Opening up the business of your choice is not a walk in the park. It is not enough that you have the necessary capital to invest in the type of shop or store that you have been planning...
Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
It is a common saying that there is nothing as certain as death and taxes. However, the issue with taxes is the inconsistency and the complication. Also, tax is not as old as human...
Trade by barter is an ancient means of transaction in which people exchange goods for goods without money. These days, business exchange services with each other in a barter...
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
Background. Effective for each tax year beginning after December 31, 2017, an ATEO is generally subject to a special tax (currently 21%) on the amount of any employee's overcompensation...
What is the Internal Revenue Code?The Internal Revenue Code refers to Title 26 of the United States Code. "Formal consolidation and codification of the United States' general...
The Internal Revenue Code (IRC) talks about Title 26 of the U.S. Code. It is commonly called IRS Code or IRS tax code with laws enforced by the Internal Revenue Service. The United...
Posted by Elliot Kravitz, ATP on 08/28/2020
A sales tax is a consumption tax exacted by the government for the sale of goods or services. An established sales tax is levied at the store, collected by the retailer, and sent to...
Posted by Tim Thompson CPA PLLC on 07/16/2020