CapataCPA

APRIL 8, 2021

Deducting Meals and Entertainment Expenses While the Tax Cuts and Jobs Act (TCJA) of 2017 eliminated many deductions for business meals and entertainment, there are still some deductions available. The post Deducting Meals and Entertainment Expenses appeared first on CPA firm in Orange County, CA | CAPATA.

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TaxConnex

DECEMBER 7, 2023

There’s always something changing in the world of tax, especially sales tax. Johns County, Florida, received a $750 credit from Amazon after discovering that the marketplace facilitator had been overcharging her for sales tax for more than a decade, news reports said. New York state sales tax collections jumped 2.5%

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TaxConnex

OCTOBER 3, 2023

There’s always something changing in the world of tax, especially sales tax. billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. The other prevalent argument is that sales tax holidays are a way of giving tax relief. “The

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MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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KROST

SEPTEMBER 15, 2023

The Sports & Entertainment Issue highlights some of the hot topics in the sports & entertainment industry including tax issues for athletes, estate & trust planning, Client Accounting Services, and more. The post KROST Industry Magazine: The Sports & Entertainment, Vol. 5 Issue 2, is Now Available!

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Patriot Software

NOVEMBER 2, 2022

For some business owners, spending money on travel and entertainment is inevitable. Whatever your situation, you might be able to claim travel, meals, and entertainment tax deductions. Travel and entertainment You can deduct certain travel and entertainment expenses […] READ MORE.

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CPA Practice

APRIL 5, 2024

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

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TaxConnex

OCTOBER 7, 2021

There’s always something changing in the world of tax, especially sales tax. There are currently five states with no state-level sales tax. Alaska has long heard rumblings of a statewide sales tax. First came the state’s Remote Seller Sales Tax Commission of municipalities banding together to tax sales.

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TaxConnex

FEBRUARY 28, 2023

“Services” are generally not subject to sales tax while tangible personal property generally is subject to sales tax. Kentucky is the latest in terms of taxing specific services. The Bluegrass State looks to expand sales tax on what it calls high-growth services. Get in touch to learn more.

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Accounting Today

MARCH 11, 2024

The Creating Hospitality Economic Enhancement for Restaurants and Servers would provide a tax deduction for bars, restaurants and entertainment venues with draft beer systems.

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MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

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CPA Practice

APRIL 9, 2024

The domestic sales tax landscape in the United States has been in a constant state of flux over the last decade. In fact, the 2023 Vertex End-of-Year Sales Tax Rates and Rules report shows that a total of 444 sales tax rate changes took place across all U.S. States continue to issue new fees, exemptions and tax holidays.

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TaxConnex

JULY 8, 2021

Many states use sales tax holidays to waive or reduce sales tax on various items. Location, location, location is the rule when it comes to sales tax holidays. The holidays may only cover state sales tax but not local sales taxes, as in South Carolina (which, like other states, has no price cap on eligible items).

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Withum

DECEMBER 7, 2023

Are you an athlete or part of a sporting organization looking to navigate the complex world of taxes? Join this on-demand webinar where Withum’s Professional Sports experts and Rocco Scarfone dive into the complex challenges associated with athletes and taxes. Residency rules for tax purposes.

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RogerRossmeisl

APRIL 30, 2024

For example, partners in service partnerships may incur entertainment expenses in developing new client relationships. What’s the tax treatment of such expenses? This is especially likely to occur in service partnerships such as an architecture or law firm. Here are the answers.

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inDinero Tax Tips

AUGUST 29, 2023

Don’t Even Try Deducting These 13 Non-Deductible Business Expenses Frequently Asked Tax Deduction Questions Conclusion What Are the IRS Rules for Non deductible Business Expenses? There are many ways businesses can lower their tax liability. For another example, property taxes on your business’s office space are deductible.

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TaxConnex

AUGUST 19, 2021

In the fall of 2020, I published an article on how the sales tax picture is changing due to COVID-19. Now that we’re over a year into the pandemic, I wanted to provide an update on the sales tax landscape, what predictions have remained the same and what’s changed. sales tax economic nexus on remote sellers. Latest developments.

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KROST

NOVEMBER 9, 2023

The post Understanding the Complexities of Tax for Professional Athletes appeared first on KROST.

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CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? By Gail Cole.

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CPA Practice

JANUARY 31, 2024

citizen and business owner, I really don’t have a problem with paying the taxes I owe. trillion, net , in federal taxes in 2022) goes toward everything from education, transportation and the country’s defense to Social Security, health care and veterans’ benefits. I understand the money the IRS collects (about $4.3 Hire your kids.

