Friday, March 16, 2018

Google Alert - tax

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tax
Daily update March 16, 2018
NEWS
"A lot of people are blindsided by their tax bill," said Greg McBride, chief financial analyst at Bankrate.com. If you wait too long to file your taxes, he said: "You're short-changing yourself on time." The sooner you file, the sooner you'll know if and how much you owe the government. That knowledge can ...
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Municipal bonds are off to a slow start in 2018 – which is usually a bullish sign for these tax-free payers. We last "pounded the table" on munis in December 2016. They were coming off their worst month since the Great Recession, and we discussed their tendency to rally when they are hated:.
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LOUIS — Amid all the turmoil and uncertainty, with his White House seemingly fraying, his legislative agenda stalled and his electoral base in danger, President Trump these days finds one area of comfort: talking about his tax cuts. He finds it so reassuring, in fact, that he is increasingly talking about ...
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January 2018 ushered in the most comprehensive tax law change in more than 30 years and this law has important implications if you plan to make charitable contributions this year or in the future. Here's a brief rundown to help you give wisely (unless Congress acts before December 31, 2025, these ...
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The scammer pilfering your tax return data may very well be sitting in front of a computer in Eastern Europe. An analysis from 2015 to 2017 by cybersecurity consultancy Kroll revealed that two-thirds of U.S. tax forms on the dark web — a corner of the internet that's only accessible through a special ...
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Some first-time investors are waking up to the fact that they owe capital gains on 2017's cryptocurrency trading profits and are selling the digital currency ahead of tax season. "People had huge gains last year, and they don't have enough in crypto to pay those," says Cathie Wood, CEO & CIO at ARK ...
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House Ways and Means Committee Kevin Brady is talking to the White House about a possible "phase two" of the Republican tax plan. President Donald Trump has repeatedly hinted at a second part of the tax proposal to follow the law passed in December. Brady wants to bring forward further changes ...
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When you're driving for Uber, delivering for Amazon, picking up freelance jobs or otherwise participating in the gig economy, you aren't working for a boss who is required to withhold taxes from a regular paycheck. As a result, you're subject to some fairly complex tax rules. On-demand workers don't ...
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The Australian Taxation Office (ATO) issued a warning about would-be scammers trying to con people out of their cryptocurrency. Since late last year, scammers have been calling Australians and impersonating the tax office, claiming that the victims owed funds in unpaid taxes, and asking them to pay in ...
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Master Limited Partnerships are pass-through entities -- distributing pre-tax income to unit holders, who then are responsible for paying taxes on it according to their individual situations. For more than a decade MLPs have been able, in the FERC's words, "to recover an income tax allowance in their cost ...
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The days of taking out a home equity line of credit to pay for college, a new car or for someone's silence — and take a tax break on the interest — are coming to a close. Prior to 2018, homeowners were able to borrow against their dwelling and deduct the interest paid on loans of up to $100,000. It didn't ...
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The "phase two" tax cuts proposed by President Donald Trump could "outdo" the one passed by Republicans in December, economist Arthur Laffer told CNBC on Thursday. Laffer, who was a member of President Ronald Reagan's economic policy board and helped pass the Tax Reform Act of 1986, ...
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Pennsylvania uncovered an uncomfortable reality for Republicans, who tried to push their tax cuts in this race, with outside groups spending more than $7 million largely on that message. Lamb, as moderate as he was, didn't try to mirror Republicans on their agenda. I tried to ask Ryan about this ...
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Brussels is preparing to hit big tech companies such as Google, Facebook and Apple with a "digital tax" on EU turnover that will raise about €5bn a year. According to draft proposals seen by the Financial Times, the European Commission will unveil a three-pronged digital tax next week that targets ...
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With the new GOP Tax Plan now in effect for 2018 many people are wondering, "Can I still deduct my home equity line of credit? ... Californians feared the new tax law (The Tax Cuts and Jobs Act of 2017) - enacted last December- would completely screw those counting on deducting interest from Home ...
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If you miss the filing deadline for your federal income taxes, you could be hit with penalties and interest if you still owe money to the IRS. For those who are owed a refund, however, there is no penalty for filing late. But you better be pretty sure about that refund because the punitive charges can really add ...
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The Progressive Revenue Task Force recommended the City of Seattle pass legislation this year to generate $150 million per year in new progressive revenue, including $75 million dollars from an Employee Hours Tax or "head" tax. Part of the money generated would go towards affordable housing ...
