Remove Tax Remove tax return Remove Transportation
article thumbnail

Colorado: Fee or tax?

TaxConnex

The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Payment is due at the same time the seller’s sales tax return is due. While termed a fee, it functions as a tax,” adds the Tax Foundation. Popular it’s not. Will the fee stand?

Colorado 246
article thumbnail

Traveling for Business Again? What can you Deduct?

RogerRossmeisl

Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel within the United States. Note that under the Tax Cuts and Jobs Act (TCJA) , employees can’t deduct their unreimbursed travel expenses through 2025 on their own tax returns. Here are some of the rules that come into play.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Taxability complexities | TaxConnex

TaxConnex

Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Then came 2018’s South Dakota vs. Additional complexities: The five NOMAD states – New Hampshire, Oregon, Montana, Alaska and Delaware – do not have a statewide sales tax.

article thumbnail

Why Businesses with High Capex Should Delay Filing Their Tax Returns This Year

CPA Practice

TNS) This tax season, some entrepreneurs may want to hold off on filing their returns. The bipartisan tax agreement , which was first unveiled last month, is now making its way through Capitol Hill. With the tax code in limbo, you’ll will have to weigh that uncertainty against the amount of money your business stands to save.

article thumbnail

IRS Updates Tax Brackets, Standard Deductions For 2025

CPA Practice

22 released updated tax brackets and standard deductions for 2025. While the actual percentages of the tax brackets will remain the same until next year because of the Tax Cuts and Jobs Act of 2017, the income levels of each bracket change annually to adjust to inflation. The IRS on Oct.

Tax 124
article thumbnail

Sales Tax Highlights of August 2024 | TaxConnex

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Analysis reveals that a fee in Washington of 30 cents per order could generate between $45 and $112 million in revenues in 2026, growing to between $59 and $160 million by 2030,” reads a recent report by the Washington State Joint Transportation Committee.

Sales 147
article thumbnail

What to Know About the Tax Deductibility of Funeral Expenses

CPA Practice

To lessen the burden caused by the funeral costs, many often ask about the tax deductibility of these funeral expenses and whether they can claim some form of tax relief from them. It’s important to remember that funeral expenses are tax-deductible items specific to the estate (gross value of the properties) of a deceased person.

Tax 130