TaxConnex

MARCH 18, 2021

In response, most taxpayers concluded that until they had a physical presence in the state, they did not have “substantial nexus” and therefore were not subject to a state’s business tax. One of the easiest ways to do so was to enact economic nexus standards for state business tax purposes. Supreme Court.

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Withum

FEBRUARY 13, 2025

Get the Latest Tax and Legislative Developments Withums National Tax Policy and Legislative Updates Resource Center is the go-to hub for the latest changes in tax laws and legislative developments from Washington, D.C. Let’s Chat This article aims to provide an unbiased and balanced perspective.

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TaxConnex

JULY 15, 2021

The Maryland Comptroller has issued a revised version of Business Tax Tip #29 , which clarifies the Comptroller’s interpretation of its sales and use tax on “digital products,” including software. Businesses are urged to sign up for the state’s notification service to get future notices. Greg Abbott has also signed S.B.

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SkagitCountyTaxServices

SEPTEMBER 22, 2021

The rest, I’ll cover below… Small Business Tax Credit Updates Skagit County Owners Will Want to Consider “I always tried to turn every disaster into an opportunity. ” – John D. The 6-month run for employee subsidies and employer tax credits to help pay for COBRA health insurance. Rockefeller. Stay tuned.

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xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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CPA Practice

JULY 12, 2024

The small businesses that anchor our economy are about to face a devastating tax hike that will hurt workers and weaken communities. As the owner of one of those job creators—a third-generation family-owned manufacturing company in Cuba, Missouri—I’m calling on Washington, D.C., Washington can’t let this happen.

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SkagitCountyTaxServices

DECEMBER 8, 2021

But the calendar waits for no business, and time is getting short to plan your moves. Year-End Business Tax Strategy for Skagit County SMB Owners “We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” – Winston Churchill.

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Patriot Software

JANUARY 4, 2023

Forty-five states and Washington D.C. have some type of state sales tax. Some states might even have different sales tax rates or rules for local taxes or online sales. Chances are, your business is probably in a state with sales tax. To remain compliant, you must know sales tax laws by state.

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CPA Practice

AUGUST 15, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Some states have laws that allow inflation to dictate higher property taxes. That’s because revenue from property taxes is used to fund police and fire departments, maintain roads, and other initiatives that benefit the public. from 2022 to 2023.

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CPA Practice

JUNE 30, 2023

Business tax savings Businesses would get lots of tax savings under the House GOP plan. What’s not in this plan that some House members from high-tax states want: A hike in the $10,000 cap for deducting state and local taxes on Schedule A of the 1040. _ Firms could write off more asset purchases.

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MyIRSRelief

MAY 1, 2024

Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon. This article dives deep into the critical role of tax professionals for small businesses.

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CPA Practice

MARCH 8, 2023

He is responsible for Bloomberg Tax & Accounting’s corporate tax products, including Fixed Assets. Prior to Bloomberg Tax & Accounting, Ryan was a CPA at KPMG’s Washington D.C. Metro office in the Business Tax Services practice.

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CPA Practice

APRIL 17, 2023

And don’t assume your business is too small to be their next success—especially as everyone’s business taxes, including theirs, are soon about to get much bigger. ABOUT THE AUTHOR Bruce Willey, JD, CPA, is founder of American Tax and Business Planning in Cedar Rapids, IA.

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TaxConnex

DECEMBER 1, 2022

The plaintiffs have reportedly said that Louisiana’s patchwork sales tax compliance system is a labyrinth filled with audit traps and now say the case belongs in federal court because Wayfair was ultimately decided in the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

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CPA Practice

AUGUST 21, 2023

All contents copyright 2023 The Kiplinger Washington Editors Inc. Around 13 states, including California, Colorado, Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey, New York, and Oregon, have such a law on their books. Look for more states to follow suit. _ Distributed by Tribune Content Agency LLC.

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CPA Practice

APRIL 28, 2023

Instant Financial CEO Tal Clark says that while his company provides one option that automates tax compliance and payroll, many business owners have created their own. One business has even gone a step further. Destination Unknown Restaurants, a Washington D.C.-based Customers were no longer dining in.

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CPA Practice

JULY 8, 2024

Kowalsky earned an MSc in Economic History from the London School of Economics and Political Science; an MA in History from The George Washington University; and double majored at American University to earn his BA, Literature, and BA, History & Philosophy. Treasury’s Exceptional Service Award, awarded by Secretary Janet L.

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CPA Practice

APRIL 24, 2023

Instant Financial CEO Tal Clark says that while his company provides one option that automates tax compliance and payroll, many business owners have created their own. One business has even gone a step further. Destination Unknown Restaurants, a Washington D.C.-based Customers were no longer dining in.

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CPA Practice

AUGUST 3, 2023

And, if you are unsure about IRS requirements for hiring your kid to work for your business, consult a trusted finance or tax professional. All contents copyright 2023 The Kiplinger Washington Editors Inc. Distributed by Tribune Content Agency LLC.

