Too much profit? Watch out for the tax-avoidance trap
February 25, 2021 Ask Gary is a series detailing owner-operator business challenges and how operators can navigate toward success. Gary Buchs, a former Owner-Operator of the Year, spent 17 years as an independent contractor at Landstar before retiring in 2019. He now coaches owner-operators and also hosts the Truck Business Forum group on Facebook. Buchs can be reached at truck.biz.coach@gmail.com. The situation: An owner-operator who had a solid year and turned a strong profit has found a tax preparer who told her she has “too much profit.” The preparer said she needs to find ways to s...
Source: overdriveonline.com