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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

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What’s new in sales tax?

TaxConnex

California has the highest statewide sales tax rate, at 7.25%. The lowest non-zero state-level sales tax is in Colorado, which has a rate of 2.9%. Five states follow with 4% rates: Alabama, Georgia, Hawaii, New York and Wyoming. South Dakota cut its state sales tax rate from 4.5%

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Payroll trends to watch in 2022 (Part 1)

ThomsonReuters

Form SS-8 , Determination of Worker Status for Purposes of Federal Employment Taxes and Income Tax Withholding , can also be used to request a worker classification determination. This year in Hawaii, lawmakers have proposed an $18 minimum wage rate increase for all employees in the state by 2026.

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Some States Are Considering Shelving the Grocery Tax

CPA Practice

Grocery taxes that remain are “there for a reason. They’re needed as part of the revenue system, or because [elected officials] would rather cut other taxes,” such as the income tax, Auxier said. Tennessee, which dropped its grocery sales tax from 5% to 4% in 2017, lifted the tax for a month last August.

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