The Pennsylvania legislature is considering sweeping changes in their states sales tax laws that would lower the tax rate from 6% to 4%, but add over 70 goods and services to the list of items subject to sales tax.
morePosted by: Wray Rives, March 5, 2010
The IRS estimates that it is holding over $1.3 billion (that's right I said billion dollars) in income tax deposits for individuals that did not file a tax return in 2006. $1.3 billion from just one year and those folks don't have much longer to claim their money.
morePosted by: Wray Rives, March 3, 2010
Comments: 3
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General tax structure - 6.5% of federal taxable income, subject to state specific adjustments.
All taxable real and personal property is assessed on the local level at the county courthouse with the assessing official.
Businesses which [...]
Posted by: Wray Rives, March 1, 2010
General tax structure - Corporate Income Tax is 6.968% of taxable income or $50, whichever is greater.
Personal Property Tax is reported to local county assessor’s office. Businesses must list all personal property (other than motor vehicles) used in the business.
Businesses which pay employees must register with the state and pay state unemployment and withholding [...]
morePosted by: Wray Rives,
General tax structure- Alaska levies a corporate income tax on Alaska taxable income which is based on federal taxable income with certain Alaska adjustments. Multistate corporations apportion income on a water's edge basis using the standard apportionment formula of property, payroll and sales. Oil and gas corporations use a modified apportionment formula applied to worldwide [...]
morePosted by: Wray Rives,
If you have designed and created software, such as an iPhone app, the IRS tends to favor that over the purchase of software. You might even be designing accounting software that makes the tax season of everyone involved a little easier (*ahem*).
Other than the computer itself (which is deductible as Office Equipment Expense), any costs [...]
Posted by: Lisa Shaw, February 24, 2010
Even in this electronic age, we still use pencils. Sure, artists who sketch with them (supplies) and accountants who chew on them (meals and entertainment?) probably make up the bulk of demand, and let's not forget those scantron tests students take with good old Number 2, but we all have a few lying around [...]
morePosted by: Paul O'Brien, February 22, 2010
You use your vehicle for business-related purposes such as sales calls, transporting the children or elderly you care for, or delivering Avon products; you live in an area with a snowy winter (which in 2009/2010 seems to be most anywhere). Your vehicle needs to be road-worthy for the driving conditions, and your mechanic or mother [...]
morePosted by: Lisa Shaw, February 20, 2010
Cost of goods sold can be a difficult concept for small businesses. Cost of Goods Sold is the cost to produce or acquire the products that you sell.
morePosted by: Wray Rives, February 19, 2010
It is expected that a piece of equipment's value will begin to decline "as soon as it leaves the lot." (This is why items like rare coins or gems are not able to be listed as depreciated items, if that's your line of work, since they tend to increase in value over time).
The IRS [...]
Posted by: Lisa Shaw, February 14, 2010
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