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Category: Profit Margins

Determining Independent Contractor or Employee Status

According to a study by Intuit Inc., by 2020 40% of American workers will be independent contractors. This employment trend is what is known as the gig economy. This free market system is a significant departure from traditional work arrangements. When employers leverage independent contractors, they save on the cost of benefits, office space, taxes, […]

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IRS Releases Final Regulations under Section 199, Creating Safe Harbor Rules for Rental Real Estate

The Treasury Department and IRS have issued much needed final regulations and guidance addressing implementation of the new qualified business income (QBI) deduction. The QBI deduction was arguably one of the more complicated changes to come out of the TCJA. Through QBI, eligible businesses have the potential to reduce their tax bills. Part of the […]

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Defining and Guiding Qualified Opportunity Zones

Opportunity Zones allow Americans to combine their patriotism with their love of tax breaks.  The Opportunity Zone Provision gives taxpayers who have invested in the sale or exchange of a property in a Qualified Opportunity Zone Fund (QOZF) the opportunity to elect or defer paying taxes on the capital gains until they sell their investment. […]

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How to Avoid Being Targeted for an Audit

Tax audit. These two simple words are enough to strike fear and loathing into the hearts of many business owners. But, in reality, the Internal Revenue Service (IRS) won’t arbitrarily make your company the subject of an audit investigation. In fact, according to IRS.gov, out of the 196 million returns filed in 2016, only 1.1 […]

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Deterring, Detecting, and Reacting to Internal Fraud

Surprising but true, small and mid-sized businesses are more susceptible to and crippled by fraud when compared to larger organizations that have more resources to invest in anti-fraud initiatives. The Association of Certified Fraud Examiners recently published its 10th annual report to the nations. The largest global study on occupational fraud, the publication highlights 2,690 […]

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