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Self-employed? Take smarter deductions

from The Huffington Post

Taking business deductions creates two problems for the self-employed: Deductions encourage self-employed workers to compete in "a race to the bottom." Self-employed try to earn the least money possible in order to pay as little as possible towards Social Security and Medicare taxes. Instead of focusing on growing their business, they fixate on keeping it in check by spending more and thus, earning less. Yet, it's in the interests of our social security system for the government to encourage self-employed to earn more money. In fact, it's in the best interests of all Americans to help self-employed businesses survive and thrive. That's why Nancy K. Humphreys proposes a "No-Cost Tax Break for Self-Employed." more

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