Tax code

Frank Stronach: The serious need for a simplified tax code

Breadcrumb Links Comment NP Our tax system is murky, convoluted, unnecessarily complicated and overly complex Publication date : March 15, 2022 • 3 hours ago • 3 minute read • 8 comments Photo by Chris Young/The Canadian Press Content of the article Canada needs a fully transparent, simple to administer and easy to understand tax […]

Tax regulations

Zelenskyy eases tax regulations amid Russian-Ukrainian war; urges Putin’s forces to surrender

As the Russian-Ukrainian war entered its 20th day on March 15, President Volodymyr Zelenskyy, while fiercely resisting Moscow’s military advances, released another video to boost the morale of Ukrainian troops by listing casualties and damage from Russia. After extending martial law in Ukraine for the next 30 days, Zelenskyy vouched for maximum deregulation of the […]

Tax deductions

2022 Changes to Popular Tax Deductions

The Tax Cuts and Jobs Act (TCJA) has been a game changer for many taxpayers. Notably, the TCJA is suspending or modifying certain deductions while essentially doubling the standard deduction for 2018 through 2025. As a result, millions of taxpayers are no longer itemizing and claiming the standard deduction, at least temporarily. For 2021 filings, […]

Tax deductions

Do you drive for a transportation service? 4 tax deductions you should know about

Image source: Getty Images You could be in line for some serious tax savings. Key points Expenses you incur in a side business may be tax deductible. Car washes, car repairs, passenger amenities, and cell phone bills can all be tax deductible for rideshare drivers. Nowadays, many people are indulging in side businesses to supplement […]

Tax code

Martin Lewis shares tax code advice after man received check for £475 | Personal finance | Finance

On the Martin Lewis Money Show on Tuesday, the financial expert discussed the end of the tax year and what Brits can do to try and save some extra cash. Darren emailed the show to thank the money-saving expert for the ‘tax code tip’ which helped him save £475. He said: ‘I have just received […]

Tax regulations

Kentucky Tax Talk: Inside Louisville’s New Tax Regulations

This article originally appeared in Law360 Tax Authority. When Louisville Metro Revenue Commission, or Metro Revenue, regulations were last changed, Arnold Schwarzenegger had just been elected Governor of California, the United States was on the brink of war with Iraq, and Apple had just to launch its new product, iTunes. Based on what has since […]

Tax regulations

Thai crypto tax regulations have become more lenient

Thai crypto tax regulations have become more lenient since the previous exposure. By using government-approved exchanges, crypto dealers can save 7% on their taxes. Long-term investors in start-ups will also benefit from tax advantages. Tax exemption for cryptocurrency traders Image source: Fx Empire Thailand’s Ministry of Finance has reportedly eased tax restrictions on crypto to […]

Tax laws

“CAs are facilitators in compliance with tax laws”

CA Satish Sarda, CA Dinesh Rathi, CA Rajender Arora, CA Akshay Gulhane, CA Sanjay C Agrawal, CA Kailash Jogani, CA Trupti Bhattad, CA Jiten Saglani, Chairman, CA Swaroopa Wazalwar, CA Abhijit Kelkar, CA Ajay Vaswani, CA Deepak Jethwani and CA Saket Bagdia at the seminar. Business office: ICAI’s WIRC NAGPUR Branch recently hosted a Finance […]

Tax regulations

Income tax regulations in Qatari laws

Introduction: Individuals and entities tend to research and evaluate tax regulations before entering a market, as taxation is considered an important indicator that helps gauge the strength, stability, and attractiveness of any market. Law number (24) of (2018) promulgating a new income tax law replaced law number (21) of (2009) and has been in force […]

Tax deductions

5 Overlooked Tax Deductions for Freelancers | by Citizen Upgrade | March 2022

Save money on your taxes with these business deductions! Photo by StellrWeb on Unsplash Citizen Upgrade is not a registered investment, legal or tax advisor, or broker/dealer. All investment/financial opinions expressed by Citizen Upgrade are derived from the author’s personal research and experience and are intended to serve as educational material for informational purposes only. […]

Tax deductions

A comprehensive guide to tax deductions for UK landlords

Post views: 142 Most of the expenses you incur when renting a home can be deducted from your tax bill as a landlord. Learn how to use them and what you can claim. Expenses an owner can claim Homeowners can generally deduct the costs of operating and maintaining their property, reducing their tax bill. If […]

Tax laws

There is a general tendency to look for loopholes in tax laws: Secretary of Finance

There is a general tendency to look for loopholes in tax laws: Secretary of Finance Bangalore, 07 Mar (UNI) Noting that industry has a role to play in reducing tax disputes in the country, Union Finance Secretary TV Somanathan said on Monday that there is a general trend in the country to leave no loophole […]

Tax code

A flatter, simpler tax code benefits everyone | Editorial chronicles

Another round of tax reforms was introduced at the State House last week, and chances are it will lower your tax bill. After two measures taken in 2018 — and a third scrapped in 2020 as the global pandemic threatened to wreck state finances — Georgia House management’s new plan would make the tax code […]

Tax deductions

Tax deductions for online business

Small business taxes are like vampires…not the cute vampires you see on TV. Unfortunately, waving a bunch of garlic won’t make them go away. The latest information and advice to help you run your business. However, you can reduce your tax bill by taking as many tax deductions as possible. Tax deductions for online businesses […]

