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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

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Is Tax Relief on the Horizon for Marijuana Businesses?

CPA Practice

They are taxed on their income but can’t write off most of their business expenses. Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. Look for more states to follow suit. _

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Monthly Sales and Use Tax Update

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales. The money collected would go toward infrastructure.

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What are the different electric vehicle tax credits??

ThomsonReuters

To illustrate how electric vehicle tax credits work, let’s take a closer look at Colorado’s clean vehicle tax incentive program. Beginning January 1, 2024, Colorado residents purchasing an EV with an MSRP up to $35,000 will be eligible for an additional $2,500 tax credit.

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5 Tax Saving Strategies for Small Businesses

SingleTrackAccounting

Carrying health insurance is still mandatory under the Affordable Care Act and most small business owners can deduct health insurance related expenses for themselves and their employees on their business tax return. Example: Alley, a small business owner, contributes $15,000 per year to her SEP IRA retirement account.

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