Qualified Income Deduction for Passthrough Business We have seen a lot of press recently about the IRS proposal on 8/18/18 for a new provision that allows passthrough businesses (sole proprietorships, partnerships, trusts, and S corporations) to...
Read MoreAdverse Effects of New Tax Law – Retailers and Restaurant Owners
Adverse Effects of New Tax Law A drafting error has been discovered in the new tax law that may adversely affect retailers and restaurant owners planning improvements. Under the new tax law, the tax burden for building improvements has...
Read MoreMonitoring Your Outsourced Payroll Duties – A Video From the IRS
What is a 1099 Employee?
What is a 1099 Employee? A 1099 Employee is someone who receives a 1099 from their employer instead of a W2. A 1099 Employee is considered a subcontractor instead of an employee. This person is not entitled to the benefits of an employee. Any...
Read MoreFIVE TIPS FOR STARTING A NEW BUSINESS
FIVE TAX TIPS FOR STARTING A NEW BUSINESS When starting a new business, you may find the following tax tips helpful: 1. Business Structure: An early choice to make is to decide on the type of structure for the business. The most common types are...
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