Personal Finance

Previously, tax professionals pondered whether enterprising employees could leave their jobs, start their own business, and be rehired by their old company as independent contractors. This way, these new entrepreneurs could qualify for the 20 percent deduction. The IRS also put the kibosh on that. “If you worked for the employer and became an independent
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“It’s hard to do these types of big-dollar transactions under the best of circumstances,” said J.R. Lanis, a partner at the Los Angeles office of national law firm Drinker Biddle. “If you bring in smaller investors, it’s a coordination nightmare.” Generally speaking, private companies are allowed to have up to 2,000 regular shareholders without triggering
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