Tax code

Criminal offenses against the tax code

Always file and pay the correct taxes and ensure that all information declared is accurate” is wisdom worth repeating as non-compliance can have disastrous consequences. According to Article 253 of the Tax Code, anyone who violates the provisions of the Code or causes someone to commit an offense, as well as those who voluntarily assisted […]

Tax code

How Texas is using the commercial property tax code to accelerate growth

Everything is bigger in Texas, including the tax code. Unique provisions in a state funded primarily by property taxes give commercial owners more control over how and where local government dollars are spent. The Lone Star State uses more than 200 Tax Revenue Reinvestment Zones (TIRZ, pronounced as turs) to meet the growing appetite for […]

Tax code

A change to the US tax code could solve the housing crisis

A six-word phrase keeps coming up on my Twitter feed: “Land value tax would solve this problem.” In response to the inefficient use of land as parking lots. As a policy of help finance a universal basic income. And even (jokingly) as a prescription for the rise in virginity among young men. The big question […]

Tax deductions

Freelancers can use these expenses to qualify for tax deductions

The daily routine of office work may not be everyone’s cup of tea. Some people like the flexibility and independence of working from anywhere, so they can pursue their other interests, or they just like to avoid a tedious routine. Freelancing suits them, and they can work from the comfort of their home, a coffee […]

Tax regulations

A closer look at tax regulations on crypto payments

For a business of any size, the decision to accept payment in cryptocurrencies like bitcoin is a big one. Issues such as price volatility and custody have kept crypto payments in a fairly small niche. But cryptocurrency payments are becoming more popular as bitcoin and other digital assets become more common, crypto-focused payment processors make […]

Tax deductions

How Black Business Owners Can Save a Bundle With Tax Deductions

Multiple reports show that millions of Americans, including black entrepreneurs, started businesses last year. The reasons ranged from people losing their jobs due to COVID-19 to people leaving the corporate world to become their own bosses. New and existing business owners alike would do well to start preparing their 2021 taxes now, if they haven’t […]

Tax laws

FG points to flawed tax laws for reforms | The Guardian Nigeria News

The Nigerian government has stated that some of the provisions of personal tax laws in the country need reform. The Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, who revealed this on Tuesday in Abuja at a national stakeholder workshop on tax law reforms, said reform is key to the continuing […]

Tax deductions

G-Wagons, Wine Dinners, Watch Dogs

Costing over $160,000, the G-Wagons aren’t what most people would consider a bargain, but for the wealthy, these luxury SUVs offer tax loopholes. The so-called “Hummer Deduction,” Section 179, allows a car that weighs at least 6,000 pounds to count as a tax benefit under certain circumstances. Take it through your company, use it for […]

Tax laws

February 2022 review: the tax laws you need to know

While you focus on your business, we stay on top of legislative and policy changes that may affect your tax compliance. Should online sellers be required to accept cash payments? Can you use zip codes to determine tax rates? This month’s roundup covers these topics and more. Read on for more details. Cash, please. Shopping […]

Tax laws

New Tax Laws, IRS Loopholes Highlighted in Randolph by Roxbury Accountant | Reporter Randolph News

RANDOLPH TWP. – Accountant Ron DeFilippis doesn’t care much about the IRS. However, it is an organization he has worked with and has known inside and out for over 40 years. The Roxbury resident and Mount Arlington-based accountant, spoke to the Randolph Area Chamber of Commerce at the Randolph Diner on Thursday, February 17. Incoming […]

Tax laws

Did you know that there are tax laws applicable to freelancers?

Did you know that there are tax laws applicable to freelancers? By Lynnet Okumu / Posted on February 28, 2022 | 1:55 p.m. KEY POINTS A freelancer is someone who works on a contract basis for multiple companies, rather than working as an employee for a single company. KEY POINTS TO REMEMBER If you have […]

Tax laws

Time to simplify direct tax laws – The New Indian Express

Income tax laws are complex in the country because over the years the government – in order to induce certain categories of people, companies and economic activities – has granted several exemptions and proposed tax rates. special taxation. Despite the government’s many attempts to simplify direct taxes, little has been done in this direction. It […]

Tax deductions

What you can (and can’t) write off

Do you have a home equity loan or home equity line of credit (HELOC)? Homeowners often tap into their home’s equity for quick cash, using their property as collateral. But before that, you need to understand how this debt will be handled come tax season. With the Tax Cuts and Jobs Act of 2018, the […]

Tax code

The federal tax code is not discriminatory

Natalie Moore’s column stating that the federal tax system is racially discriminatory (“In tax season, green isn’t the only color that matters”) is long on generalization but short on fact. For example, it is claimed that a married couple each earning $50,000 a year does not get the same tax relief as a single-earner couple, […]

Tax code

Youngkin signs bill to comply with tax code

Pandemic-related loans will not be treated as state taxable income Posted February 24, 2022 by Robyn Sidersky young This year’s tax season could be a little less complicated for businesses that got Paycheck Protection Program loans and Rebuild Virginia grants during the pandemic. A bill Governor Glenn Youngkin signed into law on Wednesday will ensure […]

