Here’s some good news if you use truly independent contractors to perform work. If you have done it right, you don’t have to worry about losing an age discrimination lawsuit. But there’s a caveat: You must make sure you can easily prove your contractor wasn’t really an employee.
Small Business Tax
Section 179 vehicles should be a key part of your small business tax deduction strategies. Can Section 179 property fit in with your business tax strategies?
Let Business Management Daily help you get each and every rental property depreciation credit and business tax deduction you’re entitled to.
Q. If I buy gold as an inflation hedge, will I qualify for low-taxed capital gain if I sell it after one year?
Q. I’m selling my home on the installment basis. Does this qualify for the home sale exclusion?
How do you account for gambling wins and losses at a casino? A new Tax Court decision represents a victory for casual gamblers because it says they can determine their net win or net loss at the end of each gambling session. In contrast, the IRS has historically made the argument that a win or loss must be recorded after each slot machine pull or roll of the dice.
The alternative minimum tax (AMT) doesn’t appear to be going away anytime soon. According to one estimate, the number of individuals paying the AMT in 2010 could jump to more than 30 million. Strategy: Determine if you could be hit by this “stealth tax” for the first time this year. In particular, investors may be blindsided. Here are five prime examples: