TaxConnex

DECEMBER 29, 2022

Sales tax also soon emerged as a political arguing point. One Pennsylvania legislator called for elimination of that state’s sales and use tax (echoing a colleague’s earlier call for a two-month break from the state’s sales tax in the coming summer, citing inflation). More doubters would pop up later. Supreme Court.

Sales 130

Sales Tax Maryland Louisiana 130

inDinero Accounting

DECEMBER 5, 2023

QSBS Rules by State While the QSBS applies universally to federal capital gains taxes, some states still levy capital gains taxes. How much capital gains tax an investor is safe from depends on when the stock was purchased. How much capital gains tax an investor is safe from depends on when the stock was purchased.

tax return 52

tax return Mississippi Wisconsin Tax 52

Going Concern

FEBRUARY 26, 2024

Marine Corps passed a full financial audit for the first time, with the service announcing Friday its fiscal 2023 financial audit received an “unmodified audit opinion” after a rigorous two-year review. The US audit watchdog also inspected four EY Canada audits in 2020 and found deficiencies in half the engagements.

audit 56

audit Mississippi auditor tax return 56

CTP

FEBRUARY 29, 2024

Without knowing that information, you can’t serve your client the legal help required to avoid paying IRS tax debts. First, you must classify gamblers, identify your clients in specific categories, and calculate estimated federal income tax. Lottery, horse track, poker tournament, and slot machine gambling are all taxed.

Gambling 105

Gambling Tax Account accountant 105

CPA Practice

JANUARY 10, 2024

Simply filing taxes as a “pro” for the tax benefits without meeting these criteria can draw IRS scrutiny. Thorough record-keeping is critical to validating one’s professional gambling status if audited. Accountants must understand the multitude of state-specific policies to best advise clients on minimizing total gambling taxes.

Gambling 80

Gambling Tax Account accountant 80

CPA Practice

MARCH 13, 2023

Smith said the committee will be conducting oversight to make sure audits of small businesses and working families don’t rise due to the extra IRS funding. Yellen reiterated her pledge that audit rates won’t rise relative to historic levels for people making less than $400,000 per year. Another Republican, Pennsylvania Rep.

Tax 52

Tax Pennsylvania audit income tax 52