@miketothed wrote:
Would i also benefit from the 20% automatic deduction as a 1099/sole proprietor associated with the new tax laws?
Perhaps, but there are exceptions, one of which is set forth below:
An SSTB is a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees or owners.
Also, see the IRS web site (link below) for more information.
https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-i...
