When determining what benefits packages you wish to offer your employees, you may have questions about how to economize your business expenditures while still attracting and retaining the best possible people to your organization. You may have heard about qualified and non-qualified pension plans, but may not understand the differences between the two. This is where talking with an experienced business and taxation lawyer can be advantageous.
With the Tax Cuts and Jobs Act (TCJA) expected to save taxpayers over $1.5 trillion in the next decade, the massive overhaul will likely reduce the tax burden for most American and businesses. However, in any sweeping overhaul, there are certain aspects of the tax code that will be changed to either reduce a tax burden or increase tax revenue. Maryland taxation attorney, Steve Thienel talks about the pros and cons of the new tax bill and how it may affect you and your family.
Now that the Tax Cuts and Jobs Act (TCJA) has passed Congress and signed by the President, many business owners are wondering what the sweeping overhaul of the tax code could mean for their business. The new tax bill represents the largest overhaul of the tax code in decades. In general, the news for businesses is good. From large corporations to small business owners, TCJA could significantly reduce taxes for all businesses.
As a business owner, you will most likely have people working for you at some point in your company’s existence. These workers can either be employees or independent contractors. How they are classified makes a significant impact on their rights and protections. Contrary to what many business owners believe, it is not the title you give that determines whether a person is an employee or independent contractor - it is the working relationship you that you share.