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Together, the two measures are aimed at plugging the gaps which have allowed some digital and global companies to drastically reduce their tax bills or avoid paying taxes where they create their profits. This would partly be achieved through proposed benchmarks which would identify whether a firm ...
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State and federal laws already prohibit public agencies from spending public funds to support or oppose ballot measures, but they leave some room for the use of public dollars to provide information to voters about tax measures. Mayor Pro Tem Will O'Neill said cities have "essentially driven a Mack ...
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Not paying close enough attention, that is, to the changes currently being enacted by lawmakers in Washington DC to the tax code as it relates to the alcohol industry. Does reading the tax code updates sound boring? Maybe, especially when you consider that the sliver of relevant content is buried deep ...
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Bill Shorten says he will have "more to say about pensioners between now and the election" as the Batman byelection campaign enters its final days. While continuing the stout defence of the policy he unveiled on Tuesday axing cash dividend imputation credits as fiscally fair and necessary, the Labor ...
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Republicans have spent the last year cutting taxes and regulations, which hasn't been easy. But now some Members of Congress want to blunt their handiwork by passing an online sales tax. Yes, they actually believe this would be good policy and politics. A large faction of House Republicans are ...
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In other high-tax states, Democratic politicians are emphasizing a different way to go anti-Trump. New York Gov. Andrew Cuomo, for example, is proposing workaround schemes so that upper-income residents won't be hit so hard by one particular provision in the president's tax-cut law – the cap on the ...
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Reilly's Third Law of Tax Planning - Any clever idea that pops into your head probably has (or will have) a corresponding rule that makes it not work. All my scheming on behalf of worker owned cooperatives will be as naught if the fix to what is called the "grain glitch" is inserted in the omnibus bill ...
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Last fall, the European Union's largest continental economies -- Germany, France, Spain and Italy -- came out in favor of the turnover levy they dubbed an "equalization tax." According to EU data, the effective corporate tax burden for a traditional company is 23 percent, but digital ones are just 10 percent ...
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Last month, President Donald Trump signed a budget passed by Congress that ended a brief government shutdown. As part of the 652-page budget bill, Congress extended several temporary car-related tax breaks, which The Center for Public Integrity highlighted in a massive investigation published ...
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This year, the IRS adjusted the annual limit that escapes taxation, upping it to $15,000 from $14,000. A more important change that came with the new tax rules: the estate tax limit doubled in 2018 to $11 million per person from $5.49 million. That boost in giving potential could make people change their ...
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An income tax refund may be the biggest check some people see all year. That makes tax season a great time to jump-start a savings plan, financial experts say. "Tax time is a critical moment, especially for vulnerable consumers," said Brian Gilmore, senior innovation manager at Commonwealth, ...
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A bipartisan pair of California lawmakers have annouced a bill which would drop the state excise tax on cannabis to 11% from the current 15% for a period of three years. As Leafly reported Thursday, the bill was introduced by Assemblymembers Tom Lackey (R-Palmdale) and Rob Bonta (D-Oakland) ...
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Under the GOP overhaul passed in December, tax changes for individuals are set to expire at the end of 2025, while the corporate rate cut to 21 percent from 35 percent is permanent. Republicans had to comply with Senate budget rules that dictated the tax bill couldn't add more than $1.5 trillion to the ...
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A full-blown trade war would erase any economic benefits from the Republican tax cuts passed last year, according to an analysis by the University of Pennsylvania. The Trump administration is imposing steep tariffs on imported steel and aluminum next week. So far, only Canada and Mexico have ...
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Revenue from the tax, the result of a statewide initiative passed in 2004, also expanded access to therapy and case management to almost 130,000 people up to age 25 in Los Angeles County, according to the report by the Rand Corp. Many were poor and from minority communities, the researchers ...
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Washington, D.C. – Tax season is in full force, but there's no need to stress – with less than a month left to track down W2s, U.S. News & World Report provides the resources to help consumers stay on top of their taxes this year. Stay in the know with tips from U.S. News Personal Finance Editor ...
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Sears, the struggling retailer that has shuttered stores and borrowed hundreds of millions to stay afloat, got a lift in its latest quarter from the new U.S. tax law, which helped swing it from a steep loss to a profit. Sears Holdings reported net income of $182 million, or $1.69 per share in the three months ...
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If Hong Kong were to impose a tax on unsold apartments, it would replicate a system in Singapore, which imposes penalties on developers who hoard properties. Other global cities have taken a different approach to taming property booms, particularly targeting foreign buyers who leave homes ...