Tax code

Leverage the tax code to minimize your tax liabilities

As we head into March, one of the most dreaded times of the year is approaching: tax season. Right now you’re inundated with tax documents, including a W-2 from your employer, 1099s from your side gigs, 1099-MISC statements from your online brokers, 1099-Rs for retirement income and more. Again. There’s not much you can do […]

Tax deductions

Making money on Venmo? These 3 tax deductions can reduce your tax bill

If you’re self-employed or have a side hustle and accept payments through a third-party payment processor such as Venmo, PayPal, Zelle, or Cash App, you may have heard of a new tax reporting requirement. A provision of the U.S. bailout that went into effect earlier this year requires third-party payment processors like Venmo to report […]

Tax deductions

What is the difference between standard and itemized tax deductions

There are a lot of decisions to be made during tax season. You need to decide your filing status, the tax credits you want to claim, and whether you want to itemize your deductions or use the standard deduction. 1 The goal is to choose the method that will make you the most money.Credit: Getty […]

Tax code

Can indexing the tax code to inflation lead to smarter investment and growth?

As the U.S. economy emerges from the pandemic, it is important for U.S. lawmakers and policymakers to ensure that fiscal policy encourages growth while recognizing that inflation is at a 40-year high. One of the main levers civil servants can use is indexing to inflation, the Tax Foundation explained in a new paper ((https://taxfoundation.org/economic-growth-opportunity-tax-reforms/) yesterday. […]

Tax laws

Azerbaijan amends tax laws relating to CFCs, tax havens and transfer pricing – Tax

To print this article, all you need to do is be registered or log in to Mondaq.com. This update appeared at: https://mnetax.com/azerbaijan-amends-tax-laws-relating-to-cfcs-tax-havens-transfer-pricing-46405 The Azerbaijani government has made significant changes to the Tax Code, which will come into force on January 1, 2022. These changes include measures focused on combating tax evasion and broadening the tax […]

Tax regulations

Tax and accounting job opportunities may increase with new tax regulations in UAE

The United Arab Emirates has announced its intention to impose a new corporate tax from June 1, 2023. Although another country’s tax changes should not be of interest to us, the changes taking place in the Gulf countries are closely watched by the people here. With the introduction of the new tax regulations, more than […]

Tax regulations

The BIR reminds election candidates of tax regulations under penalty of sanctions

The Bureau of Internal Revenue (BIR) has warned anyone running for office or otherwise participating in the May 9 state and local elections to register and comply with tax regulations, or face fines under the Tax Code. taxes. All candidates, political parties/groups of party lists and campaign contributions must register with the tax office, issue […]

Tax laws

Texas Business Tax Laws – Why They’re Attractive:

For a decade, Texas has led the charge in the United States in terms of job creation, economic development and business formation. About 3 million small businesses have been established in the Lone Star State, making it a hotspot for entrepreneurial talent and new business establishments. With so many entrepreneurs moving to Texas from states […]

Tax laws

Court judgment on VAT confirms the need for tax laws – PwC

NAIROBI, Kenya, February 21 – PricewaterhouseCoopers (PwC) says the recent High Court decision which rendered the Value Added Tax Regulations 2017 void and affirmed that tax laws must be validly enacted and enforced. In a tax alert dated February 2022, PwC states: “Tax law must be validly enacted and enforced. Non-compliance with what creates an […]

Tax deductions

The Pros and Cons of Standard Tax Deductions vs. Itemized Tax Deductions

Although you don’t have much choice when it comes to paying taxes, there are deductions available to reduce the amount… Although you don’t have much choice when it comes to paying taxes, there are deductions available to reduce the amount you owe Uncle Sam. Deductions protect some of your income from income tax. income, and […]

Tax laws

Deciphering the changes made to the laws on direct taxation

Following the deadlock over the Farm Bills that led to their withdrawal, Finance Minister Nirmala Sitharaman was expected to make a host of new proposals in the Union budget to win them back. In fact, the budget makes it clear that the government is keen on fixing the structural problems in agriculture (which the farm […]

Tax deductions

Five Most Overlooked Tax Deductions

Although few people can raise their hands, Americans regularly pay too much because they don’t get the tax deductions to which they are entitled. Let’s take a look at the five most overlooked opportunities to manage your tax bill. Dividends reinvested When your mutual fund pays you a dividend or capital gains distribution, that income […]

Tax laws

Tax laws must be validly enacted and enforced

Tax laws must be validly enacted and enforced By Soko Directory Team / Posted on February 19, 2022 | 10:28 KEY POINTS The appeal related to a case in which the KRA was ordered by the Tax Appeal Tribunal to pay WEC Kenya Kshs 6.4 million in VAT refunds. KEY POINTS TO REMEMBER KRA further […]

Tax regulations

High Court strikes down Value Added Tax Regulations, 2017 | Denton

The High Court delivered its judgment in Income Tax Appeal No. E84 of 2020: Commissioner of Inland Tax v WEC Lines (K) Limited where Dentons Hamilton Harrison & Mathews represented the taxpayer. The Court struck down the Value Added Tax Regulations, 2017 (VAT Regulations, 2017), upholding the taxpayer’s position that the agency services provided by […]

