CPA Practice

AUGUST 21, 2023

Here is the main federal income tax implication. Section 280E actually prohibits businesses that traffic in Schedule 1 or Schedule 2 drugs that are illegal under federal law from claiming business expenses on their federal income tax returns. Currently, marijuana is a Schedule 1 drug, the highest level.

income tax 98

income tax Tax tax return Oregon 98

CPA Practice

APRIL 10, 2023

States typically take one of five different approaches to taxing accommodations: A single, statewide tax on accommodations but no additional local taxes (e.g., Connecticut, Maine, New Hampshire) A combined state/local sales tax on accommodations and local jurisdictions can impose an additional local accommodations tax (e.g.,

Tax 85

Tax West Virginia Wisconsin Virginia 85

CPA Practice

JUNE 9, 2023

said previously he’s briefed a range of House GOP groups on the tax package he’s developing, including the House Freedom Caucus, Main Street Caucus, Republican Governance Group and opponents of the $10,000 cap on deducting state and local taxes, known as the SALT cap. Ways and Means Chairman Jason Smith, R-Mo.,

Tax 52

Tax New Jersey Maine New York 52

CPA Practice

AUGUST 11, 2023

An impasse on if or how to bolster the benefit has now held up tax negotiations for a year. While Democrats are demanding a child credit boost in any bipartisan tax package that also revives lapsed business tax breaks, some lawmakers in Republicans’ narrow House majority are also naming it a top concern. New York Rep.

Tax 52

Tax Iowa Arizona North Carolina 52

inDinero Tax Tips

MARCH 13, 2023

You can also apply to change LLC to S corp in the current tax year. One of the main criteria to convert LLC to S corp is to have at most 100 owners or members. Convert LLC to S Corp – Advantages Taxation The difference in how the profits are taxed is the main advantage of converting an LLC to an S corp.

income tax 52

income tax Non-Profits payroll tax Tax 52

inDinero Tax Tips

MARCH 13, 2023

You can also apply to change LLC to S corp in the current tax year. One of the main criteria to convert LLC to S corp is to have at most 100 owners or members. Convert LLC to S Corp – Advantages Taxation The difference in how the profits are taxed is the main advantage of converting an LLC to an S corp.

income tax 52

income tax Non-Profits payroll tax Tax 52

ThomsonReuters

JANUARY 30, 2023

Tax credits State legislators are looking to offer businesses tax incentives for certain benefits to employees. Currently, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Massachusetts, Maryland, Maine, New Jersey, New Mexico, New York, Oregon, Virginia, and Vermont offer such plans along with a few localities.

payroll 105

payroll Hawaii West Virginia Oklahoma 105

PYMNTS

MARCH 4, 2020

It was a big night in California for Biden and Sanders Tuesday (March 3). That’s because a San Francisco ballot measure that would tax vacant storefronts looks like it’s headed for victory. First, it would force landlords to be more careful about booting businesses that have trouble paying exorbitant rents.

Retail 52

Retail Tax Real Estate California 52