On the surface, it may seem like the easiest part of your income tax form to fill out, aside from your name and address. At the top of the 1040 tax form, the instructions read: Filing status. Check only one box. Sounds easy, right? But the more you think about it, you may find yourself stumped.
The city of Hobbs is pushing to amend a state law that city officials say is resulting in an unintended loss of gross receipts tax revenue for the community.The measure passed by the New Mexico Legislature and enthusiastically signed by Gov. Michelle Lujan Grisham in 2019 included complex changes to state tax laws. Among other
Sales tax is complicated as almost every state has different sales tax laws and the vast majority have individual economic nexus laws. There are 46 states with sales tax laws. In addition, there are also more than 40+ states with individual economic nexus laws. Sounds like a headache, right? Not to worry, there is a
Do you sell on more than one channel? Maybe you have a company website but also sell on Amazon or eBay? TaxJar automatically aggregates the sales tax data from your different channels into a single dashboard so you can view all your transactions as well as state-by-state reports with city, county and special district breakdowns.
Long criticised for the small percentages they pay in tax, big companies such as Google, Microsoft, and Apple will be pushed to pay more following a historic move by the G7 group of wealthy nations. The deal states that large multinational enterprises would pay a global minimum corporation tax of 15%. For the largest global
Wondering why you need a business credit card when you already have a personal credit card? Whether you’re are a new business or already established, a separate credit card can help you build credit for your business – and it can help you keep expenses organized, which comes in handy at tax time.
With Making Tax Digital (MTD) now in full swing, HMRC is one of the most digitally advanced tax administrators in the world. But for many small business owners, MTD is new territory and HMRC is a black hole of information. Due to COVID-19, HMRC made the swift decision to delay phase two of MTD, meaning
The UK Patent Box scheme is set to become an even more valuable tax benefit in the near future. With Chancellor Rishi Sunak’s announcement of higher corporate tax rates from 2023, larger and more profitable companies in the UK will be able to enjoy even greater savings on profits qualifying for Patent Box relief. Currently,
Deutsche Bank on Wednesday posted a pre-tax profit of €908 million for the first three months of 2020 – its best quarterly performance in seven years, and a notable increase on its profit of just €66 million for the same period in 2020. Profits rose across all of the bank’s core divisions, though its investment
The Biden Administration has proposed sweeping tax reforms to the OECD intended to limit multinational corporations’ ability to move profits overseas, in addition to a worldwide minimum corporate tax rate. Plans leaked to the Financial Times showed that the administration is pushing for multinational corporations to be taxed not only on the basis of where
