Bipartisan ideas are rare on Capitol Hill these days, given the current divided political climate.
Continue reading “Modernizing the Internal Revenue Service”
Big changes for employers under tax reform. We’ll delve into three of them in this letter.
Let’s begin with meals and entertainment. Entertainment expenses are not deductible. Before 2018, firms could generally take a tax-off for half of their business-related entertainment costs. Tax reform axed this break starting with 2018 returns, so no more writing off show tickets, golf course fees, sporting events and the like, even if taking clients.
Continue reading “Changes for Employers”
For decades, companies were only required to collect and remit sales tax if they had physical presence in a state. But with the advent of online sales and e-commerce, that requirement is rapidly changing. A growing number of states have passed tax nexus legislation, which redefines the circumstances under which a company is subject to sales tax.
Continue reading “Why Tax Nexus Rules Matter to Your Business”
Most people think of April 15 as tax day — the day on which they have to either file their tax returns for the year or request an extension. But as you get ready to prepare your 2017 tax return, you might get a pleasant surprise: You’ll have another couple of days beyond April 15 to get everything done.
Continue reading “TAX DEADLINE”
Most Americans will owe less in taxes as a result of President Donald Trump’s overhaul of the U.S. tax code, but in a few jurisdictions, about one in 10 will be paying more, according to an analysis released Wednesday by the Tax Policy Center.
Continue reading “April 2019 Tax Bills May Catch Some Americans Off Guard”