by apexcpas | Jul 4, 2018 | Tax Planning
A big issue facing business owners today is determining if an individual should be hired as an employee or as an independent contractor. The government does not take this issue lightly. Misclassifying workers as independent contractors can result in large, unexpected...
by apexcpas | Jul 4, 2018 | Tax Planning
Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar...
by apexcpas | Jul 4, 2018 | Tax Planning
The federal government is expanding its crackdown on offshore tax evasion and preparing numerous criminal cases against suspected offenders. It has been four years since the agreement between the United States and Switzerland pierced a veil of banking secrecy by...
by apexcpas | Jul 4, 2018 | Tax Planning
If you are as concerned about the financial implications of the recent tax law changes as the majority of our clients are, then I hope you take a few minutes to read over our summary of the significant developments of the American Taxpayer Relief Act. Congress has...
by apexcpas | Jul 4, 2018 | Tax Planning
Previously Illinois created the Small Business Jobs Creation Tax Credit that was a pilot program created to help reverse the trend of high unemployment in Illinois and to help spur the economy to recovery, by assisting and encouraging small businesses in the creation...
by apexcpas | Jul 4, 2018 | Tax Planning
Rumors are circulating that all real estate transactions, including sales of personal residences, will be subject to a new 3.8 percent federal sales tax beginning in 2013. These rumors are false. The rumors resurfaced after the Supreme Court upheld the...