Tax code

Tax Refund for Working Floridians Fixes Upside-Down Tax Code

OPINION AND COMMENT Editorials and other opinion content offer viewpoints on issues important to our community and are independent of the work of our newsroom reporters. Super yachts docked at Island Gardens Marina during the 2022 Miami Boat Show on Thursday. Pedro Portal [email protected] I often hear Florida referred to as a “low tax” state. […]

Tax laws

Reviews | These tax laws “make us all look down on”

Congratulations, road warrior. Last year, you did business in five states in one week – emails from airports, phone calls from taxis, video conferences from hotel rooms, business lunches here and there. Later, when you took a vacation in another state, you opened your laptop from time to time to connect with your colleagues. Now […]

Tax code

Tax code proposes write-offs for certain private jet purchases

A tweet from a New York congressional candidate pitting federal tax deductions available to teachers against deductions available to people who can purchase private jets quickly spread, garnering 23,500 retweets and 91,700 likes. “Teachers can only deduct up to $250 for school supplies on their taxes, but billionaires can deduct the entire cost of a […]

Tax code

Imagine a better tax code, use evidence to make it happen – ITEP

It has become popular to urge people to imagine a better world. It’s not surprising. After forty years of rising inequality, stagnant median wages, untaxed wealth, lack of progress on racial equity and neglect of the climate crisis, it may seem that a vivid imagination is the only way to access the country and the […]

Tax code

Expert: Kentucky should ‘clean up’ its tax code instead of cutting income tax for the wealthy

Amid talk of state income tax cuts, experts say Kentucky’s tax code reforms should instead focus on eliminating tax breaks for the wealthy and businesses. the Kentucky Chamber of Commerce and other proponents of income tax abolition say it’s a necessary step to keep businesses. Jason Bailey, executive director of the Kentucky Center for Economic […]

Tax code

The solution to IRS incompetence is to simplify the tax code

(Jonathan Ernst/Reuters) Daniel J. Pilla challenges the oft-repeated assertion that the IRS operates on “1960s technology” and needs billions of dollars in additional funding to modernize its systems. But, as he points out, he already does a lot of high-tech stuff and wants to do more: Knowing this, remember my questions about IRS technology capabilities […]

Tax regulations

Explaining the pros and cons of moving – The New Indian Express

Express press service BENGALURU: When Finance Minister Nirmala Sitharaman announced in the Union budget a 30% tax on any income from a virtual digital asset as well as a 1% TDS (withholding tax) on all crypto transactions, the crypto industry breathed a sigh of relief as the announcement necessarily settled the legality issue that was […]

Tax code

On the adoption of the Tax Code of the Kyrgyz Republic – Taxation

Kyrgyzstan: On the adoption of the Tax Code of the Kyrgyz Republic February 14, 2022 GRATA International To print this article, all you need to do is be registered or log in to Mondaq.com. On January 18, 2022, the President of the Kyrgyz Republic signed the Tax Code, adopted by the Jogorku […]

Tax code

Single Women Lose in Today’s Economy: Wages, Tax Code

Sometimes it seems like everyone is pushing women to get married, even the US government. Loading Something is loading. As more millennials postpone or forgo marriage, the economy hasn’t caught up. Single people pay more for housing, social life and taxes — and they get paid less. Kate Mannelly, a 29-year-old teacher living in Boston, […]

Tax laws

Tax laws made complicated by exemptions need to be simplified: Tarun Bajaj

There is a need to simplify the direct tax laws as various exclusions or exemptions announced each year have complicated them, said Revenue Secretary Tarun Bajaj. “The direct tax code has also become more complicated, a lot of exemptions, a lot of provisions have come in so I think there needs to […]

Tax code

Anglo-Irish Chamber calls for new body to simplify tax code

The Anglo-Irish Chamber of Commerce has called for the creation of a tax reform office to recommend and advise the government on how to simplify what it describes as “the onerous nature of the Irish tax system for business”. . The business advocacy group has called for a new agency modeled on the UK’s Office […]

Tax deductions

Best tax deductions in 2021

The 2022 tax season ends on April 18, which means you get an extra weekend to file your 2021 taxes. But even as tax season begins, do you think you have everything you need? to file your tax return before tax day? Like, do you have all the paperwork? Which form do you still need? […]

Tax regulations

US Tax Regulations for Vaping Products Intended for Pulmonary Delivery of Cannabinoids – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Tax Regulation in the US for Vaping Products Intended for Pulmonary Delivery of Cannabinoids” has been added to from ResearchAndMarkets.com offer. The Tax Regulation report provides a detailed analysis and comparison of the existing tax systems in each state in the United States in relation to cannabis vaping products. The report includes […]

Tax deductions

Best tax deductions in 2021

The 2022 tax season ends on April 18, which means you get an extra weekend to file your 2021 taxes. But even as tax season begins, do you think you have everything you need? to file your tax return before tax day? Like, do you have all the paperwork? Which form do you still need? […]

Tax regulations

US Tax Regulations for Vaping Products Intended for Pulmonary Delivery of Cannabinoids

DUBLIN, February 10, 2022–(BUSINESS WIRE)–The report “Tax Regulation in the US for Vaping Products Intended for Pulmonary Delivery of Cannabinoids” has been added to from ResearchAndMarkets.com offer. The Tax Regulation report provides a detailed analysis and comparison of the existing tax systems in each state in the United States in relation to cannabis vaping products. […]

