The President and Congress have spent the last year seeking to advance an activist regulatory agenda and revenue sources to pay for it. One of the more recent targets is the safe harbor provision in the Tax Code that allows financial advisors the freedom to be self-employed. A careful analysis of established IRS regulations makes it clear that registered representatives associated with independent broker-dealer firms are properly classified as independent contractors for purposes of employment taxes. FSI is dedicated to preserving this classification and protecting the independence that is so vital to the advice, products, and services independent financial advisors provide clients.
Click here to read a full briefing on the current legislation that presents challenges to the independent contractor status.
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David Bellaire, Esq.General Counsel & Director of Government Affairs770 980-8488e-mail David
Matthew Schwartz, Esq.Government Affairs Counsel770 980-8493e-mail Matthew