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CPA Practice

JULY 26, 2023

Conversely, marketplace facilitator laws in some states specify that online accommodations or lodging platforms are not marketplace facilitators and therefore aren’t liable for collecting and remitting taxes on the net amount. That’s the case in Washington state.

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ThomsonReuters

JANUARY 30, 2023

A proposed bill ( House Bill 2138 ) in Oregon seeks to repeal its PFMLI program, beginning January 1, 2024, and would instead offer a tax credit to employers who provide paid family and medical leave. Washington ( Senate Bill 5286 ) looks to amend the premium rate calculation for its PFMLI program and makes other updates.

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SkagitCountyTaxServices

DECEMBER 29, 2022

If you want to talk through any of the federal spending things happening in Washington, I’m here for you: app.acuityscheduling.com/schedule.php?owner=19530343. So, here’s what should be on your business radar …. You might have heard about all the federal funding and spending bills flying around Washington. owner=19530343.

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PYMNTS

OCTOBER 19, 2020

However, the OECD cautioned about the potential of an international trade war brought by different nations rolling out digital services taxes on their own to assist in their economic rebounds from COVID-19 in the event nations don’t all agree on the new tax regulations. France Will Proceed With Controversial Digital Services Tax Plan.

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Snyder

JUNE 9, 2022

Note: The important thing is that the United States income tax rates are marginal , which just means that each tax rate applies to only one part of your income. . Income tax calculations are reflected in the business tax return. In the USA, the IRS or local tax agencies play the role of such authority.

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CPA Practice

JUNE 8, 2023

All contents copyright 2023 The Kiplinger Washington Editors Inc. For instance, your underpayment penalty might be waived if you are a victim of a major disaster or casualty, over 62 years old and disabled, or can show that your underpayment was due to reasonable cause. Distributed by Tribune Content Agency LLC

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ThomsonReuters

NOVEMBER 2, 2021

Once you have established your company as a C corporation, you can then file an option to be taxed as an S corporation, which means that tax obligations pass through to the owners’ personal tax reporting. If you don’t know what kind of corporation your business is, call the IRS Business Tax Line at 800-829-4933.

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CPA Practice

JULY 28, 2023

Currently, states with some form of digital advertising taxes include Connecticut, Massachusetts, New York and Texas. Arkansas, Connecticut and Indiana have implemented digital taxes on social media transactions.

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RogerRossmeisl

APRIL 28, 2024

Another reason may be because you expect your non-corporate pass-through entity business to pay taxes at higher rates in the future and the pass-through income will be taxed on your personal return. There have also been discussions in Washington about raising individual federal income tax rates.

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CPA Practice

JANUARY 18, 2024

Biden’s child tax credit expansion was in place for just one year, but in that one year it helped slash child poverty to a record low 5.2%. A 2018 paper published by Social Work Research and authored by Washington University professors Michael McLaughlin and Mark Rank estimated the total cost of child poverty on the U.S.

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CPA Practice

SEPTEMBER 19, 2023

All contents copyright 2023 The Kiplinger Washington Editors Inc. The cheapest advice may actually be the more expensive, as happened here. About the author: John M. Goralka is founder of The Goralka Law Firm. _ Distributed by Tribune Content Agency LLC.

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CPA Practice

AUGUST 3, 2023

And given that, seeing business owners working harder to keep more of their company’s earnings is likely to become more common. ABOUT THE AUTHOR Bruce Willey, JD, CPA, is founder of American Tax and Business Planning. _ All contents copyright 2023 The Kiplinger Washington Editors Inc.

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CPA Practice

JULY 24, 2024

The IRS said this week that individuals and businesses in 67 Texas counties affected by Hurricane Beryl now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).

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CPA Practice

FEBRUARY 5, 2024

However, the nonpartisan Committee for a Responsible Federal Budget estimates that the true cost could be roughly $650 billion over a decade, if the tax cuts and credits are extended throughout that time period. In the House, the bill was supported by every Washington and Idaho lawmaker except for Rep.

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Withum

FEBRUARY 15, 2022

Yes, the back and forth of this process is mentally exhausting, which is why little gets done in Washington. Business Tax Services. Of course, if the Democrats pass that type of bill, then what would become of SALT reform, fighting childhood poverty, and all the other progressive initiatives that were in the BBB bill?

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Withum

FEBRUARY 7, 2025

Joel, Partner, in Withums Washington DC office was chosen for the directory because of his industry expertise, community involvement and trustworthy reputations in the DC business world. As a tax accountant, his specialties include Business Tax Services , Private Client Services , and Estate and Trusts Services.

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Withum

FEBRUARY 27, 2025

Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape. Contact Us For more information on this topic, reach out to Withums Business Tax Services Team.

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ThomsonReuters

JUNE 10, 2021

The Secure Maryland Wage Act , signed into law by Maryland Governor Hogan on May 30, 2021 and effective October 1, 2021, establishes a minimum wage for “certain employees working at a heightened security interest location,” defined as Baltimore-Washington International Thurgood Marshall Airport or Pennsylvania Station in Baltimore.

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