Small Business Owner - Independent Contractors - can you believe it?! A Tax Code Reform that may help us out.
New 20 percent deduction for passthrough businesses
Many owners of sole proprietorships, partnerships, trusts and S corporations can deduct up to 20 percent of their qualified business income.
With pre-planning you may be able to take advantage of this new reform. Check with your tax adviser or accountant to see if this deduction may be put to work for you. https://www.irs.gov/tax-reform