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Your Tip Earnings and Taxes

TweetShareSharePin0 Shares Your Tip Earnings and Taxes Source: Flickr If you work in a service where you get tips, guess what? The IRS expects you to report them and pay taxes on them. Your Tip Earnings and Taxes The internal revenue service takes a very simple approach to tips. It views all tips you make

Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting

TweetShareSharePin0 Shares by Ulrika Lomas, Tax-News.com, Brussels 12 May 2021 Experts speaking at the UN’s Economic and Social Council’s annual Special Meeting on International Cooperation in Tax Matters concluded that the international community must do more to tackle tax base erosion and profit shifting and offshore tax evasion. Among other pressing topics, tax policy

The Tax Justice Network May 2021 Spanish language podcast, Justicia ImPositiva: Histórica huelga en Colombia, mínima tasa global #59

TweetShareSharePin0 Shares Welcome to our Spanish language podcast and radio programme Justicia ImPositiva with Marcelo Justo and Marta Nuñez, free to download and broadcast on radio networks across Latin America and Spain. ¡Bienvenidos y bienvenidas a nuestro podcast y programa radiofónico! Escuche por su app de podcast favorita. En este programa: La posibilidad de una tasa

The Tax Justice Network May 2021 Spanish language podcast, Justicia ImPositiva: Histórica huelga en Colombia, mínima tasa global #59

TweetShareSharePin0 Shares Welcome to our Spanish language podcast and radio programme Justicia ImPositiva with Marcelo Justo and Marta Nuñez, free to download and broadcast on radio networks across Latin America and Spain. ¡Bienvenidos y bienvenidas a nuestro podcast y programa radiofónico! Escuche por su app de podcast favorita. En este programa: La posibilidad de una tasa

Tax Considerations when Hiring a Nanny

TweetShareSharePin0 Shares Tax Considerations when Hiring a Nanny Source: Flickr To satisfy the IRS and remain a happy law abiding citizen, you’ll need to assume the role of employer and pay employment taxes (Social Security, Medicare, etc. ), report payroll withholdings (taxes, insurance benefits and the like) and of course, make sure that she is

IRS clarifies pandemic relief for dependent care assistance programs

TweetShareSharePin0 Shares With Notice 2021-26, the IRS explained on Monday that dependent care assistance program balances carried forward under temporary COVID-19 relief provisions retain their exclusion from participating employees’ gross income and wages. Dependent care assistance programs, authorized by Sec. 129, allow exclusion from gross income of employee amounts paid or incurred by the employer

Biden’s Tax Plan Could Impact Small Businesses

TweetShareSharePin0 Shares Although the Biden administration’s intention may be to target top firms and earners with its new corporate tax proposals, many small businesses could be impacted by what would be unwise policy considering the disproportionate harm done already by the COVID-19 pandemic. Contrary to the image some may hold of corporations, not all are

Applying For… Or Not Claiming… COVID-19 Relief

TweetShareSharePin0 Shares State and local governments can now apply for federal COVID-19 aid. Yesterday, Treasury opened its application portal for state and local governments. Eligible recipients can apply for grants to help fight COVID-19, replace public revenue lost to the pandemic, offer financial relief to individuals and businesses, and address the public health and economic

Tax Burden on Capital Income: International Comparison

TweetShareSharePin0 Shares Key Findings The taxation of capital—at both the individual and the corporate level—is much debated and affects economic growth by lowering the incentives to save and invest. It is useful to compare capital income taxation across countries; this is not trivial. Countries have many different tax rates, exemptions, and special rules. We compute

Local Taxes

TweetShareSharePin0 Shares Local Taxes Source: Flickr Local taxes are an even further extension of the federal income tax withholding, just on the local level. Businesses that operate in a particular state will generally be able to access information their particular locality through their state’s revenue office. Taxes withheld on the local level will not usually
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