Paychex THRIVE, a Business Podcast
Business
A Permanent Pass-Through Tax Deduction? Will DOL Dampen Freelancing? NC Requires Cash?
The tax deduction that pass-through businesses have been enjoying is set to expire in 2025, but Congress is proposing it become permanent. Gene Marks comments on the significance of that 20% deduction, as well as gives a thumbs-down to the DOL for trying to curtail independent contractors, of which 80% surveyed said they felt more economically secure with multiple sources of income. Marks also looks at a potential ban on fees for customers in North Carolina paying cash. Listen to the episode.
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The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
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