Tax code

KY experts should clean up the tax code, not cut income tax / Public News Service

Amid talk of state income tax cuts, experts say Kentucky’s tax code reforms should instead focus on eliminating tax breaks for the wealthy and businesses. the Kentucky Chamber of Commerce and other proponents of income tax abolition say it’s a necessary step to keep businesses. Jason Bailey, executive director of the Kentucky Center for Economic […]

Tax laws

How Tax Laws Contribute to America’s Racial Wealth Gap (Video)

Homepage ” Politics ” How Tax Laws Contribute to America’s Racial Wealth Gap (Video) Posted By: XYZ Social News February 7, 2022 Many financial experts say the US tax code contributes to the persistent racial wealth gap in the country. Emory University law professor Dorothy A. Brown joins CBS News’ Tanya Rivero and Tony Dokoupil […]

Tax laws

Lawmakers Introduce Bill to Improve Crypto Tax Laws – Here’s How It Would Make Consumers’ Lives Easier

Weedezign/Getty Images/iStockphoto Legislation reintroduced in Congress last week by a bipartisan group of lawmakers aims to change the way cryptocurrency purchases are taxed and help clear up some of the confusion over how to account for certain crypto transactions on your tax returns. income. See: Taxes 2022 — Questions About Your Crypto Purchase to Ask […]

Tax laws

A music teacher reacts to the tax laws of third-party organizations

AKRON, Ohio — After starting his own business during the pandemic, a music-loving man is now gearing up for a big change in the way small business owners accept payments. Music is an art, according to Jeff Klemm, is part of who he is. He started his first band at age 14. When he was […]

Tax deductions

Complete Guide: Home Equity Loans and Tax Deductions

A home equity loan can be a great way to use the equity in your home for a variety of different purchases. In addition to using the money for home improvement projects, many people use home equity loans to finance debt consolidation or other major purchases like investments or higher education. Although interest paid on […]

Tax deductions

Are there any tax deductions for tenants?

Image source: Getty Images Here’s what you need to know if you’re renting a home. Key points Owners benefit from numerous tax deductions. Although this generally does not apply to renters, you may be entitled to a benefit. If you are self-employed and have a home office, you may be able to claim a deduction. […]

Tax laws

New set of tax laws for 2022 – Taxation

To print this article, all you need to do is be registered or log in to Mondaq.com. In an attempt to revive the economy after the COVID crisis, the government has made changes to laws aimed at accelerating economic development. The following proposed changes to tax legislation are expected to come into force in January […]

Tax deductions

Best tax deductions in 2021

For the second year in a row, the IRS has extended its deadline for filing taxes. You will have until May 17, 2021 to complete your 2020 tax returns. So, have you started? Are all those anxious thoughts swirling around already? Like, do you have all the paperwork? Which form do you still need? Deductions […]

Tax deductions

“The government’s objective is to move away from tax deductions”

NEW DELHI : About 16% of corporate taxpayers accounting for 61% of business income have adopted the new reduced tax regime without incentives, making it a resounding success, said Chairman of the Central Board of Direct Taxes (CBDT), JB Mohapatra , in a post-budget interview. The government’s aim is to move from tax deductions to […]

Tax laws

El-Sisi ratifies amendments to VAT and stamp duty laws

ArabicFinance: Egyptian President Abdel Fattah El-Sisi has ratified amendments to the Value Added Tax (VAT) and stamp duty laws, Enterprise reported, citing the Egyptian Official Gazette. Under the amendments, advertisements on television, radio, as well as billboards and online advertisements will be subject to 14% VAT, replacing the 20% stamp duty, to which they were […]

Tax laws

New Jersey Governor Murphy Signs New Sports Betting Tax Laws

New Jersey Sports Betting Tax Update On Jan. 18, New Jersey Governor Phil Murphy signed a bill that provides tax breaks on credits used to entice players to brick-and-mortar casinos and online operators tied to them in the state. Promotional game credits available for taxation include credits, chips or other incentives that entice players to […]

Tax code

3 ways savvy crypto investors are using the tax code to their advantage

It’s officially tax season, and if you were among the many cryptocurrency traders last year, it’s time to report your business on your 2021 tax return. This applies to those who sold or spent their cryptocurrency, those who traded one cryptocurrency for another, and those who engaged in other taxable events, such as earning interest […]

Tax laws

January 2022 review: the tax laws you need to know

While you focus on your business, we stay on top of legislative and policy changes that may affect your tax compliance. As real-world online sellers face a wave of train robberies and online marketplaces struggle to prevent the sale of stolen goods, a growing number of businesses are moving into the metaverse. This month’s roundup […]

Tax deductions

Tax deductions 2022: Deductions for working from home

(NEXSTAR) — Now that you’re working from home, you might be wondering what home office deductions you can legally claim on your 2022 tax returns. Well, we have bad news: most employees working remotely during the pandemic are entitled to next to nothing. The Mega Millions jackpot has been hit; Ohio winner takes home another […]

Tax deductions

Hope for bigger tax deductions, Covid sops

The countdown to the 2022 Union budget has begun. Finance Minister Nirmala Sitharaman will present the annual budget on February 1. Earners are eagerly awaiting budget announcements to find out if there will be any policy changes that can help them save more. The budget for the 2022-23 financial year would be presented in the […]

