Business
It is imperative that small businesses are both careful and thorough in their tax analysis before they classify their workers as either employees or independent contractors. Because the stakes are exceedingly high, and the IRS is aggressive and proactive when it comes to worker misclassification audits of small businesses. So, today, Einstein's Theory of Taxability focuses on just what steps all small businesses should take to ensure they've done their due diligence in properly classifying their workers--on the front end, before a problem arises. But if a problem does arise, and the IRS comes calling, there may be hope if the business can qualify for what is called "Section 530" relief. The specific requirements for Section 530 eligibility are discussed. If you've enjoyed the podcast, please leave a rating and review on Apple Podcasts or wherever you get your favorite podcasts. You can learn more about DPS Legal Counsel at its website: https://dpslegalcounsel.com Again, thanks for listening!