Worker Misclassification Changes Are Resurfacing
The federal government is again working on final changes to its independent contractor guidelines. Getting this sticky area wrong can hold dire consequences with potential litigation, fines, fees, and, of course, back taxes. Employee classification can be a fast-changing, confusing area of business and tax law—especially if you hire workers across state lines. The rule […]
Investment Losses and Tax-Loss Harvesting
You win some, you lose some—that’s the nature of investing. But when it comes to paying taxes, you might be able to turn an investment loss into a tax win through tax-loss harvesting. It’s certainly a volatile time for investing. U.S. stocks and bonds were down in the same year at the same time, which […]
New Domestic Filing Exception (DFE) for Partnerships & S Corps
New instructions for schedules K-2 and K-3 are out. The big change is a Domestic Filing Exception (DFE) that, in theory, makes it easier to file if all partners/owners qualify. The DFE is designed to reduce the complexity and time associated with preparing and filing Form 1065 for partnerships and Form 1120-S for S Corps. […]