-Section 179 is a tax code created to help businesses. By allowing businesses to deduct the full amount of the purchase price of equipment (up to certain limits). –Section 179 is valid on most types of equipment. There is little sense in allowing a deduction on only obscure equipment, so...
The Affordable Care Act makes it a shared responsibility of individuals, employers and government to ensure that as many people as possible have health insurance. The law does not require all U.S. employers to offer health insurance to their workers. Rat
Each SAC is a six-digit code that systematically categorizes services, ensuring clarity and consistency in tax reporting. For example, SAC code 997212 covers rental or leasing services involving owned or leased non-residential property. Breaking it down: The initial “99” refers to services. The...
An electronic invoice is a legal and fiscal substitute for the paper invoice, providing special security conditions to guarantee integrity and authenticity. Learning Center What is EDI? What is an electronic invoice? What is an electronic tax declaration? What is GS1? What is the eIDAS Regulation...
What is a Harmonized System (HS) Code? The Harmonized System classification is a six-digit standard, called a subheading, for classifying globally traded products. HS codes, also called HS numbers, are used by customs authorities around the world to identify the duty and tax rates for specific...
Using the correct HS code and the right interpretation is of utmost importance, as usage of incorrect code may be considered by customs as non-compliance, misleading or misdeclaration – each of which comes with its associated penalties. Using the correct HS code can be quite tricky in ...
A Unique Transaction Reference (UTR) is an alphanumeric code used in banking and financial services to identify and track individual financial transactions, ensuring each transaction is distinct. In contrast, a Unique Taxpayer Reference (UTR) is a ten-digit number assigned by tax authorities, such...
Are you thinking about making the switch to solar but don’t know how to apply for the Federal Solar Tax Credit? Or do you have questions about your eligibility? It’s simpler than you think… Read on to find out. What Is The 30% Solar Tax Credit?
If the TCJA is not renewed after 2025, many Americans will face tax increases. The Bottom Line The Tax Cuts and Jobs Act (TCJA) was a major tax code overhaul signed into law in 2018 by President Trump in his first term. TCJA cut taxes for shareholders and individual taxpayers alike. How...
The Tax Cuts and Jobs Act (TCJA) was a major tax code overhaul signed into law in 2018 by President Trump in his first term. TCJA cut taxes for shareholders and individual taxpayers alike. However, cuts for individuals expire in 2025 unless the Act is extended. ...