Tax Rates and the Changing Landscape for Business Owners

Mike Lomas and Glenn Wiggle are back and joined by guest Chris Fabian. Discussing topics from the classification of independent contractors to taxation policies and voter integrity. The episode provided valuable insights into the challenges and consequences associated with these crucial issues. The hosts explored the potential reclassification of 1099 subcontractors as employees, emphasizing the importance of preserving freedom and independence for those engaged in the gig economy. The conversation extended to local taxation policies, exemplified by the vacancy tax in San Francisco and the significance of strategic planning in communities like Jupiter, Florida. Additionally, the discussion covered the new Beneficial Owner’s Information Report requirement and concerns about potential changes to tax rates, especially in the context of small and medium-sized businesses. The hosts also delved into the critical issue of voter integrity, highlighting the need for fair and secure elections, particularly in swing states like Arizona.

(00:01:32) The Gray Area of Independent Contractors

(00:03:36) Reclassification of 1099 subcontractors as employees

(00:05:09) High vacancy rates and the San Francisco vacancy tax

(00:07:00) Effective planning and management for thriving businesses

(00:09:08) Transparency and accountability in business ownership

(00:10:44) Tax Rates and the Impact on Business Owners

(00:12:04) Tax Cuts for Struggling Small Business Owners

(00:23:17) Vanishing online records after 2020

(00:31:07) The Self-Serving Nature of Politics

(00:33:06) Protecting Electoral Processes in Arizona


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