Tax deductions

2022 Tax Deductions for Traditional Roth IRAs | national news

Whether you have access to a workplace retirement account or not, anyone with earned income can contribute to their own IRA. However, depending on your income, employment status, and the type of IRA you choose, your contributions may or may not be tax deductible. There are several types of IRAs available and it is important […]

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 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 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 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 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 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

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 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

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 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 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 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 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

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 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 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

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 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 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 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

BIR shuts down Makati service provider POGO for tax code violation

MANILA – A Philippine offshore gambling operator (POGO) and its accredited service provider were suspended by the Bureau of Internal Revenue on Wednesday for failure to register with the agency. Imperial Choice Limited and Aplus Accel Inc have been closed for failure to register the first as required by the Tax Code and RA # […]

Tax laws

VAT reduced to 7% under changes to Laos tax laws – Taxation

Lao People’s Democratic Republic: VAT reduced to 7% under changes to Laos tax laws January 03, 2022 Tilleke & Gibbins To print this article, simply register or connect to Mondaq.com. During the last week of December 2021, the Ministry of Justice published the law amending certain provisions of tax laws No. 01 / NA, dated […]

Tax regulations

For violating income tax regulations, Xiaomi and Oppo could be fined Rs 1000 crore.

It was discovered during the strikes that the two big organizations, Xiaomi and Oppo, could face a penalty of Rs 1000 crore. They sent money as eminence, which is over Rs 5,500 crore, referring to themselves and to fundraising organizations found abroad. Source: NDTV Xiaomi and Oppo could run the risk of paying a fine […]

Tax code

The cryptocurrency could be included in the tax code, according to the government for 2021.

Cryptocurrency can be included in the tax code, according to the government. The government takes into account Section 26A of the Income Tax Act and the Annual Information Regulations (AIR), which displays information about all of a taxpayer’s investments and is generally referred to as a “tax book. “. Indians who sell or buy cryptocurrencies […]

Tax regulations

Crypto tax regulations accelerate following increased adoption

The increased adoption of cryptocurrencies and blockchain technology components such as non-fungible tokens (NFT) and decentralized finance (DeFi) has prompted governments around the world to look into cryptocurrency taxation policies. . Audit firm PwC in a report said events such as the adoption of cryptocurrencies as legal tender in El Salvador will force tax authorities […]

Tax deductions

Are you maximizing your tax deductions and minimizing your taxes?

By Len Green, CPA and John Wollenberg, CPA In horse racing, the competition is not over until the horse has crossed the finish line. The same goes for maximizing your tax deductions and minimizing your taxes. For those who think it’s too late to save on your 2021 taxes, we’re here to tell you no! […]

Tax code

Revamped Macao SAR tax code and new financial diversification measures

During the third quarter of 2021, Macao SAR was inundated with information about the much touted “financial diversification” of the Special Administrative Region (SAR) with a number of government initiatives in the works for it. In October, the Executive Council (EC), an advisory body to the Chief Executive, announced that it had completed and ultimately […]

Tax laws

Tax law amendments proposed for IMF $1 billion tranche – Journal

ISLAMABAD: With an annual revenue impact of over Rs 350 billion, the Federal Board of Revenue (FBR) is seeking changes to the three main tax laws relating to customs, sales tax and income tax , in addition to the Service Tax Act for the Federal Capital to meet International Monetary Fund (IMF) “prerequisites” of securing […]

Tax laws

How New Tax Laws Can Impact the Hospitality Market: Are You Ready?

While all industries were affected during the pandemic, none may have suffered devastation like the hospitality market. Now, widespread vaccine deployments have contributed to a sense of optimism (tinged with caution), and yet, even as occupancy rates begin to rise, the resurgence of the hospitality industry faces other threats. A number of proposed tax laws […]

Tax laws

Buhari toughens tax laws

There may be strict rules in how Nigerians operate bank accounts, starting next year. The 2021 Finance Bill, an executive bill forwarded to the National Assembly by President Muhammadu Buhari, if enacted, will make the presentation of the Tax Identification Number (TIN) mandatory before the opening a bank account. The President of the Senate, Ahmad […]

Tax code

Cryptocurrency can be included in the tax code, according to the government for 2021.

