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

CPA Practice

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. So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. And income from gambling winnings is taxable.

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Oklahoma Man Pleads Guilty to Employment Tax Scheme

CPA Practice

An Oklahoma man pleaded guilty yesterday to willfully failing to pay employment taxes withheld from his employees’ wages. in Adair, Oklahoma. White filed a Form 941 for the first quarter of 2016, but intentionally did not pay over approximately $31,010 in taxes withheld from employees’ paychecks. Attorney Clinton J.

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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. People face a July 17 deadline to file their returns.

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More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

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Key State Tax Changes for 2024

CPA Practice

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. From gas taxes to property tax amendments and income tax cuts, being aware of these changes is crucial since state and local taxes are among the highest taxes most people pay.

Tax 128
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State Legislative Update: Tax Relief Opportunities and New Tax Obligations Enacted in 2022

ThomsonReuters

In the middle of a busy legislative season, several states have made important changes in their tax code that practitioners across the nation will want to be aware of in order to service clients who may have multistate needs. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. Florida Sales Tax Holiday.

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware does tax companies. In 2011, Delaware garnered $860 million in taxes and fees from out-of-state business entities incorporated under its laws. With so few taxes, how does Delaware rake it in?