The gaming industry is booming. New sports betting parlors and casinos are popping up all over the country, Las Vegas is booming, lotteries and betting parlors are popular, and online...
Posted by Dennis Jao on 07/01/2022
You are responsible for personal and business taxes as a small business owner. There are two types of taxes: direct and indirect. What differentiates these two groups? Indirect and...
Tax season has many people wondering what itemized deductions are and their role in tax preparation. Itemized deductions offer an alternative to standard deductions and can reduce...
Posted by Rosovich & Associates, Inc. on 06/24/2022
An overviewBefore claiming gambling losses in income taxes, you must declare gambling winnings as income. Here's all you need to know in a nutshell: You can deduct gambling losses...
Posted by Abundant Wealth Planning LLC on 04/30/2022
The U.S. Supreme Court ruled in Comptroller of the Treasury of Maryland v. Wynne in 2015 that two states cannot tax the same taxpayer on the same income. But this decision is subject...
Posted by Abundant Wealth Planning LLC on 03/24/2022
Indirect business taxes, sometimes referred to as hidden taxes, are taxes that can be passed on to customers by being incorporated into a higher price. They are not added to the price...
Posted by Abundant Wealth Planning LLC on 01/01/2022
The American casino industry is booming. New casinos and sports betting are popping up across the country, Las Vegas is booming, lotteries are popular, and online gambling is great....
Posted by Income Taxes and Bookkeeping LLC on 12/27/2021
The TCJA (Tax Cuts and Jobs Act of 2017), PL 115-97, made many important changes to the Internal Revenue Code. Among the many changes to the Code, there is a provision on costs associated...
Posted by Taxes Made EZ Inc on 12/10/2021
As a small business owner, you want to know the type of taxes you should pay, and an excise tax is one of such taxes. Excise taxes are the extra tax added to particular products or...
Posted by KLSM CPA Firm PLLC on 10/09/2021