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The House Finance Committee wants to give more hotel tax revenue to neighbor island counties. March 15, 2018, at 9:57 p.m. ... The committee on Thursday voted unanimously to boost the Big Island's share of transient accommodations tax revenue to $31 million from $19 million. Maui County's share ...
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The directors of Mossack Fonseca blamed the economic and reputational damage inflicted by its role in the global tax evasion debacle for the closure. Leaked files from the company were the basis of the Panama Papers investigation in early 2016, provoking a global scandal after showing how the rich ...
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Portland arts tax scofflaws beware: City tax collectors on Wednesday won the ability to spend more money to go after money-earning adults who don't pay the $35 annual tax. On a 4-0 vote, Portland city commissioners removed a cap on how much the city can spend to run the local arts tax.
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Jitters over the possibility of a trade war with China saw the Dow Jones Industrial Average finish 247 points lower at 24,759.39, a drop of 1%. The S&P 500 lost 0.6%, while the Nasdaq dipped by 0.2%. Traders are now pondering the prospect of Larry Kudlow joining the White House; as a critic of tariffs, ...
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Hines, who has given his self-funded campaign more than $670,000, and his wife Martha reported $457,000 in income, $21,000 in charitable donations and paying $114,000 in federal income taxes on $393,000 of taxable income. They also disclosed other financial information — real estate valued at ...
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Several business owners are suing the small town of Seat Pleasant, Md., for an approximately eightfold property tax increase they allege is unlawful and designed to shut down their businesses. The owners of a discount market, a Chinese takeout restaurant and a liquor store say officials violated the ...
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Thanks in part to the recently enacted tax cuts, another borrowing binge is getting underway: This fiscal year, the Treasury Department is expected to borrow $955 billion from investors, a sharp increase from last year. The price this time around will probably be steeper — both for the government, and ...
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U.S. tech companies could end up paying billions of dollars in new taxes under a plan the European Commission is considering, according to a report by the Financial Times late Wednesday. According to a draft report seen by the FT, a "digital tax" would be be assessed against companies' revenues ...
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Although business transportation — going from one place to another without an overnight stay — is deductible, attaining "business travel status" fully allows for substantial tax benefits. Under business travel status, the entire cost of lodging and incidental expenses, and 50% of meal expenses, ...
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SULPHUR — At their Monday night meeting, the Sulphur City Council approved a resolution to support West Calcasieu Cameron Hospital's proposed tax millage renewal on the April 28 ballot for voters in Wards 4 and 7 in Calcasieu Parish and Ward 6 in Cameron Parish. The millage would be capped ...
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Kelbick and other teachers at the Capitol Wednesday targeted a bill that would make several changes to the state's School Tuition Organization tax credit program, which gives taxpayers a dollar-for-dollar tax credit for donating to organizations that then provide students with scholarships to private ...
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A tax return preparer from Durham was sentenced to 20 months in federal prison on Tuesday for helping file false tax returns. Laurean S. Robinson, who worked for Tax Breaks, a tax preparation business in Durham, pleaded guilty to the charges April 3, 2017. But it took almost a year for U.S. District ...
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Syracuse, N.Y. -- If you're like a lot of people, preparing your tax returns isn't your favorite pastime. So maybe you put it off until the last minute. Luckily, that last minute will come a little later this year. Instead of the usual filing deadline of April 15, we've all got until April 17 this year. No, the IRS isn't feeling ...
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For those headed to hotels, you'll probably encounter sales tax before you start packing. Florida, Louisiana, and Mississippi impose sales tax on the rental of hotel rooms, while Alabama and Texas do not. Hotel amenities, which are additional items or services provided to guests, are taxable in Florida ...
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The Miller Park sales tax generated about $31 million last year, a 3.14% increase from the previous year, a new report says. The tax, paid by residents of Milwaukee, Ozaukee, Washington, Waukesha and Racine counties, has been in effect since 1996. The 0.1% tax can be retired by late 2019 or early ...
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WEB
The Coinbase Tax Center
I used them today to calculate our gains in 2017 and send the reports to our accountants. The Coinbase tax center is here. The tools look like this: I generated all of those reports just now and sent them to my accountant so we can report the 2017 gains on our returns. Sadly in 2015 and 2016, we had no ...
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Cryptocurrency Exchange Coinbase Introduces New Tax Calculator
Tax on virtual currencies is a confusing and murky area, as digital assets are still new and official protocols are not well established. According to a study of over 250,000 US digital asset investors only 0.04% are paying tax, and Coinbase's move to simplify the process is likely an effort to change this and ...
