The sales tax environment continues to evolve, mostly to the detriment on small business online sellers. Sales taxes are growing increasingly complex and impose great burdens on just about any business that must comply. The situation is indeed untenable, and a simpler solution is needed. But in the meantime, here is a discussion on the [...]
The Supreme Court decision in June 2018 on South Dakota v. Wayfair is changing the business landscape all over the U.S., and while there are many winners and losers, small businesses definitely don’t fall into the winner’s column as they are now responsible for complying with a multitude of new sales and use tax concerns, [...]
Honest Taxpayers? A recently completed survey on taxes, honesty and cheating directed at individuals and small businesses finds that despite the complexities and ever-increasing types of taxes and rates, Americans are surprisingly honest and well-intentioned on their taxes, and typically step into only a few gray areas. Taxpayers more often cheat on boy-friends and [...]
Sales taxes are a pain for most businesses. Business owners must act as the unpaid agents of the government in deciding what and who gets taxed, collecting the tolls, and remitting to one of many state governments, while hoping that all is correct to avoid penalties and intrusive audits. I won’t tell you that [...]
The April tax-filing deadlines are well behind us now, but the IRS is warning that tax scammers are not on summer vacation.
There are all kinds or rumors out there about IRS and state income tax audits – who gets audited, and why? No one wants this kind of attention: there may be much additional taxes to pay, and lots of intrusive, time-consuming questions. And according to the IRS, an audit may involve “the questioning of witnesses [...]