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federal taxes Archive

Self-Employment Tax

TweetShareSharePin0 SharesSelf-Employment Tax Who must may self-employment tax? If you are self-employed, you will be responsible for self-employment tax. For the purpose of determining self-employment tax, you are self-employed if you are a sole proprietor, an independent contractor, a member of a partnership, or are otherwise in business for yourself. As a self-employed individual you

Keep a Detailed Home Maintenance and Renovation Diary

TweetShareSharePin0 SharesKeep a Detailed Home Maintenance and Renovation Diary Just as it’s important for you to keep detailed records of your home business, your bills, income tax information or medical history, so too is it imperative that you keep a detailed records of all maintenance you perform on your home. After all, it is your

Pension Department

TweetShareSharePin0 SharesPension Department Any business that offers a pension plan needs to have a department that handles all of the details of it. This information is very important because employees are going to have questions. They are going to want to find out how to maximize the amount of money they are building up in

Tampa Tax Attorney: Keeping Tax Records the Right Way

TweetShareSharePin0 SharesTampa Tax Attorney: Keeping Tax Records the Right Way Men are governed by laws not by men. Moreover, almost every aspect of your life is invaded by the laws of the land. From the disposition your properties, to the expected norms in the society and eventually to the manner of paying tax contributions, no

Alaska Vapor Tax Proposal: Poor Excise Tax Design

TweetShareSharePin0 Shares A proposal to introduce a wholesale tax on vapor products in Alaska could make switching from combustible tobacco products very expensive for smokers. If enacted, HB 110 (SB 45) would, among other things, impose a 75 percent wholesale tax on nicotine vapor products (including components)—a rate comparable to the rate on other tobacco

Flipping Has Tax Consequences

TweetShareSharePin0 SharesFlipping Has Tax Consequences If you are looking at making a quick hundred-thousand on real estate flipping, you may find it is quick, but not as lucrative as you thought. With housing prices on the rise across the nation, flipping has become the hottest investment trend. You buy a property and quickly resell it

What’s new for 2022 in federal taxes

TweetShareSharePin0 Shares While the Build Back Better Act’s smorgasbord of tax incentives for clean energy, new taxes on large corporations and wealthy individuals, and tax relief for others remains stalled for now in the Senate, 2022 nonetheless dawns with the advent of at least one new tax provision, lapses of a number of others, and

California Health Care Tax Proposal

TweetShareSharePin0 Shares A proposed constitutional amendment (ACA 11) in California would increase taxes by $12,250 per household, roughly doubling the state’s already high tax collections, to fund a first-in-the-nation single-payer health-care system. The top marginal rate on wage income would soar to 18.05 percent—nationally, the median top marginal rate is 5.3 percent—and the state would
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