial centre expects ‘busiest year’ as firms rush in
Israel strikes Gaza city of Rafah after evacuation order
Britain's King Charles III marks first anniversary of coronation
German deficit forecast at 1.75% in 2024, says stability council
SNP veteran John Swinney set to be Scotland’s next leader