Remove business tax Remove income tax Remove Louisiana
article thumbnail

Billy Long Sworn in as 51st Commissioner of the IRS

CPA Practice

” Related article: Trump IRS Nominee Billy Long Grilled Over Ties to Fraudulent Tax Credits After Long, 69, left Congress in 2023, he received at least several thousand dollars in compensation from White River, which holds oil and gas mineral leases in Louisiana and Mississippi.

article thumbnail

IRS Offers Tax Deadline Extensions for Louisiana Due to Hurricane Francine

CPA Practice

The Internal Revenue Service is offering tax deadline relief for individuals and businesses in the entire state of Louisiana, affected by Tropical Storm Francine that began on Sept. 3, 2025, to file various federal individual and business tax returns and make tax payments. 10, 2024, through Feb.

Insiders

Sign Up for our Newsletter

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

article thumbnail

State and Local Tax (SALT) Predictions for 2024

CPA Practice

We predict that at least two more states will enact elective PTE taxes, despite the looming expiration of the federal SALT cap. Income tax rate fluctuations States are facing a very uncertain and non-uniform fiscal environment at the moment, affording some, but by no means all, states the ability to reduce state income tax rates.

article thumbnail

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

Snyder

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. What is income tax? How does income tax work? Who has to file income tax?

article thumbnail

Milestones for S Corporation Election

CPA Practice

For example, it makes sense to suggest electing S Corp status to your clients when their self-employment tax burden exceeds the tax burden if the corporation converted to an S Corp. Other factors to consider include which states do or do not recognize S Corps at the state level.

article thumbnail

Steve Padgett’s Three Business Tax Penalties To Avoid When Possible

SkagitCountyTaxServices

With May 17th behind us (though for those in Texas, Louisiana and Oklahama — this was just another day. But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. (Of

article thumbnail

Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies.