Russell Fox offers some tax preparation tips to small business owners. He owns Clayton Financial & Tax in Las Vegas and is the author of a newly published book, Tax Strategies for the Small Business Owner.
The IRS and the Department of Labor are running a new small business crackdown on owners who misclassify employees as independent contractors, says Fox Business News.
Section 1031 is a useful section of the tax code that allows a taxpayer to defer taxable gains on a property by using it as an exchange rather than a simple sale.
1031 tax deferred exchanges and franchises have more in common than may you think. Generating cash flow is king while saving tax dollars is a close second. Over the past couple of years, I have accommodated exchanges for owners of franchises.
