Accelerating your charitable contributions is known as a “bunching” strategy, where taxpayers combine two or more years’ worth of charitable contributions into one tax year to take advantage of a higher tax-deduction ...
Some of the wackiest sales tax tales in 2019 centered on remote sales tax. States won the right to tax remote sales only recently, with the United States Supreme Court decision on South Dakota v. Wayfair, Inc. (June 21, 2018) — and implementation ...
Last year at this time, Missouri lawmakers introduced a couple of bills relating to remote sales tax. Both sought to implement economic nexus, requiring out-of-state vendors with a certain amount of sales in the state to collect and remit sales tax.
A bill extending certain tax credits and deductions for medical deductions, FMLA, tuition, mortgage insurance premiums, and other issues passed Congress and is expected to be signed into law by President Trump before Christmas.
It may seem an unorthodox gift during the holidays, but taxpayers who will owe taxes when they file their Form 1040 by April 15 can take a proactive step to lower what that payment will be: By paying some or all of it early.
The new legislation is expected to be signed by President Trump soon after it hits his desk. Keeping that in mind, here are some of the key extensions granted by Congress right before Christmas.
The Treasury Department and Internal Revenue Service issued proposed regulations to reflect changes from the Tax Cuts and Jobs Act (TCJA) on the tax deductibility of officers’ compensation by publicly held corporations.
The new tax bill, as the name suggests, looks to reform the IRS in favor of taxpayer experience and outlines a robust list of systemic changes to the U.S. tax organization.