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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

Sales 130
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Betting on the Super Bowl? Don’t Forget About Taxes

CPA Practice

Taylor, Kiplinger Consumer News Service (TNS) The Kansas City Chiefs, making their second consecutive appearance, are set to play in Super Bowl LVIII against the San Francisco 49ers. However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. By Kelley R.

Gambling 122
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Kansas City Earnings Tax Refund Requirements Face New Update, Will St. Louis Be Next?

Anders CPA

Kansas City has amended an ordinance which added extra steps to the earnings tax refund process for non-resident taxpayers. The previous ordinance was added in March 2022 and required that non-resident taxpayers file a claim against the city in small claims court in order to apply for an earnings tax refund.

Kansas 52
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What Do Taxes Have to Do with the NBA Finals?

CPA Practice

Taylor, Kiplinger Consumer News Service (TNS) NBA finals Game 2 is in the books, and many people who tuned in to see the Miami Heat tie the series with the Denver Nuggets are probably not wondering what a jock tax is. But the NBA Finals—and other sporting events—are connected to taxes in a big way. What is the jock tax?

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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. Strategic estate and tax planning are paramount to preserving wealth across generations.

Kansas 101
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Think Physics is Hard? Try Self-Employed Tax Liability

CPA Practice

Tax pros are not likely to be confused with Einstein. Yet there are areas of tax practice that are moving from the intuitive to the concrete. tax on the first $160,200 of your 2023 SE income. on all of your SE income. All of this is before your income tax liability. You pay an additional 2.9%

Tax 98
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$1.5 Billion in Unclaimed Tax Refunds from 2019 Set to Expire in July 2023, Says IRS

CPA Practice

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5