Tax regulations

IRS Issues Favorable Tax Rule on Management Company Exception to FET | Holland & Knight LLP

Over the past several years, the Internal Revenue Service (IRS) has worked to issue final regulations that provide guidance to aircraft management companies and aircraft owners regarding their excise tax obligations. Federal (FET). The final rule – under Internal Revenue Code § 4261(e)(5) – implements a provision of the Tax Cuts and Jobs Act of […]

Tax code

Legislation to simplify the tax code passes Pa. House

© Shutterstock Several bills to simplify the tax code for Pennsylvania residents and small businesses were approved by the Pennsylvania House of Representatives this week. House Bills 199, HB 285 and HB 333 each passed the House of Representatives on Tuesday and are now heading to the Senate for consideration. “Small businesses have a reputation […]

Tax laws

Karla Dennis, Registered Tax Agent, Sheds Light on New 2022 Tax Laws

Residents react to rising crime in WeHo 2 hours ago Biden’s spending package includes funds for… 3 hours ago Doordash cares about high gas prices (sort of) 3 hours ago Ukrainian refugee crisis 7 hours ago Airlines are taking advantage of travel demand, increasing… 7 hours ago CHP officers under surveillance after video shows… 16 […]

Tax regulations

IRS Issues Favorable Tax Rules on Management Company Exception to FET – Transportation

United States: IRS Issues Favorable Tax Regulations on Management Company Exception to FET January 27, 2022 Holland & Knight To print this article, all you need to do is be registered or log in to Mondaq.com. Over the past several years, the Internal Revenue Service (IRS) has worked to issue final regulations that provide guidance […]

Tax laws

Seeking harmonization of income tax laws with the insolvency code

The Insolvency and Bankruptcy Code (IBC) has been in force for over 5 years now and has, overall, been successful legislation. However, as expected, given that the IBC is a relatively new law, there have been teething problems resulting from a lack of synchronization with other laws such as tax laws. For example, to reduce […]

Tax deductions

12 tax deductions for the self-employed

Whether you’ve been self-employed for years or you’re one of the many new entrepreneurs to strike out on your own in the age of COVID-19, lowering your self-employment taxes is always a smart business strategy. Here are 12 tax deductions self-employed people could consider this tax season: Health care: It’s no surprise that health care […]

Tax code

Before the 2022 budget, Bibek Debroy calls for a simplified tax code that will remove exemptions

Direct taxes must be reformed to simplify them and remove their exemptions, Bibek Debroy, chairman of the Economic Advisory Council (EAC) to the Prime Minister, told a media event. He pointed out that when the Goods and Services Tax (GST) regime was introduced, the revenue-neutral rate was to be 18%. Almost five years later, the […]

Tax code

Changes to the tax code – Taxation

On January 1, 2022, changes to the Tax Code entered into force. The tax legislation will be amended in several stages: Since January 1, 2022 Since July 1, 2022 Since January 1, 2023 These changes are among the most significant in recent years. We present to your attention some of them: 1) Amendments relating to […]

Tax deductions

2021 Mortgage Tax Deduction Guide

Your guide to mortgage tax deductions for 2021 It’s time to start filing your 2021 taxes. And many homeowners will be wondering about mortgage tax deductions. Generally, you can only deduct certain mortgage costs – and only if you itemize your deductions. If you take the standard deduction, you can ignore the rest of this […]

Tax laws

New Tax Laws 2022: Getting Paid on Venmo or Cash App? This new tax rule may apply to you

If you use payment apps like Venmo, PayPal, or CashApp, the New Year has introduced a change to an IRS tax reporting rule that may apply to some of your transactions. The new rule, which went into effect Jan. 1, imposes no additional tax on payment app users. But it makes it harder for someone […]

Tax laws

New Tax Laws 2022: Getting Paid on Venmo or Cash App? This new tax rule may apply to you

If you use payment apps like Venmo, PayPal, or CashApp, the New Year has introduced a change to an IRS tax reporting rule that may apply to some of your transactions. The new rule, which went into effect Jan. 1, imposes no additional tax on payment app users. But it makes it harder for someone […]

Tax deductions

Higher tax deductions for parents in Switzerland from 2023

This week, the Swiss government has set a date for the introduction of more generous tax deductions for childcare. © Zsv3207 | Dreamstime.com From 1 January 2023, parents will be able to deduct up to CHF 25,000 per child in childcare costs from their annual taxable income, reports RTS. Currently, the maximum is CHF 10,100 […]

Tax laws

Ramaphosa has approved new tax laws for South Africa – 5 key changes you need to know

President Cyril Ramaphosa has approved several tax changes for South Africa by signing into law the Currency Rates and Amounts Act and Revenues Amendment Act, the Taxation Act Amendment Act (TLAA) and the Taxation Amendment Act (TLAA). Tax Administration Act (TALAA). In an analysis of the changes, Jean du Toit, head of tax techniques at […]

Tax deductions

Tax deductions for the purchase of a new vehicle

Buying a new car for business purposes can offer significant tax advantages. In some cases, consulting a tax professional may reveal opportunities to immediately deduct up to 100% of the purchase price of qualifying vehicles. However, there can be some important quirks to be aware of with car tax deductions. First, it’s important to note […]