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FERC Revises Polices, Will Disallow Income Tax Allowance Cost Recovery in MLP Pipeline Rates
FERC Revises Polices, Will Disallow Income Tax Allowance Cost Recovery in MLP Pipeline Rates. The Federal Energy Regulatory Commission (FERC) today responded to a federal court remand by stating it no longer will allow master limited partnership (MLP) interstate natural gas and oil pipelines to ...
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President Trump
President Trump speaks in St. Louis, Missouri at a roundtable with business leaders, addressing the tax cuts he has made and the beginning of phase two of his tax reform plan.
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Australia Warns of Scammers Collecting Taxes in Bitcoin
Australia's official tax authority has warned the public of scammers purporting to be tax agents demanding cryptocurrencies like bitcoin for tax payments.
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IRS provides additional details on section 965, transition tax
WASHINGTON -- The Internal Revenue Service today provided additional information to help taxpayers meet their filing and payment requirements for the section 965 transition tax. The Tax Cuts and Jobs Act requires various taxpayers that have untaxed foreign earnings and profits to pay a tax as if ...
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College Cafeteria Worker Breaks Down With Emotion Thanking President Trump for Tax Cuts
To multimillionaire Nancy Pelosi, the GOP tax cuts signed into law by President Trump are nothing more than "crumbs." But to millions of Americans, the hundreds or thousands of dollars they suddenly see in their paychecks are a godsend.
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Tax Mapping
Responsible for the mapping of County properties onto local tax maps. Department works with the public to provide information on and copies of parcels. Tax Mapping 106 Rucker Street P.O. Box 466. Stuart, Virginia 24171. Ph: 276-694-4624. Teresa McCormick. Tax Mapper tmc@co.patrick.va.us.
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Tax Exempt Information
Tax Exempt Information. This is to certify that Mississippi State University is an agency of the State of Mississippi and is exempt by law (Section 27-65-105 Mississippi Code of 1972) from the payment of Mississipi sales tax. Tax Exempt Certificate · Procurement & Contracts Manual · Training · Bids ...
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E-tax
E-tax. Guide to E-tax. What you can use E-tax for · Tax assessment notice in E-tax. See and change your tax assessment notice · Preliminary income assessment in E-tax. See and change your preliminary income assessment · How to log on to E-tax. Log on using your NemID or an E-tax password.
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D-Tax Professionals
Free Consultation. Always focus one on one customer attention. Income Tax Return. tax. Let our knowledge, experiences and professionalism work for you. Read More. HOME · SERVICES · FAQ · TAX TOOLS · CONTACT US. Follow Us: D-Tax Professionals © 2012 | All Rights Reserved.
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From Switzerland To Singapore: The World's Top Tax Havens
The ultra-wealthy are hiding up to $32 trillion in tax havens around the world, and while Switzerland gets the top spot on the new list, the U.S. is a not-so-distant second...
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2017 Tax Benefits Provided by the Bipartisan Budget Act of 2018
The Bipartisan Budget Act (the Act), P.L. 115-123, enacted February 9, 2018, extended the date for many benefits in the tax law (extenders) and added a few new ones. If you viewed or downloaded any of the impacted tax forms, instructions, or publications before February 9, 2018, please revisit those ...
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Sooner Tax Service Inc.
Sooner Tax Service provides accounting and tax preparation services to both individuals and businesses. We give the same attention to all clients, no matter how large or small. The accounting, tax preparation, and other consulting services we provide are tailored to the unique needs of each client, ...
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Council tax
Advice and information about your Council Tax bill, including how to pay plus discounts and exemptions.
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Durham & Company LLC
WHAT WE DO. Our firm is a leader in tax preparation and planning, business services, and consulting. Our expertise and experience provides each client with close personal and professional attention. Read More ...
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Boeing Crowdsources Employee Ideas for $100 Million Tax Reform Investment
CHICAGO, March 14, 2018 /PRNewswire/ -- Boeing [NYSE: BA] wrapped up a crowdsourcing initiative March 9 that gathered employee ideas for workforce investments that the company has pledged to make as a result of the benefits of tax reform legislation. Boeing asked employees directly for ideas ...
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Pennsylvania Exempts Defibrillators and Related Accessories
Pennsylvania exempts defibrillators and related accessories from sales and use tax on the grounds that they alleviate physical incapacities. Therapeutic devices are "devices designed for the use of a particular individual to correct or alleviate a physical incapacity, and a medical supply is tangible ...
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3 myths about tax extensions
Sometimes filing a tax extension can be a benefit to your clients, but only if they are clear on what an extension means —and what it doesn't mean. If you're a tax CPA, you've probably come across a client who chose not to file an extension because they misunderstood how...
