October 31, 2011
Joseph Perry, Partner-in-Charge, Tax & Business Services, Featured in the New Jersey Business Journal Article "Small-Business Owners may be Snared in Bid to Hike Taxes"
By Martin Daks
In the article Mr. Perry said, "And when the tax code changes, there are no blanket "right" or "wrong" steps to take."
Additionally, Mr. Perry said, "We can expect some increase for individuals, and a possible reduction in corporate rates, but business owners have to weigh the effects of a switch to a C-corporation, since they may be subject to double taxation, once at the corporate level, then at the personal level, and they may have to meet 'reasonable compensation' and other tests as a C-corporation."