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Last Week in Payroll: Keeping Up with Taxes

ThomsonReuters

Keeping Up with Taxes. The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. So, why the brief history lesson on American Colony taxes? For payroll, in particular, there are a number of taxes.

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Last Week in Payroll: Federal Employment Taxes

ThomsonReuters

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

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Accredited Investing: Get HUGE Tax Advantages & Passive Income in 2021

LyfeAccounting

And that’s awesome because accredited investors can get some huge tax advantage and in some cases, you can end up paying very little to no taxes. New 2021 SEC Accredited Investing Rules. But just last year the SEC updated the criteria to include more people. What is Accredited Investing?

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Let’s talk about forced labor, and other global regulatory changes affecting supply chain compliance

ThomsonReuters

But for those operating in a complex network of manufacturers, logistics partners, distributors, raw goods suppliers, and sales channels, remaining compliant carries tremendous burden and risk. Importers need to be aware of the regulations in the Uyghur Forced Labor Prevention Act , which was signed into law in December 2021.

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Last Week in Payroll: Localization of Work

ThomsonReuters

The purpose of the UIPL was to update examples of employment situations requiring uniform interpretation of localization of work provisions in state laws and to revise and reissue the interpretation of “ localization of work ” provisions. Localization of Work. In May of 2004, the U.S.

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Are increased EV tax credits driving force behind Americans’ growing interest in buying?

ThomsonReuters

A new Reuters news poll showing that more Americans are interested in purchasing an electric vehicle (EV) may be due in part to the increased tax credits for such purchases. For 2022, EV sales were up by more than 60% with a representation of just about 6% of all sales in the U.S.

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5 best practices for sales tax reporting and compliance with indirect tax regulations

ThomsonReuters

Indirect tax professionals play a critical role in the success of a business. As the pace of new tax compliance challenges accelerates , tax teams need constant access to accurate data that keeps up with changing sales tax reporting rules and complies with ever-evolving regulations.

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