Small businesses in Georgia and throughout the country can be subject to income, payroll and other types of taxes. For instance, a corporate entity may pay a tax rate of up to 21% on their profits for the year. Companies that are structured as pass-through entities...
The U.S. Supreme Court has just overturned a long-term precedent in a case involving two companies in bankruptcy. One was a parent corporation and the other was a subsidiary. They had no agreement to allocate the taxes in any particular way. Who owns the $4 million...
The gig economy is booming. Freelancers and independent contractors are rapidly gaining ground in the workforce. In 2015 there were 3.2 million Americans worked in the gig economy. Some research projects that this category of workers will make up 43 percent of the...
The new GOP tax bill has been making headlines for weeks. The relative pros and cons of the bill have been a subject of heated debate in Washington. For the passive onlooker, it can all be a bit too much to make sense of.However, a new proposal has been added to the...
Have you ever heard someone say you can't legislate morality?Try to determine who first said that and you might find yourself running in circles. An internet search isn't particularly fruitful. Former pro wrestler and politician Jesse Ventura is credited with having...
The current president of the United States has a major reputation for the way he practices the art of the deal. He even has a book by that title. In it, Donald Trump offers a list of tactics that he says have stood him in good stead at various bargaining tables. These...
In recent posts, we have focused attention on how government is helping Georgia residents recover in the wake of Tropical Storm Irma. First, there were pledges of help. Since then, agencies at the state and federal levels have started to make good on the promises and...
The corporate business form is complicated, but incredibly useful for many types of business. Structuring a corporation can be complicated, of course, but when it comes to the way the business is taxed, there are two basic options.The default option is the...
Tax filing issues are often problematic for small business owners. This is often due to the simple fact that they have not kept up to date on current tax laws. One issue that can be particularly troublesome is business deductions.Business deductions must be valid, and...
Previously, we began looking at the issue of worker classification and the costs employers can face when they make mistakes in this area. As we noted, employers who misclassify workers may end up having to pay taxes twice if they are unable to provide proof that an...
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