Accounting
Six Reasons Why Trump’s Plan To Delay Tax Filing Won’t Help The Coronavirus Economy
President Trump says he wants to allow “certain” people and businesses to delay tax filing in an apparent effort to stabilize the economy in the…
Read MoreComparison of Cross-Border Effective Average Tax Rates in Europe and G7 Countries
Key Findings Effective Average Tax Rates (EATRs) on domestic and cross-border investment can influence business decisions and overall investment activity. This report provides a summary of domestic as well as cross-border EATRs—for both inbound and outbound investments—among 32 countries in Europe and the Group of Seven (G7) countries. Over the last decade EATRs on cross-border…
Read MoreTrump calls for deferral of tax payments for coronavirus victims
President Trump said in an Oval Office address Wednesday night that he would allow individuals and businesses to “defer tax payments without interest or penalties” and he urged Congress to cut payroll taxes as part of a set of measures aimed at providing relief during the coronavirus pandemic. Original Article Posted at : https://www.accountingtoday.com/news/trump-calls-for-deferral-of-tax-payments-for-coronavirus-victims
Read MoreA History and Analysis of Payroll Tax Holidays
As Congress and the White House consider ways to shore up the economy in the face of a public health crisis, President Donald Trump has suggested suspending the entire payroll tax for the duration of the year. This would cost about $950 billion if the tax is suspended between April 1 and December 31, and…
Read MoreBiggest tax procrastinators found in California and Las Vegas
The states with the most tax-filing procrastinators are California and Nevada, while Las Vegas and Denver were the top cities for those who wait until the last minute, according to a new survey. Original Article Posted at : https://www.accountingtoday.com/news/biggest-tax-procrastinators-found-in-california-and-las-vegas
Read MoreSanders’s tax-the-rich plan is 2800% larger than Biden’s
Former Vice President Joe Biden wants to raise taxes on the wealthy. Senator Bernie Sanders wants to send those levies off the charts. Original Article Posted at : https://www.accountingtoday.com/articles/sanderss-tax-the-rich-plan-is-2800-larger-than-bidens
Read MoreTax season guide to small business expense deductions
BUSINESSADVERTISER DISCLOSURE From the kind of expenses you can – and can’t – deduct to the right rewards card to use to pay for deductible expenses, here’s everything you should know. by Rebecca Lake March 9, 2020 see original article at Creditcards.com Summary Claiming deductions can save your business money on your tax return, but you…
Read MoreAICPA asks IRS for QBI deduction guidance
The American Institute of CPAs has submitted comments to the Internal Revenue Service and the Treasury Department asking them for more guidance on the qualified business income deduction in the Tax Cuts and Jobs Act. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-asks-irs-for-qbi-deduction-guidance
Read MoreCharitable Giving Appears To Have Fallen In 2018, Despite Treasury Claims
On March 3, the Treasury Department put out a press release saying that 2018’s charitable giving “appeared largely unchanged from previous years,” despite a “concern…
Read More