Tax credits

Payday loans in Texas Help Your Finances Return to Normal

Are you now confronted with a situation that is capable of ruining your bank account? You might not think so in the midst of something that takes about $1,000 to address. But, think about how the smallest amount of money can cause an effect on your financial situation that can make you financially unsecure. This is why you […]

Tax credits

Biden’s Vaccine Mandates Hit the High Court

Vaccine mandates get their day in court Today, the Supreme Court will hear oral arguments over efforts to overturn two major Biden Administration policies designed to raise coronavirus vaccination rates: its vaccine-or-testing mandate aimed at large employers and a vaccination requirement for some health care workers. The hearing comes as the country is facing a […]

Tax credits

How the states have become “Laboratories of Autocracy” — and why it’s worse than you think

There’s a booming literature on the erosion of democracy in America, as well as around the world, but David Pepper’s book “Laboratories of Autocracy: A Wake-Up Call From Behind the Lines” stands out as arguably the most important for three reasons: It brings the subject down to earth, connects democratic erosion to corruption and the […]

Tax credits

Delta-8 THC in Texas: Where to Buy It Legally? 2021 Update

Delta 8 THC is one of the many cannabinoids found in the cannabis plant, has psychoactive properties, and can be obtained from federally compliant hemp plants. The law concerning this drug is a bit confusing, but don’t worry — here’s everything you need to know. The truth is that nowadays, delta 8 is legal and […]

Tax credits

Best Bad Credit Loans Guaranteed Approval In 2021: Get Personal Loans & Emergency Loans For Bad Credit From Top Rated Same Day Loan Companies | Top Direct Payday Lenders To Get No Credit Check Loans For Poor Credit Score

Bad credit is like a disease that sneaks its way into your finances and by the time you realize you caught the infection, it’s already too late. Luckily, it’s a curable disease, but let’s not sugar coat things. You’ll need to be ready to take decisive action to kick this. With our list of the […]

Tax credits

Best Emergency Loans For Bad Credit in 2022

No matter how much you plan for financial expenditures and run a budget-friendly analysis of all provisions, unforeseen circumstances can always hit you up, leaving you puzzled as to how to come out of the quagmire as soon as possible. Here is when emergency loans come into play. An emergency loan is an immediate transfer […]

Tax credits

Planning to Use a Cash-Advance App? Beware of the High Cost

Download the Dave app on your smartphone, as millions of people already have, and you’ll be greeted by an anthropomorphic bear wearing thick-rimmed glasses and holding a pawful of cash. The friendly, upright ursid wants to help you get your finances on track. To do so, the digital financial services app will let you take […]

Tax credits

Ill. reaches agreement with payday loan companies

CHICAGO, Ill. (KFVS) – Illinois Attorney General Kwame Raoul announced that the state has reached a settlement with three online payday loan companies. Settlement with MoneyMutual LLC, PartnerWeekly LLC and Selling Source LLC resolves allegations by the Illinois Office of the Attorney General and the Illinois Department of Financial and Professional Regulation (IDFPR) that the […]

Tax credits

FIRSTCASH HOLDINGS, INC. (NASDAQ: FCFS) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action has been filed against FirstCash Holdings, Inc. (NASDAQ: FCFS) | State

NEW YORK, January 20, 2022 /PRNewswire/ — Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who have purchased or acquired common stock of FirstCash Holdings, Inc. (the “Company” or “FirstCash”) (NASDAQ : FCFS) between February 1, 2018 and November 12, 2021, both dates inclusive (the “Class […]

Tax credits

SD rule would prohibit taking abortion pill at home – Dakota Free Press

Last week, the Food and Drug Administration made permanent a change of pandemic era that allows women to receive the abortion drug mifepristone by mail. This relaxation of government regulation of health care should be good news for rural women: Doctors like Nisha Verma said this courier option has been particularly helpful for women in […]

Tax credits

Differences between the payday loan industry in Australia and the United States

What are cookies As is common practice with almost all professional websites, https://cyprus-mail.com (our “Site”) uses cookies, which are tiny files downloaded to your device, to improve your experience. This document describes what information they collect, how we use it and why we sometimes need to store these cookies. We will also share how you […]

Tax credits

Texas is going in the wrong direction with high-interest loans

If you need a few dollars to get through a financial emergency, the solution may be much more expensive than you think. Two bills running through the House and Senate in Austin would raise the statutory cap on the dollar amount that finance companies could lend to people who need a relatively small amount of […]

Tax credits

Bills in Texas Legislature would undo city efforts to rein in payday lenders, lawyers warn

A loan store is pictured on South Cooper Street in Arlington in 2015. Antitrust advocates warn that a pair of proposals in the Legislative Assembly could perpetuate a cycle of debt for millions of Texans. Khampha Bouaphanh Star-Telegram Archives In dozens of Texas cities, including several in North Texas, payday lenders face tightened restrictions on […]

Tax credits

Tribe-linked lenders strike with second RICO loan lawsuit

By Victoria McKenzie (January 13, 2022, 5:40 PM EST) – Online lender Aaniiih Nakoda Finance LLC has been hit with a second proposed racketeering class action lawsuit in Illinois under the Racketeering Influenced and Corrupt Organizations Act which accused the company of using a federally recognized tribe as a front to avoid prosecution for its […]

Tax credits

Chopra to tackle stacked CFPB agenda after winning confirmation

The Senate confirmed Rohit Chopra as director of the Consumer Financial Protection Bureau, installing an agency veteran and former FTC official with a reputation as an aggressive regulator. The Senate vote on Thursday was 50-48, with all Republicans opposed to his nomination. “Rohit will hit the ground running. He knows the agency, knows how to […]

Tax credits

What is a balloon mortgage payment?