Cryptocurrency may be included in the tax code, according to the government. The government takes note of Section 26A of the Income Tax Act and the Annual Information (AIR) Regulations, which displays information about all of a taxpayer’s investments and is generally referred to as a “tax book”. “. Indians who sell or buy cryptocurrencies […]

Tax laws

Changes to agricultural tax laws expected in the Build Back Better bill

With ranchers, farmers and businessmen juggling the fallout from the pandemic, supply shortages and rising costs, there is another ball that can be thrown on the circus scene: the modifications. federal taxes. President Biden and the Democrats have proposed several federal tax changes that would affect the agriculture industry and small businesses. Some of these […]

Tax laws

Albanian government announces new changes to tax laws – Taxation

Albania: Albanian government announces new changes to tax laws November 30, 2021 Eurofast To print this article, simply register or connect to Mondaq.com. The Albanian Minister of Finance presented the 2022 budget package to the Parliamentary Assembly of Economy and Finance. The main laws that will be affected by the changes included in the 2022 […]

Tax laws

Appropriateness of the stamp duty value of the property under income tax laws

In order to arrive at the fair market value of the home ownership, you can either take the stamp duty calculation rates if available, or get a certificate of appraisal from a registered appraiser. In order to fill the gaps in real estate transactions and avoid litigation, the Income Tax Department compares the valuation of […]

Tax laws

Keep an eye out for: Agricultural Tax Law Changes Expected in the Build Back Better Bill

With ranchers, farmers and businessmen juggling the fallout from the pandemic, supply shortages and rising costs, there is another ball that can be thrown on the circus scene: the modifications. federal taxes. Some lawmakers have proposed several federal tax changes that would affect the agriculture industry and small businesses. Some of them were eliminated from […]

Tax code

The proposed changes to the tax code are not a “revolution” but necessary upgrades – Legal expert

The proposed changes to the local tax code will not be a complete overhaul but updates needed to standardize and upgrade outdated tax regulations in the SAR, lawyer and notary Rui Filipe Oliveira said at a seminar on the question organized by the British Chamber of Commerce in Macau. Bills for an overhaul of the […]

Tax laws

Smart Tax Law Drafting – Journal

The government promulgated the Presidential Ordinance – the Tax Laws (Third Amendment) Ordinance 2021 – on September 15, providing for certain enforcement measures aimed at improving documentation of the national economy, improving tax compliance and broaden the tax base. Although it became law and has been in force since then, it has a limited lifespan […]

Tax laws

Cryptocurrency: Government to change tax laws in budget to tax cryptocurrency earnings

New Delhi: The government is considering changes to income tax laws to bring cryptocurrencies into the tax net, with some changes that could be part of next year’s budget, a senior official has said. Revenue Secretary Tarun Bajaj said that in terms of income tax, some people already pay capital gains tax on cryptocurrency income, […]

Tax laws

Cryptocurrency Gains May Be Taxed As Government Plans To Change Tax Laws In Budget

The Union government plans to change income tax laws to bring cryptocurrencies under the tax net, with some changes that could be part of next year’s budget, the revenue secretary said. Tarun Bajaj at the news agency. PTI. Bajaj said that in terms of income tax, some people already pay a capital gains tax on […]

Tax laws

Government to change tax laws in budget to tax cryptocurrency earnings

NEW DELHI: The government is considering changes to tax laws to bring cryptocurrencies under the tax net, with some changes that could be part of next year’s budget, a senior official said. Revenue Secretary Tarun Bajaj said that in terms of income tax, some people already pay capital gains tax on income from cryptocurrency, and […]

Tax laws

Tax Laws Ordinance 2021 (Third Amendment): Senate body rejects most provisions

ISLAMABAD: The Standing Senate Committee on Finance rightly rejected most of the provisions of the Tax Laws Ordinance 2021 (Third Amendment), including the mandatory requirement for the corporate sector to switch to digital payment at from December 1, 2021. While reviewing the Tax Laws (Third Amendment) Order of 2021, here Thursday in the House of […]

Tax laws

Tax Laws Ordinance 2021 (Third Amendment): Senate body rejects most provisions

ISLAMABAD: The Standing Senate Committee on Finance rightly rejected most of the provisions of the Tax Laws Ordinance 2021 (Third Amendment), including the mandatory requirement for the corporate sector to switch to digital payment at from December 1, 2021. When reviewing the Tax Laws (Third Amendment) Order of 2021, here Thursday in the House of […]

Tax laws

How Texas Tax Laws Attract the Rich

Texas is well known as an income tax free haven. This is probably one of the reasons why Tesla CEO and founder Elon Musk, the richest person in the world, decided to move to Tesla headquarters in California, which has income tax on highest in the country, in Austin, Texas. However, that’s not the only […]

