Yellen’s grand global corporate tax plan risks Congress flop

Accounting Today

Janet Yellen Corporate taxes International taxes Biden Administration Tax

What is corporation tax in the UK?

Wellers Accounting

Beth Whitmore FCCA explains exactly what corporation tax means for your business and the reliefs and allowances you need to explore.

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Top 6 Countries with the Highest Corporate Tax Rates

GlobalUpside

Top 6 Countries with the Highest Corporate Tax Rates . As global expansion and virtual workforces become more common, businesses want to know the top countries with the highest corporate tax rates. There are two methods of corporate taxation in Brazil.

Netherlands Reduces Corporate Tax for Small Businesses

GlobalUpside

The Netherlands reduces corporate tax for small businesses with new budget proposals. Personal income tax rates. The income tax rate on incomes of up to EUR 68,507 will be lowered from 37.35% to 37.10% in 2021. Blog Netherlands budget corporate tax

4% Corporate Tax Rate for Businesses

BuildYourFirm

What business owner would not be interested in a 4% corporate tax rate, zero capital gains, and zero dividends tax? Puerto Rico has been willing to supply a lucrative tax incentives because it needs money from business owners and investors here in the US.

Biden’s Corporate Tax Proposals

Withum

Articles Tax Policy Election

Senate bill would deny tax breaks to cos. operating in Russia

Accounting Today

Corporate taxes International taxes Tax Ron Wyden Tax breaks

Yellen fails to win Poland pledge to remove hold on tax deal

Accounting Today

Janet Yellen Corporate taxes International taxes Biden Administration Tax

Corporate tax provision software and risk mitigation

ThomsonReuters

How to mitigate risks with tax software. Corporate tax teams are facing an array of risks, new and old, that complicate their ability to deliver an accurate and defendable tax provision within an ever-shrinking financial close window.

How Pilot Is Innovating Corporate Taxes For Millennial-Run Businesses

PYMNTS

Tax season frustrations can blossom into real financial problems, especially when refunds are paper checks sent through postal mail. Pilot offers business clients — including eCommerce companies and technology startups — bookkeeping, corporate payment and tax services, he added.

Abbott faces Senate probe tying formula shortage to tax cut, buybacks

Accounting Today

Corporate taxes Tax rates Tax Ron Wyden Pharmaceuticals

Avalara debuts Transfer Pricing Reports for Accountants

Accounting Today

Corporate taxes Compliance Technology Hardware and software

Sen. Warren Proposes 7 Percent Corporate Tax Law

PYMNTS

Elizabeth Warren announced her vision for a revamped corporate tax law, The Wall Street Journal reported Thursday (April 11), an initiative that could raise $1 trillion over 10 years. Reports said Warren announced her Real Corporate Profits Tax, proposed legislation that would include a 7 percent tax on the largest U.S. corporations and heighten overall corporate tax collections by 30 percent over a decade.

Corporate Tax Professionals Prepare for a Successful 2022

ThomsonReuters

Corporate tax departments get set to take on the new year, and a key challenge is maintaining stability in an environment of continual change and uncertainty. Growing digital demands from increasingly sophisticated tax authorities around the world.

Crypto Fails To Impress For Corporate Tax Payments

PYMNTS

to allow businesses to pay their corporate taxes in bitcoin. Ohio’s effort signaled a renewed push for corporate adoption of cryptocurrency. While B2B use cases of blockchain are plenty (and gaining greater traction in use cases such as trade finance and cross-border corporate payments), adoption of bitcoin and other cryptocurrencies themselves remains muted in the business community.

Green New Tax – How a Corporate Tax Hike Will Hurt the Cannabis Industry

Withum

Articles

7 steps for an accurate and successful corporate tax return filing

ThomsonReuters

As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities.

Corporate Tax Filing Deadline 2021 and Year-end Tax Planning Tips

FusionCPA

It's that time of the year again where businesses are preparing their end-of-year tax. Corporate income tax is the third largest source of revenue for the federal government. US corporations are taxed at a rate of 21 percent by the United States government.

2021 Stop Tax Haven Abuse Act Targets Corporate Tax Loopholes

Withum

Articles

New Jersey Corporate Tax Overhaul: 2019 Planning Considerations

Katz,Sapper&Miller

The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. In 2018, New Jersey Gov. Phil Murphy signed Assembly Bill No. 4202 into law.

Bookkeeping Fundamentals for Small Business Owners

DuctTapeMarketing

Prepare the books for tax season. Setting up your chart of accounts to be tax-ready from the start will help you with tax saving opportunities and help you prepare for your tax liabilities, with no surprises. They’ll partner you with a dedicated accounting team and provide three simple monthly rates that include your bookkeeping, sales tax, planning support, corporate tax return, and unlimited access to your dedicated CPA team.

Is the Spring Statement 2022 the start of tax cuts?

Wellers Accounting

Tom Biggs ACA CTA , summarises Chancellor, Rishi Sunak's key announcements from the Spring Statement.

End of tax year planning strategies for 2021/22

Wellers Accounting

Tom Biggs ACA CTA , highlights the different considerations and strategies that need to be reviewed for effective end of year tax planning.