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1 Month Until Tax Day. Social Security Can Help You Prepare!
This year the tax return filing deadline, or Tax Day, falls on April 17. Individual income tax returns are due to federal and state governments. Social Security can help you prepare: If you receive Social Security benefits, Social Security provides you with an annual Benefit Statement, also known as the ...
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Why did post-Roman rulers abandon tax-paid army?
rulers abandoned Roman tax-payed army in favor of medieval feudal one, which was far worse. Paying an army with tax money does not confer inherently superior quality. While one could argue European feudal armies were inferior to the Roman legions, this had very little to do with taxation. The prime ...
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31 March 2018: Last date to file Income Tax Return for AY 2016-17 & AY 17-18
Income Tax Department has become very vigilant these days. You must have heard from your family and friends about the hassles they had to undergo to clear tax notices received from the income tax authorities. In case your income tax return for Assessment Year 2016-17 & 2017-18 is not yet filed, we ...
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Tax reform and the impact to your franchise
Tax reform is here, it's big, and it will impact your franchise. As the first major overhaul of the country's tax code since 1986, the Tax Cuts and Jobs Act is bringing with it substantial, wide-sweeping changes to business taxes, credits and deductions.
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tax code and small business
Introduction. Most Main Street businesses are "pass-throughs" for tax purposes. Pass-throughs are generally not taxed at the business level. Instead items of income and loss are passed through to owners and taxed directly on the owner's individual income tax return. In enacting the original provisions ...
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Arizona seniors could be in line for a big property-tax break
PHOENIX — Some Arizona seniors could be in line for a big property tax break -- including some that a few lawmakers question whether they deserve it.
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IRS Guidance Clarifies Tax Reform's New Repatriation Requirement
The IRS recently clarified some of the bigger concerns surrounding tax reform's new Section 965 transition tax. RKL breaks down eligibility requirements, timing.
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Sexton & Schnoll
Our CPA firm in Gainesville, FL specializes in Accounting, Tax Return Prep and much more. Contact us today for a free consultation! (352) 336-1001.
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Need for a reliable tax calculator that works across exchanges
The Need for a reliable tax filing assistant for crypto-traders. Though many have been enjoying the exponential rise in prices of Bitcoin & cryptocurrencies, tracking and reporting taxes is not as easy as selling a bitcoin or buying a coffee. Calculating gains/losses on crypto trading has been a nightmare ...
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Ohio and multi-state tax impact from 2017 Federal Income Tax Law
Discussions of business tax changes under the 2017 federal tax act have focused on the reduction of the federal corporate income tax rate from 35 percent to 21 percent and the new 20 percent pass-through entity deduction. Less focus has been put on the expansion of the federal income tax base.
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Tax implications of mining Garlicoin.
Interesting, but, well, this stinks. You owe tax for mining at the value on the date crypto is mined, not on the value when you cash out to fiat. ...
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49000 after tax
It depends on your state and local taxes, also your deductions. After tax and national insurance what is my monthly take home pay? The KGB Agent answer: Gross income of £49,000 gives a net wage For the 2017 / 2018 tax year £19,000 after tax is £16,200 annually and it makes £1,350 net monthly ...
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Washington County Businessman and Convicted Felon Charged with Fraud, Tax and Firearms ...
PITTSBURGH – A resident of Washington County, Pennsylvania has been indicted by a federal grand jury in Pittsburgh on charges of wire fraud, tax evasion, conspiracy to defraud the United States, false bankruptcy declaration, and unlawful possession of a firearm by a felon, United States Attorney ...
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Tax Deductions 2018
Tax season is here! For busy real estate agents who manage their own finances, it can be hard to find time (and energy) to get expenses in order. If this is you, do not push these tasks to the bottom of your priority list. Setting aside time now can save you thousands of dollars in the near future. To help ...
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Deal reached to fix unintended tax break for certain farmers
MINNEAPOLIS — Congressional committees and farm groups have crafted language to fix a provision in the federal tax overhaul that gave an unintended tax advantage to farmers who sell their crops to cooperatives instead of other buyers. Both sides now hope to include it in a massive spending bill.
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Platinum Tax Associates
Get directions, reviews and information for Platinum Tax Associates in Atlanta, GA.
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'Phase Two' Tax Bill in the Works, Brady Says
The House's top taxwriter again teased the idea of another major tax bill being developed and considered this year. In a FOX Business interview March 14, House Ways and Means Committee Chair Kevin Brady, R-Texas, said "we are" working on a second tax bill, but offered no specific details.
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