Tax laws

Shaukat Tarin launches tax code wording to simplify tax laws – Journal

ISLAMABAD: Financial and tax adviser Shaukat Tarin initiated the formulation of the Internal Tax Code (IRC) with the aim of harmonizing all domestic tax laws and maximizing taxpayer facilitation as part of the government’s initiative on simplification of tax laws. We positively hope that the IRC will be applied from July 1, 2022. The proposed […]

Tax laws

Shaukat Tarin launches initiative on simplifying tax laws

ISLAMABAD – In a decisive development and to put his vision into practice, Shaukat Tarin, advisor to the Prime Minister in charge of finance and revenue, initiated the formulation of the tax code with the aim of harmonizing all domestic tax laws and maximizing facilitation of taxpayers. It promises to ensure the ease of doing […]

Tax regulations

BIR strengthens fintech tax regulations

MANILA – The Bureau of Internal Revenue will tighten tax regulations for the financial technology (fintech) sector as online transactions continue to gain traction during the COVID-19 pandemic, the finance ministry said on Friday. “The BIR will continue to gather information and knowledge from other regulatory agencies on the identification, resolution and reduction of gaps […]

Tax laws

Government to harmonize tax laws by merging them into one law book

ISLAMABAD: The federal government has decided to harmonize the four tax laws by merging them into a single collection of laws, a “single rule book”, in order to promote automation and digitization in order to make it easier for taxpayers. According to the details, the Federal Board of Revenue (FBR) has established a high-level committee […]

Tax laws

The bias built into tax laws that puts labor income at a disadvantage

Copyright 2021 NPR. To learn more, visit https://www.npr.org. MICHEL MARTIN, ANIMATOR: You’ve probably heard of this Senate Democrats’ proposal to tax certain billionaire assets to help pay for President Biden’s spending plan. You’ve probably also heard that this was one of the ideas that was not in the compromise announced on Thursday. It was removed […]

Tax laws

The bias built into tax laws that disadvantages income from labor

NPRSaturday, October 30, 2021 Update RequiredTo play audio, update browser or Flash plugin. Copyright 2021 NPR. To see more, visit https://www.npr.org. NPR’s Michel Martin talks with tax law professor and author of The Whiteness of Wealth Dorothy Brown about her thoughts on the Democrats’ proposed billionaire tax. Transcript MICHEL MARTIN, HOST: You probably heard about […]

Tax laws

The bias built into tax laws that disadvantages labor income: NPR

Michel Martin from NPR speaks with a professor of tax law and author of The whiteness of wealth Dorothy Brown on her thoughts on the Democrats’ proposed billionaire tax. MICHEL MARTIN, ANIMATOR: You’ve probably heard of this Senate Democrats’ proposal to tax certain billionaire assets to help pay for President Biden’s spending plan. You’ve probably […]

Tax laws

Retroactive tax laws – but they can’t do it, can they? | Holland & Hart – Fiduciary Law Blog

We all know that a change is likely in the tax regimes governing personal income, gift and inheritance taxes, but what if the change is already there? There are a number of potential effective dates for President Biden’s tax bill, some in the future and some already in the past. The uncertainty of substantial changes […]

Tax laws

FPCCI denounces ordinance on “unfair” tax laws – Journal

KARACHI: The Federation of Chambers of Commerce and Industry of Pakistan (FPCCI) on Monday called “the Tax Laws Ordinance 2021 (Third Amendment)” unfair and called on the government to suspend it until that all stakeholders have been consulted. In a statement, FPCCI President Mian Nasser Hyatt Maggo said the ordinance – which entered into force […]

Tax laws

Tax Laws Ordinance 2021 (Third Amendment): 7 new measures introduced to broaden the tax base

ISLAMABAD: The government introduced seven new measures to broaden the tax base through the Tax Laws (Third Amendment) Ordinance, 2021. Under the new section 114B of the Income Tax Ordinance 2001, the Council will have the power to issue a general income tax ordinance in respect of persons not listed. on the ATL but are […]

Tax code

Banking solutions available despite difficulties due to the tax code for the cannabis industry

Cannabis banking has been a delicate subject to discuss in recent years. Although many financial institutions refuse to do business with the high-risk industry, the truth is that cannabis banks have been licensed since February 2014. This is when the Financial Crimes Enforcement Network, or FinCEN, released its guidelines on how credit unions and state-chartered […]

