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Understanding Estate Planning Will Help Limit Your Tax Liability

CPA Practice

By Tylor Willis, CFP, The Kansas City Star (TNS) Most of us want to preserve or grow our wealth. One crucial aspect of wealth management is creating a holistic financial plan that includes your estate and tax strategy. ©2023 The Kansas City Star. Here are four strategies to consider adding to your financial plan.

Kansas 101
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Friday Footnotes: A Billion Dollar AI Audit Startup; Oops, All Independence Violations!; Bipartisan Tax Vote | 2.2.23

Going Concern

In the middle of a busy tax season, it would only take a few seconds—and just one click. The $78 billion tax package was sent to the Senate on a vote of 357 to 70, with strong support from both Republicans and Democrats. a Houston-based tax and accounting firm. The email looked legitimate and hit all the right notes.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

Tax credits State legislators are looking to offer businesses tax incentives for certain benefits to employees. While House Bill 1192 proposes a more modest and gradual approach until the minimum wage reaches $12.10 per hour by 2027. Yet another bill ( Senate Bill 366 ) looks to increase the minimum wage to $13 per hour.

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Friday Footnotes: Anyone Wanna Work in Hollywood?; Profit-Hungry CEOs Love Gen AI; KPMG’s SF Future | 1.19.24

Going Concern

News Trinity Hunt Partners Announces Formation of Springline Advisory and Welcomes CEO Tim Brackney [ PR Newswire ] Springline was initially formed through a partnership with MarksNelson, an “IPA 200” accounting and advisory firm headquartered in Kansas City. Arizona Auditors Found $1.8

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Lodging Tax Insanity — So Many Ways to Tax Accommodations

CPA Practice

But when it comes to lodging taxes, marketplace facilitator laws can be confoundingly … confounding. States are starting to clarify whether and to what extent their marketplace facilitator laws apply to accommodation providers.

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How Online Sales Tax Impacts Different eCommerce Models

PYMNTS

States can now tax sales by companies that do not have a physical presence within the state. One state might tax a product that another excludes from levies, for example, and not all states offer the same small business tax exemptions. Will this increasingly regulated online sales tax environment affect this growth?

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Online Travel Agencies Face a Virtual World of Tax Obligations

CPA Practice

If the accommodations provider is not registered for sales and use tax in Michigan, as some short-term rental hosts are not, the online travel agency that facilitates the sale generally is required to collect and remit the tax due on the net rate. At a minimum, the OTA would generally need to pay the tax on their markup.

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