All the other accounting is work that the tax laws have always required - keeping track of income, costs, expenses and reporting your business activity to the IRS - has not changed. Why do you think the 1099-K will add a lot more work? P.S. making it harder for people to cheat on...
For now, businesses are not required to file […] By Linkenheimer LLP|December 6th, 2024|business, corporation, New Tax Laws, News|0 Comments Read More Upcoming Beneficial Ownership Reporting Requirement under the Corporate Transparency Act (CTA) Starting January 1, 2024, most U.S. entities...
But in the end, it seems the current laws were retained for both of these and other tax laws that affect real estate investing. The National Association of Realtors have a nice summary of how the tax law affects real estate:https://www.nar.realtor/taxes/tax-reform/the-tax-cuts-and-jobs...
either temporarily or permanently. There are some tax implications if you have been living in a different state. Most states will require you to pay taxes outside of your home state if you have resided there for more than 6 months. State tax laws vary depending on the state. Some states,...
New Year Brings New Laws for New York Employers: 2021 Recap and 2022 Preview Insights 12.28.21 Year two of the COVID-19 pandemic brought many new legislative changes for New York employers, altering the landscape around workplace safety, employee pay, leave benefits, protected classes and acti...
China will scale up tax and fee cuts next year to support struggling businesses, after reducing an estimated 1 trillion yuan ($156.9 billion) worth of taxes and fees for the whole of 2021, the Ministry of Finance said on Monday. The ministry will step up policy support for hard-hit smalle...
If, however, your taxes are more complicated or you're facing some new 2020 issues, you might want hire a tax professional. That's the case for many of us this filing season thanks to the new laws enacted in connection withCOVID-19. ...
TAX lawsFrom 1 July 2021, new rules for value-added tax (VAT) on imports of postal and courier items entered into force in the member states of the European Union (EU). With the changes in the tax legislation of the member states, two thresholds for VAT taxation of posta...
According to U.S. tax laws, anyone who qualifies as a "U.S. tax resident" must report their global income, including income from outside the U.S., to the United States. U.S. tax residents are not only U.S. citizens but also include permanent residents (including temporary green card...
The IRS hopes that the new W-4 form will be easier for employees (and employers) to understand. And, the form is supposed to boost tax withholding accuracy.3. Are withholding allowances still gone?Yes, withholding allowances are gone. Employees filling out the 2025 Form W-4 still cannot ...