Let’s start with the obvious: you pay your agent 10% commission onyour day or hourly rate of pay. This is all of the money you are paid by the production company to be available to act and to actually do so. You usually are paid for doing some acting during the period you are on...
Yet in states without a sales tax or a use tax, such as Montana and Oregon, government revenue must come from other sources such as property taxes, income taxes, and administrative fees. When do you pay use tax? Each state has its own laws governing when to pay use tax. Many allow ...
For the majority of states that do apply sales tax, the sales tax rate can vary within state lines. There are 38 states that allow local governments to impose their own general sales taxes, in addition to the state general sales tax. Alaska is an exception, as the state does not levy...
Do I need to file Form 1099-K with my tax return? You don’t actually file the 1099-K itself with your return. The payment processor has already sent a copy to the IRS. Your job is to make sure the income reported on the 1099-K is included in your total income on your tax retur...
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When it comes to reducing your taxable income, itemizing your deductions can really maximize your tax savings.
I was making, say, £700 on seven sales. It just added up to the point where I had to pay tax. I had to pay more tax than I could afford, and I stopped selling because it wiped out the profit margins that I was making as a reseller. Felix: So you mentioned that you owned ...
Sales Tax for E-commerce: What Small Businesses Need to Know W-9 vs. 1099: What’s the Difference? How to Choose the Best Legal Structure for Your Business In partnership with,presents the b. newsletter: Building Better Businesses Insights on business strategy and culture, right to your inbo...
Four U.S. states do not have any sales taxes, while a fifth—Alaska—has no statewide sales tax. Outside the United States, many countries impose a value-added tax rather than a sales tax. Understanding Sales Tax Conventional or retail sales taxes are only charged to theend userof a good...
Sales and use taxes are consumption taxes added to the prices charged for goods and services. These are collected by the sellers or service providers who must pay them directly to the government imposing the tax. Most of these taxes apply only to the amount charged to the ultimate consumer of...