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Sales tax holidays and taxability of clothing/back to school (part 2)

TaxConnex

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. Iowa , Aug. School supplies for use in standard, general-education classrooms must be under $30 per unit. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. Retailers are not required to participate.

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State-by-State Guide to Back-to-School Sales Tax Holidays

CPA Practice

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Does Summer Camp Qualify for a Childcare Tax Credit?

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Some Republicans Crack Open Door to Child Tax Credit Deal

CPA Practice

By Laura Weiss, CQ-Roll Call (TNS) Some House Republicans defending vulnerable seats in the 2024 elections are working on an expansion of the child tax credit and view it as a priority in discussions about broader tax legislation this fall. An impasse on if or how to bolster the benefit has now held up tax negotiations for a year.

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Congrats to Xero’s 2022 NABA Scholarship recipient

Xero

I am originally from Naperville, Illinois and I’m currently a senior studying accounting and business analytics at the Tippie College of Business at the University of Iowa. This summer, I am working at Deloitte as a Business Tax Services Intern in their Chicago office. Tell us a bit about yourself.

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Friday Footnotes: KPMG Client’s Spectacular Failure; PwC Gets Defensive; Kids Doing Taxes | 3.10.23

Going Concern

Deloitte, EY Offer Competing Tools to Curb Carbon Emissions [ Bloomberg Tax ] Big Four rivals Deloitte and Ernst & Young announced Wednesday similar offerings to help companies weigh options to reduce their emissions of planet-warming greenhouse gases. deficit grows to $262 billion in February as tax refunds surge [ Reuters ] The U.S.

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Tax-Free States? Pay No Income Tax in These 9 Tax-Friendly States!

LyfeAccounting

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? But wait a minute… how are states funding things without state taxes?

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Friday Footnotes: PwC Isn’t Getting a Redemption; Just Say No to NOCLAR; Oh, Layoffs? | 3.15.24

Going Concern

Bill to let state agencies bypass State Auditor and hire private CPAs tabled [ RadioIowa ] A bill that would have let state agency budgets be audited by private CPA firms rather than the State Auditor’s Office has stalled in the Iowa House. Education Sen. Fifty-one percent oppose the proposal, compared with 43% who are in favor.

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