8. Worker Classifications – There are several incentives for employers to classify workers as independent contractors instead of employees. Mainly, an employer isn’t responsible for payroll taxes or fringe benefits for outside contractors. This has been an on-going issue for decades, but now the IRS intends to tighten up compliance of the rules.
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- Changes to 2018 Taxes
- New 20 percent deduction for passthrough businesses Many owners of sole proprietorships, partnerships, trusts and S corporations can deduct up to 20 percent of their qualified business income.
- When To Expect Your W-2, 1099 & More Tax Forms In 2017 (And What To Do If They’re Missing)
- Ready for Tax Season?
- Accio! Harry Potter Star Rupert Grint Hopes To Summon £1m Tax Refund – Forbes
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