Tax laws

Tax laws for non-resident professional athletes – Taxation

INTRODUCTION High performance athletes who participate in various sports earn millions of dollars in salaries. Just like a normal employee, they have the right to pay their contributions to the government. Earning extraordinary salaries also results in extraordinary tax payments. Cristiano Ronaldo – a top athlete has decided to join Juventus FC, one of the […]

Tax laws

Income tax laws conflict with property tax rules

Federal and state tax laws do not treat coronavirus relief payments as taxable income, but the state has instructed assessors to treat payments as income when calculating a company’s property tax. That contradiction unfolded Thursday before the Garland County Equalization Board, the panel of appointed officials who decide property tax appeals. Parth Patel, president of […]

Tax laws

4 ways Biden’s proposed tax laws could impact stock compensation

President Biden’s proposed tax hikes may impact your stock piggy bank getty Tax increases could be looming. If you have stock options, restricted stock units or company shares, now is the time to analyze whether the tax changes proposed by President Biden could affect your financial planning, whether either directly or indirectly. Some of the […]

Tax laws

Judges trained in tax laws to facilitate trials

Judge Samuel K. Marful-Sau (left), Director of the Judicial Training Institute, with Reverend Ammishaddai Owusu-Amoah, Commissioner General of the Ghana Revenue Authority, at the Laws Training Workshop fiscal The Ghana Revenue Authority (GRA), in collaboration with the Judicial Training Institute, has trained 30 judges on tax laws to facilitate the adjudication of tax cases and […]

Tax code

Trump once claimed to be the ‘king of the tax code’ – but now pleads ignorance ahead of the New York affair

Former US President Donald Trump speaks at a rally July 3, 2021 in Sarasota, Florida. Mr. Trump appeared to pretend to ignore tax laws during the rally. (Getty Images) As the 2016 US election approached, then-candidate Donald Trump claimed to be the “king of the tax code.” “I know all forms of tax – believe […]

Tax code

Trump once claimed to be the ‘king of the tax code’ – but now pleads ignorance ahead of the New York affair

As the 2016 US election approached, then-candidate Donald Trump claimed to be the “king of the tax code.” “I know all forms of tax – believe me – from [value-added taxes] to fair tax for – every form of tax, ”he once said in August 2015, according to The Washington Post. Around the same time […]

Tax code

Our tax code allows billionaires like Bezos to opt out – YubaNet

During today’s hearing before the Senate Finance Committee, U.S. Senator Elizabeth Warren (D-Mass.) Asked Treasury Secretary Janet Yellen about the need for significant reforms to the U.S. tax code system . The exchange follows the recent ProPublica report which found that the wealthiest Americans often pay little or no federal income taxes. Senator Warren also […]

Tax code

Dorothy Brown on Racism in the Tax Code

A ProPublica Report released this week documents how some of the wealthiest Americans are taking advantage of loopholes to avoid paying federal income taxes. While the report focused on billionaires like Jeff Bezos and Elon Musk, Dorothy Brown — a South Bronx native and law professor at Emory University in Atlanta, who holds a master’s […]

Tax code

Tax Code 280E as an Obstacle for Cannabis Businesses and the SAFE Banking Act

Newswise – After passing new legislation in April allowing banks to provide services to cannabis companies in states where the drug is legal, the U.S. House of Representatives has signaled it may be high time to remove business barriers for the cannabis industry. The bill, dubbed the SAFE Banking Act, comes after a major lobbying […]

Tax laws

Focus on Strategy: Preparing for New Tax Laws

The winds of political change bring with them the potential for significant tax code revisions. As expected, in late April, President Joe Biden unveiled a number of significant proposed changes to individual tax provisions. As with the proposed revisions to the corporate code made several weeks earlier, these potential increases would fund an ambitious multibillion-dollar […]

Tax laws

Cryptocurrency Tax Laws: What U.S. Taxpayers Should Know As Tax Day Approaches

By Seth Wilks, Director of Government Relations Have you traded or sold Bitcoin, Ether, or other digital currencies in 2020? If so, you will have the information you need to report on your tax return. With the tax deadline fast approaching, TaxBit CPAs and tax lawyers are breaking down cryptocurrency tax laws to make this […]

