Remove blog- sales-tax-faqs
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Should you register for GST/HST and QST and What it Means to Be Zero Rated

Ronika Khanna CPA,CA

The simple answer is that if you anticipate that your annual gross revenues (total sales) are going to exceed $30,000 and your products or services do not qualify as Exempt or Zero rated (explained below) , then you are required to register for GST/HST and collect sales taxes from your Canadian customers and clients.

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Superfund Chemical Excise Tax FAQ: What companies need to know

ThomsonReuters

Effective July 1, 2022, as required by the Infrastructure Investment and Jobs Act (IIJA) passed last November, the Internal Revenue Service (IRS) has reinstated the Superfund Chemical Excise Tax on a wide range of chemicals and substances. What is the purpose of the Superfund Chemical Excise Taxes? Are exporters being taxed?

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Agencies Clarify Requirements for Plan Coverage of OTC COVID-19 Tests

ThomsonReuters

FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 52 (Feb. The DOL, IRS, and HHS have issued additional FAQ guidance addressing the terms and conditions under which group health plans must cover over-the-counter (OTC) COVID-19 diagnostic tests.

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What Does A Tax Extension Mean For You?

Nancy McClelland, LLC

It’s that time again… Tax Day is upon us and millions of taxpayers will need to have their returns extended for various reasons. The AICPA has released a “Tax Extension FAQ” for CPA members to share with their clients. Why does my CPA suggest we extend my tax return? • What does this mean? to complete your return.

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How To Start A Shopify Store And Run It Successfully: A Shopify Starting Guide

Snyder

How to add a blog to your Shopify store? How to add tax on Shopify? The options you can choose under each section: Pricing section: whether to charge tax on this product or not. FAQ: provide the answers to the most frequently asked questions about your Shopify store that may appear in the customer’s mind. Blog posts ?

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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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Rules for When To Issue a 1099 Form to a Vendor – Updated for 2023

Nancy McClelland, LLC

Here’s a crash course for each type of form, followed by an FAQ. So, keep in mind that a company can be an LLC but be taxed as a corporation. The person filling out the W-9 will indicate their entity type and whether or not they are taxed as a corporation. The IRS is now planning a phase-in of $5,000 for tax year 2024.