Indian High Earners Shift to Consulting for Tax Savings

Imagine you can choose how to pay taxes, like choosing between two different paths.

In India, some people who make a lot of money are choosing to become consultants instead of having regular jobs.

This is because consultants can subtract money they spend on their work, like rent or equipment, before paying taxes.

Regular employees can't do this as much.

So, if a consultant makes the same amount of money as someone with a job, the consultant might pay much less in taxes.

Even though being a consultant might not offer the same benefits as a job, like paid time off or retirement savings, the tax savings can be so big that many people are making the switch.