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federal taxes Archive

3 Tax Lessons Learned From The Pandemic

TweetShareSharePin0 SharesThere are so many tax lessons to be learned due to the viral pandemic that it’s rather hard to narrow the list down to the top three. However, we’ll give our best attempt in this article. Before getting to the list though let’s send out a huge thank you to all the tax professionals

State and Local Sales Tax Rates, Midyear 2021

TweetShareSharePin0 Shares Key Findings Forty-five states and the District of Columbia collect statewide sales taxes. Local sales taxes are collected in 38 states. In some cases, they can rival or even exceed state rates. The five states with the highest average combined state and local sales tax rates are Louisiana (9.55 percent), Tennessee (9.547 percent),

Controlled Foreign Corporation: CFC Rules in Europe

TweetShareSharePin0 Shares Businesses around the world often operate in more than one country, making them subject to multiple tax jurisdictions. To prevent businesses from minimizing their tax liability by taking advantage of cross-country differences, countries have implemented various anti-tax avoidance measures, such as the so-called Controlled Foreign Corporation (CFC) rules. Controlled Foreign Corporation rules apply to

Corporation Tax Burdens: Property Taxes & Sales Taxes

TweetShareSharePin0 Shares When most people think about “business taxes,” the corporate income tax is usually the first that comes to mind. Corporate income taxes generate sizable tax burdens for businesses—especially at the federal level—but at the state level, the corporate income tax is just one of many taxes businesses pay. For many companies, state corporate

Understanding REOs

TweetShareSharePin0 SharesUnderstanding REOs If you are getting involved with real estate you may have heard the term REO without really knowing what it refers to and how it could play a part in your current or future investments. REO is actually just an acronym that stands for real estate owned by the bank. REOs aren’t

Do I Have To Pay Taxes?

TweetShareSharePin0 SharesDo I Have To Pay Taxes? Taxes – And Your Online Business (Do I Have To Pay Taxes?) Perhaps the most common misconceptions about taxes and your online business is that the two are not related to each other. Most people think that online businesses are not really taxed that’s why more and more

How Should Congress Fund Investments in The Internal Revenue Service’s Infrastructure?

TweetShareSharePin0 Shares Congress is moving toward rectifying the decade-long funding crisis at the IRS. The House is on track to adopt President Biden’s proposed $1.6 billion budget increase from the 2021 level (not counting the funds in COVID relief legislation). And the infrastructure framework agreed to by the president and a bipartisan group of senators
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