Given the changes to the corporate tax rate and qualified business income deduction, you may be contemplating whether it would be beneficial to change your business structure to minimize tax liability. The recent changes under the newly passed Tax Cuts and Jobs Act have reduced the corporate tax rate to 21% effective 1/1/18 and will […]
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As the IRS continues to focus on worker classification, it has become increasingly important that eligible businesses take precautionary steps to ensure compliance with Section 530 to avoid a costly reclassification. Section 530 of the Revenue Act of 1978 (not part of the Internal Revenue Code) allows the business to treat a worker as an […]