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How Do I Pay Myself and My Taxes as an S-Corporation?

xendoo

When businesses are born, business owners are likely not daydreaming about taxes and payroll. Yet, they still face the unique challenge of figuring out how to pay themselves, file their taxes, and maximize their tax savings. Like most things involving taxes, it gets complicated.

tax 77

GOP’s Corporate Tax Break May Be Phased Out After A Decade, Source Says

PYMNTS

The GOP released its tax plan Thursday (Nov. 2), offering a glimpse into its Tax Cuts and Jobs Act that includes plans for corporate taxes. According to reports in The New York Times , Republican tax reform efforts would impose a minimum global tax of 10 percent for American multinational corporations. The corporate or business tax rate would also be cut from 35 percent to 20 percent according to the new plan.

CEOs To Biden: Easy Does It On Regulation, Don’t Raise Corporate Taxes

PYMNTS

In separate interviews unrelated to the WSJ conference, Washington observers and other policy experts have indicated that increasing corporate taxes — one of the potential moves the CEOs opposed — may be high on Biden's agenda. Regulation Government News regulations taxes What's Hot

Tax Basis for Inherited or Gifted Property: Implications for S Corporations and Partnerships

CTP

In a previous blog, we discussed tax basis—the amount that a taxpayer has invested in business assets, which determines the gain or loss when the asset is sold. Remember that a taxpayer must have sufficient basis to deduct a business loss on their tax return.

Overcoming Limits to Tax Deductions for S Corporation or Partnership Losses

CTP

Understanding tax basis is key to maximizing tax deductions, especially for shareholders or partners involved in an S corporation or partnership. The post Overcoming Limits to Tax Deductions for S Corporation or Partnership Losses appeared first on certifiedtaxcoach.

tax 52

Save Thousands on Taxes With an S-Corp Election

SingleTrackAccounting

An alarming amount of business owners are not taking advantage of a major federal tax saving filing status, s-corporation. You are probably overpaying your taxes. . Let’s dive into how an s-corporation (s-corp for short) works. tax on your business profits! .

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How Do I Pay Myself and My Taxes as a C-Corporation?

xendoo

How do I pay my business’s taxes? . That is why the Xendoo team has created this guide to help you navigate self-payment and taxes as a C-Corporation owner! How to Pay Yourself as a C-Corporation: Salary or Dividends . How Do I Pay My Taxes as a C-Corporation?

tax 52

Indirect tax professionals foresee challenges in digitized tax filing and real-time remittance, survey finds

ThomsonReuters

Indirect tax specialists in North America and Europe expect to see more digitized tax filing and real-time remittance requirements in the next two years — and they lack the technology and operational processes to meet these demands. Only 32% use indirect tax compliance technology.

tax 52

Indirect tax teams face resource constraints and talent gaps in new survey

ThomsonReuters

Nearly half of the corporate tax departments participating in a new survey say they are under-resourced — and the problem is more pronounced among companies in North America than in Europe. The report is based on a survey of 821 tax specialists.

tax 52

Multijurisdictional demands increase operational and technological pressure on indirect tax teams

ThomsonReuters

Even COVID-19 hasn’t derailed the march of globalization as multinational corporations continue to chase opportunities across borders — which requires their indirect tax teams to keep up with compliance obligations across multiple jurisdictions.

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Indirect tax automation: Practical tips for companies beginning a tax transformation journey

ThomsonReuters

Not all companies think about indirect tax automation in the same way, and different companies are at different stages in their technological journey. Watch our free on-demand webinar, Taking tax automation to the next level: Practical tips for automated companies.

tax 52

G20 To Close Tax Loopholes For Big Tech By Next Year

PYMNTS

The Group of 20 finance ministers said over the weekend that they will come up with common rules to prevent tech companies from using tactics to lower taxes. Reuters, citing a communique issued by the Group of 20 finance ministers, reported that the moves are aimed at having big tech companies including Facebook, Google and Amazon pay more taxes after facing criticism they reduce the taxes owed by showing profits in low-tax countries regardless of where the customer is located. “We

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Business Spending Buoyant In October

PYMNTS

Core capital goods shipments have been increasing since February, partly due to expectations that Republicans will push through hefty corporate tax cuts. With the passage of a corporate tax cut becoming more possible, the likelihood is that future business capital spending should be strong,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. Despite new orders for key U.S.-made

IRS Questioned Over Corporate Auditing Lag

PYMNTS

Treasury Inspector General for Tax Administration is calling into question the Internal Revenue Service’s corporate auditing performance. 24) that a report from the Treasury Inspector General for Tax Administration claims the IRS is not effectively auditing corporations following tax examination reform that was designed to accelerate auditing processes. Finance predicting more IRS tax reforms ahead. The U.S.

audit 40

New Tax Law Targets Corporates’ Cross-Border Payments

PYMNTS

A new tax introduced as part of broader reform in the U.S. is frustrating multinational corporations, according to Tuesday (June 26) reports in The Wall Street Journal. The BEAT Tax, short for the Base Erosion and Anti-Abuse Tax, is designed to prevent businesses from moving their U.S. Large enterprises, including Accenture and Western Union, are already warning shareholders that finances may take a hit as a result of BEAT tax, reports noted.

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The Comprehensive Guide to Permanent Establishment

GlobalUpside

If these business activities generate local revenue, the host country can impose corporate taxes at the local rate. Tax Overview. The Comprehensive Guide to Permanent Establishment.

IKEA Sets Prices Lower Ahead Of Store Launch In India

PYMNTS

Retail corporate taxes furniture home furnishings Hyderabad Ikea india News What's HotIKEA has priced its furniture even lower in India to lure customers to its first store in the country this week. The company is pulling out all the stops to make the store a success, including having a 150-person assembly team at the Hyderabad location , after research showed that many consumers in the local market would not want to assemble furniture on their own.