Remove business tax Remove Georgia Remove payroll tax Remove Tax
article thumbnail

The IRS is Trying to Change the Way Businesses Report Tips

CPA Practice

Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. The SITCA program will track tips automatically and doesn’t require a tax reporting commitment from employees.

Georgia 126
article thumbnail

Copy Amazon’s $0 Tax Strategy! How to Write Off Taxes (Easy Guide)

LyfeAccounting

We’ve all heard it before… Amazon paid $0 in taxes while making over 11 billion dollars in profit. And while most businesses were paying their fair share of taxes, in 2018, Amazon received a rebate of $129 million. This basically means Amazon got a federal tax refund for millions of dollars. Must be nice, right?

Tax 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The IRS is Trying to Change the Way Businesses Report Tips

CPA Practice

Like salaried wages, tips are subject to income and payroll taxes. Waiters, for instance, are technically required to report tips to their employer, who then withholds and pays the proper taxes. The SITCA program will track tips automatically and doesn’t require a tax reporting commitment from employees.

Georgia 98
article thumbnail

How to Get Small Business Tax Credits & Incentives

LyfeAccounting

Do you want to know how the rich get away with paying little to no taxes, while many others overpay on their taxes? Well here it is – Tax Credits and Tax Incentives! If you’re anything like me, I’m sure you’ve heard all of these stories about how Jeff Bezos or Donald Trump pays almost little to no taxes.

article thumbnail

The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals

ThomsonReuters

Business Tax Professionals. The tax rules and regulations U.S. We’re left to approach tax-filing season with a great deal of uncertainty,” said Melissa Oaks, a Thomson Reuters tax specialist who presented the webinar. 20 with an ambitious tax agenda and a singular priority. Recent Changes.