When considering home loan options, you may encounter what is called a lump sum payment. A lump sum payment is often linked to a lump sum loan, which may have lower down payments than a traditional loan, but may also increase your risk as a borrower. Before accepting a lump sum loan, make sure you […]

Tax credits

FIRSTCASH HOLDINGS, INC. (NASDAQ: FCFS) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action has been filed against FirstCash Holdings, Inc. (NASDAQ: FCFS) | State

NEW YORK, January 20, 2022 /PRNewswire/ — Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who have purchased or acquired common stock of FirstCash Holdings, Inc. (the “Company” or “FirstCash”) (NASDAQ : FCFS) between February 1, 2018 and November 12, 2021, both dates inclusive (the “Class […]

Tax code

Tax code: Martin Lewis warns millions of workers could be in the wrong tax code, how to check and claim money

Martin Lewis said millions could be in the wrong tax code and could be liable for thousands of pounds Martin Lewis has warned millions of workers in the UK they could be on the wrong tax code and could have to pay back thousands of pounds. A reader contacted Lewis and explained how she managed […]

Tax deductions

tax deductions, there is something new

It is possible to deduct certain expenses provided for by law to ensure that at the end of the year the Italian taxpayer can pay less than expected if he has made this type of expense. But there’s something new Pixabay As we have just said, certain expenses are deductible from IRPEF that Italian citizens […]

Tax deductions

Good news for home buyers! Higher tax deductions are likely on home loans in the 2022 budget

New Delhi: FM Nirmala Sitharaman is likely to offer higher tax deductions on home loans in the 2022 budget. According to the latest Mint report, steps are being taken to boost housing demand in the country. The government may increase the annual tax deduction limit for principal repayment of a home loan under Section 80C […]

Tax deductions

End of tax year: Maximize your available tax deductions

As we head towards the end of the 2021/2022 tax year, now is the time to make sure you’ve taken advantage of the tax breaks available to you so you don’t leave “free money” on the table. However, before implementing one or more of the commonly used strategies described below, keep in mind that tax […]

Tax regulations

EU tax rules have been updated to balance investment and debt reduction

According to French Finance Minister Bruno le Maire, the fundamental objective of the overhaul of the European Union’s budgetary rules, which is currently underway, is to reconcile the substantial investment demands of the bloc of 27 countries with a realistic rate. debt reduction. After chairing a meeting of EU finance ministers, the Mayor said the […]

Tax deductions

Know the difference between standard and itemized tax deductions

Taxpayers have two options when filing a tax return, take the standard deduction or itemize their deductions. Most taxpayers use the option that gives them the lowest overall tax. Due to all the changes in tax law over the past few years, including increases in the standard deduction, people who have itemized in the past […]

Tax deductions

Self-Employment Tax Deductions: How To Optimize Your Home Office Tax Deduction?

WWhen it comes to filing your taxes, you want to make sure you’re doing everything right, but also that you’re as efficient as possible so you don’t lose out. If you have a home office, for example, you might qualify for tax relief, so read on to find out how to get the most out […]

Tax code

Launch of a new consultation on the draft tax code

The Legislative Assembly (AL) has announced a new two-month public consultation on the tax code proposal to allow industry representatives and taxpayers to submit suggestions on the draft, the chairman of the third standing committee said of the AL, Vong Hin Fai, quoted by TDM Radio. Macau. Mr. Vong justified the decision by the impact […]

Tax code

Azerbaijan amends tax code to ensure transparent regulations

January 12, 2022 11:35 am (UTC + 04:00 am) 305 Through Tendency Amendments have been made to Azerbaijan’s Tax Code to strengthen tax control and ensure transparency in the conduct of settlements, said the State Tax Service (STS) under the Ministry of Economy. Tendency. The changes plan to boost business activities, broaden the tax base, […]

Tax laws

Tax Laws That Might Surprise You

TUCSON, Ariz. (KGUN) — If you love cryptocurrency, you need to be extra careful about paying your taxes on it, because if you don’t pay, it can end up costing you a lot of money. Riana Linsky, Senior Manager at Dark Horse CPA in Tucson, says the topic of cryptocurrency is growing and rumors that […]

Tax laws

The year 2022 brings a new set of tax laws in Serbia – Tax authorities

To print this article, all you need to do is be registered or log in to Mondaq.com. A new set of Tax laws was adopted in the Republic of Serbia, most of which will be applicable from January 2022. The main changes concern: Law Amending the Personal Income Tax Law The amount […]

Tax deductions

Some gambling losses can be claimed on state tax deductions with the new law

Michigan’s new law will allow certain gambling losses to be deducted from taxes Since the pandemic began and Michigan legalized sports betting and launched sports books and online casinos, thousands more people have entered the gambling market. FOX 2 (WJBK) – Michigan will allow players to claim a state income tax deduction for gambling losses […]