Tax laws

MTV: Celebrities move to Wyoming over tax laws

*** For all of Wyoming, sign up for our daily newsletter *** By Ellen Fike, Cowboy State Daily Celebrities are drawn to Wyoming for its lack of tax laws, a new report from MTV News has found. A regular segment of MTV’s news called “The Pop Factor” details how popular culture influences more than the […]

Tax laws

Federal budget 2021: Liberals seek to tighten corporate tax laws and close loopholes, but avoid sweeping changes

Ottawa has proposed a 3% tax on digital giants like Google, Amazon and Facebook as other countries consider similar measures. REUTERS PHOTO / Reuters FILE The federal budget aims to toughen corporate tax laws rather than reforming them, enforcing the rules more strictly and closing loopholes instead of changing the tax burden on businesses more […]

Tax laws

Taxmann publishes CA Ravi Chhawchharia’s book on ‘Direct Tax Laws and International Taxation’

Taxmann has been considered the most trusted and authentic tax law publisher for decades in India. Renowned Chartered Accountant of Surat, CA Ravi Chhawchharia’s book on “Direct Tax Laws and International Taxation” is now published throughout India by leading tax law publisher Taxmann. The aim of this book is to provide a holistic approach to […]

Tax laws

LHDN: Audits carried out to ensure compliance with tax laws

PETALING JAYA: The Inland Revenue Board (LHDN) says its process of auditing or investigating individuals, including politicians, is conducted solely to ensure compliance with tax laws. As the country’s main revenue collector, he said he remains committed to fulfilling his responsibilities “without fear or favor.” “LHDN is always fair, equitable and acts with integrity to […]

Tax laws

Impact of the draft law on tax laws (amendment) (n ° 2), 2020 – Taxation

The Tax Laws (Amendment) Bill (No.2), 2020 (the Bill) was published in the Gazette with a view to making changes to various tax laws, as explained in more detail below. Once enacted, the bill will enter into force on January 1, 2021. However, we note that the National Assembly is currently suspended until February 8, […]

Tax laws

Billionaires and philanthropy bigwigs want Congress to fix tax laws so charities can get more money faster

Some of philanthropy’s biggest hitters say they want Congress to reform tax laws so philanthropists can get money faster for those who need it. Several of the largest foundations in the United States – including the Ford Foundation – announced Tuesday Giving that they have formed a coalition dedicated to “accelerating charitable giving” by reforming […]

Tax laws

Tax laws provide protections and deductions for seniors

My friends, I have read a lot about the coronavirus. Apparently it was spreading in a Washington state nursing home with fatal consequences. We are told that most people will overcome the disease, but our elders are the most vulnerable. Apparently, it’s not so deadly with our children. And if they do catch the virus, […]

Tax laws

New Virginia Tax Laws Effective January 1, 2020

CHARLOTTESVILLE, Va. (WVIR) – As Virginians ring in the new year, new tax laws are taking effect across the Commonwealth. Starting January 1, 2020, a number of new laws will change the way Virginians shop and pay taxes. A law is a reduction in the sales tax on certain products considered essential hygiene products. The […]

Tax regulations

Proposed Tax Regulations Eliminate Recapture of Lifetime Gifts for Estate Tax Purposes | Bradley Arant Boult Cummings LLP

As previously reported, the Tax Cuts and Jobs Act, enacted in December 2017 (the “2017 Act”) made significant changes to the federal wealth transfer system with respect to tax transfers. on gifts and estates during the calendar years 2018 to 2025. One of these changes increased the amount of the basic exemption that can be […]

Tax laws

Trump’s tax laws could explain the slowdown in year-end giving

The five-day period between Christmas and New Years is one of the busiest times for charitable giving. But under President Donald Trump’s new tax laws, nonprofits across the country could see a drop in year-end giving. Some organizations in Charlotte may already be feeling the effects. The local branch of the Salvation Army is counting […]

Tax laws

How Divorce Tax Laws Will Change in 2019

By Dean Hedeker, Next avenue Donor No one ever said getting divorced was easy. Besides the normal emotions of a broken relationship and family, there’s paperwork, lawyers, courts, and, of course, money. As if asset splitting wasn’t difficult enough, new tax changes coming into effect in January 2019 could add a significant amount of stress […]

Tax laws

9 Ways New Tax Laws Are Affecting Millennials

The Tax Cuts and Jobs Act (TCJA) of 2017 generated significant buzz as tax experts speculated about how the average American’s tax bill was affected. Some of the most significant changes relate to tax deductions and credits that could have a significant impact on the younger generation of taxpayers. For millennials, the latest round of […]