Gross receipts taxes- is levied on all sales of a business. They have been criticized for their pyramiding or cascading effect. This when an item is taxed more than once as it makes its way from production to final retail sale Excise taxes- is applied to a narrow range of products such ...
Taxes have an obvious downside for businesses by eating up profits. There's an upside though: taxes pay for police, roads and the schools that educate the workforce. Taxation has other effects too, some of them much more subtle. Making Business Decisions Companies make decisions with an eye...
As opposed to a tax deduction, a tax creditreduces the amount of taxes you owe dollar-for-dollar, which can result in a smaller tax liability or a larger refund. Certain small business owners can claim the credit against theiralternative minimum tax(AMT). Other small businesses, su...
How the EU VAT taxes change under the new rules The most crucial change for U.S. businesses is that any item sold for less than €22 (socks, cleaning tools, small electronics, kids’ toys, etc.) was previously exempt from VAT. After July 1, 2021, all goods priced up to €150 will...
Tax cuts affect individuals differently because of the progressive nature of the tax. Reducing taxes on a family with a smalladjusted gross income(AGI) will save them less in total dollar amounts than a slightly smaller tax cut on a family with a much higher salary. Across-the-board cuts ...
Taxes may be the least favorite topic for small business owners, but it's one of the most important. The steps you take before the end of the tax year can help your business save money almost immediately. At the same time, the beginning of the next tax year is a good time to review...
No one enjoys paying taxes, but being aware of how any federal tax law changes will affect your business enable you to plan and minimize the bite to your bottom line. This workshop will update you on those specific tax code changes affecting small and medium-size businesses so you can ...
Tariffs are taxes imposed on imported goods, often resulting in higher prices for consumers. They can impact various demographics, particularly burdening lower-income consumers and posing challenges for small businesses reliant on imported materials. Tariffs are a considerable aspect when analyzing the his...
If you use a car for work or manage a fleet of corporate vehicles, learn how an OBD2 scanner can help your business save time, money, and resources Small Business Tips When does a small business get a tax refund? If you're a business owner, you must pay estimated taxes quarterly. The...
business or still in the process of outlining your business plan, this beginner’s guide to taxes will explain the ins and outs to simplify the process when tax season comes around. Additionally, you’ll learn about the individual taxes that affect small businesses and how they’re calculated....