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Katz,Sapper&Miller

FEBRUARY 27, 2020

21, the IRS released proposed regulations on the treatment of meals and entertainment expenses based on the modifications imposed when the Tax Cuts and Jobs Act (TCJA) was passed into law. The proposed regulations primarily serve to reinforce and clarify the rules previously established in the TCJA and IRS Notice 2018-76.

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Entertainment Tax 56

CPA Practice

JUNE 5, 2023

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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Withum

MARCH 18, 2024

Withum is excited to share that Lara Waldner , CPA, Team Leader of the Theatre and Entertainment Services Team, has been named on the Broadway Women’s Fund list of Women to Watch on Broadway. The team’s leadership group alone boasts more than 100 combined years of experience in the Theatre and Entertainment space.

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Anders CPA

OCTOBER 2, 2023

About Dan Schindler Dan’s unwavering dedication to his clients has followed him from his first year at the firm as a tax intern through his journey to partner. He also leads operations for the firm’s Sports, Arts & Entertainment Group, representing professional athletes, agents and advisors. Learn more about Dan Schindler.

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CPA Practice

JULY 6, 2023

If the organization that is running the project qualifies as a 501(c)(3) organization under the tax code, the full amount of your contributions is generally tax- deductible within generous annual limits. However, other types of tax-deductible contributions may go in a different direction. That’s a relatively common scenario.

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CPA Practice

FEBRUARY 27, 2024

By William Earl, Variety Entertainment News Service (TNS) The upcoming Lucasfilm theatrical release “The Mandalorian & Grogu” is one of 15 films to secure an estimated $61 million in 2024 production tax incentives through California’s Film and Television Tax Credit Program. 22-24 application period. 22-24 application period.

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BuildYourFirm

MARCH 31, 2020

Episode 066: Look at the Film Industry Tax Credit Business with Irene Waschler. Tune in to this episode when host Hugh Duffy talks with Irene Waschler of Waschler CPA, LLC about how she got started in the film industry tax credit business. Guest Bio: Irene Waschler CPA, Certified Tax Coach. Irene graduated with a B.S.

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CPA Practice

JUNE 20, 2023

By Ethan Shanfeld – Variety Entertainment News Service. Variety (via TNS) Hunter Biden has been charged with illegally possessing a handgun in 2018 as well as two tax misdemeanors, for failing to file and pay taxes on time in 2017 and 2018, according to a court filing by the U.S. Attorney in Delaware.

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Withum

MARCH 15, 2024

Late last week, the Chancellor in the United Kingdom (UK) announced exciting news which the theatre industry welcomed with open arms; a permanent extension for the increased theatre tax relief rates for productions produced in the UK. The extension of the tax relief was announced to also be applicable for film and high-end TV.

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RogerRossmeisl

MAY 16, 2022

So, you can take a customer out for a business meal or order take-out for your team and temporarily write off the entire cost — including the tip, sales tax and any delivery charges.

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MyIRSRelief

OCTOBER 16, 2023

When it comes to navigating the complex world of taxes, understanding deductions and credits is like having a secret treasure map to unlock potential savings. Tax deductions and credits are powerful tools that can help individuals and businesses reduce their tax liabilities, putting more money back in their pockets.

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MyIRSRelief

DECEMBER 1, 2020

As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Below we’ll be listing 6 useful planning tips from tax experts that will help you to save on your business taxes.

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KROST

OCTOBER 7, 2020

Ronique Davis, one of KROST’s Sports & Entertainment Industry experts, recently attended the Entertainment Industry Virtual Conference hosted by CalCPA. Similarly, most industries have been impacted, and the sports and entertainment industry is one that continues to feel that impact. Entertainment Considerations.

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CPA Practice

MARCH 5, 2024

Americans hate paying taxes. Maybe it’s because taxes are one of life’s certainties , along with death. The latest tax survey from WalletHub revealed that some Americans are so intent on not paying taxes that they would entertain some bizarre options for a tax-free life. Data courtesy of WalletHub.

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Tax Entertainment audit Government 52

CPA Practice

APRIL 25, 2024

The domestic sales tax landscape in the United States has been in a constant state of flux over the last decade. In fact, the 2023 Vertex End-of-Year Sales Tax Rates and Rules report shows that a total of 444 sales tax rate changes took place across all U.S. States continue to issue new fees, exemptions and tax holidays.

Sales 52

Sales Tax Minnesota Tennessee 52

CPA Practice

JULY 21, 2023

million) in taxes between 2012 and 2014—will now be investigated for two possible cases of tax evasion from 2018. Spanish authorities first announced the “Hips Don’t Lie” singer was being investigated for possible tax evasion in early 2018. million euros ($13.9

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MyIRSRelief

DECEMBER 1, 2020

As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Below we’ll be listing 6 useful planning tips from tax experts that will help you to save on your business taxes.

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