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Technology and Biosciences Articles

 

Ensure Compliance When Hiring an Independent Contractor

Ensure Compliance When Hiring an Independent Contractor

Posted by Kyle Januszkiewicz on May 19, 2025

Correctly classifying workers as either employees or independent contractors is crucial to avoid costly consequences such as audits, back taxes, penalties, and lawsuits. Guidance is provided on understanding worker classification, the implications of misclassification, and the cautious use of Form SS-8 to request IRS determinations.

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Tax Implications of Business Succession

Tax Implications of Business Succession

Posted by Cheryl A. Jankowski on March 17, 2025

The strategies for transferring business ownership include family transfers, trusts, employee buyouts, ESOPs, and sales to outside buyers. Each option is analyzed for its tax consequences, such as gift tax, estate tax, capital gains tax, and corporate deductions, providing a comprehensive guide to succession planning.

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