Image purchased from Adobe Stock. My ability to write off my stock photography subscription would be eliminated under the current tax reform.
You guys, I am scared to death that the Senate tax reform is going to become law.
Before I go into why, a disclaimer: I am totally not a political person and I am not posting this to bring up anything about either party. In this article, I’m putting aside the ACA inclusion, the wins for big business, and other factors included in the proposal to focus solely on the concerns of small business owners, indie authors included.
At issue is the fact that small businesses – sole proprietors like myself, LLCs, S-corps and partnerships – are what is called “flow through” or “pass through” businesses. This means that I don’t pay taxes as Lawson Gartner Publishing, even though that is my company. My business taxes pass through…
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