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updated Mon. May 7, 2018

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As public opinion increasingly favors the legalization of recreational marijuana, a growing number of states must determine how to tax legal sales of cannabis. To date, nine states (Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon, Vermont, and Washington) and the District of Columbia ...
Will online business be forced to collect state sales taxes? That question go before the Supreme Court sometime in June. Traditionally, businesses only need to collect sales taxes in states where they have a physical presence. But South Dakota recently passed a law to change that. Two companies ...

The county story on taxes could change in the 2020 budget year, given that five of 17 board seats are expected to change hands after the November general election. The two most outspoken Democratic opponents of the pop tax lost their primary races. Two other board members didn't run, and a fifth won ...
Last year, Middletown taxpayers forked over $231 million in property taxes. About 63 percent of that went to the township's school district. The township passed it's own 2018 budget last week, seeking a 12 percent increase in local taxes. That's $2,082 in municipal tax for the typical property owner — plus ...
Related:Voters okay increasing Ingham County tax cap. Grebner described the ballot measure as a "hybrid proposal." "Conventional wisdom is that you'll never get a jail millage approved by the voters," Grebner said. "There's a group of people who don't like taxes, no matter what they fund. Then there's ...
If you're in the group of Americans that's getting a tax refund, award-winning financial advisor Suze Orman has some ideas on how you can put it to good use. Naturally, "once the money hits your bank account," it's tempting to spend on wants, not needs, the former CNBC host and best-selling author writes ...

We've already heavily relied upon property taxes and sales taxes, and as a city we highly tax small businesses to generate revenue for our existing budget. A progressive business tax is not only our best option, but it is the right thing to do if we are dedicated to providing housing to people experiencing ...
It's not always easy to determine what ordinary Americans pay in federal taxes. Obviously they pay income taxes directly, but many taxation specialists would say that taxpayers indirectly foot the bill for corporate taxes and for the employer's share of payroll taxes. For simplicity, we decided to include all tax ...
More than 2 million Minnesotans would get a state income tax cut under a proposal that state House Republicans are pushing to hurriedly conform the state's tax system to the new federal tax law, while about 179,000 filers would see their taxes go up. Tax savings could range from $6 for those earning ...
A key committee in Arizona's House of Representatives has given its blessing to a bill that would clear the way for the state to accept cryptocurrencies as payment for taxes. The House Rules Committee voted to approve the measure - which as CoinDesk previously reported has been subject to revision - on ...
Especially if you're awaiting a juicy tax refund, why not treat yourself to something you probably need? Nintendo's Labo kits come out this Friday and are currently available for pre-order. You can learn more about the kits, which we love, and how to order them, here Our friends at TechBargains have also ...
Growth had stalled after this location opened in 2014, but since President Trump signed the tax cuts into law, Artie and his partners are feeling optimistic: “We see the future as being pretty bright. We see ... When filing taxes, most businesses will be able to deduct 20 percent of their business income. And for ...
The IRS online tax-payment website went down early yesterday morning — Tax Day. About five million people were expected to file their returns last-minute on deadline day; the agency was struggling to accept returns from the widely used tax software program TurboTax and the massive tax preparation ...
BILLIONS of dollars and long-standing interstate e-commerce rules are at stake in a case that came before the justices on April 17th. The case revisits an old Supreme Court rule that retailers shipping goods to states where they have no physical presence cannot be forced to collect sales tax from their ...
The IRS, which was unable to process returns for several hours as a result of the outage, extended the filing deadline by one day to April 18 at midnight. (Don't worry, you don't need to do anything to get the additional time.) "It's kind of a windfall to the procrastinators," said Mark Steber, chief tax officer at ...
CLEVELAND, Ohio -- Procrastinators have two more days than usual to file their taxes this year, on April 17, 2018. Federal Tax Day is normally on April 15, which this year falls on a Sunday. Monday, April 16, is Emancipation Day in Washington D.C., home of the federal goernment. The holiday celebrates ...
A new study suggests that people may drink significantly less soda when it costs more. The findings support a public health strategy—the so-called “soda tax,” or a sugary drink tax that raises the price of sugar-sweetened beverages—that has grown more popular in recent years. In the study, researchers ...

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week's question. Q: I live in Southern California and am contemplating a move to Las Vegas. What are the property taxes like there? A: “The most frequently asked question I get from people new to Nevada is, "Will my ...
It's important to consider a state's entire taxation picture, not just one component of it. For example, many people only think of income tax when they hear the phrase "state taxes," but the reality is that there is more to it. Specifically, many states generate lots of revenue from property taxes. As a personal ...
Before you submit your tax return to the IRS, ask yourself: What's the cost basis of your virtual currency holdings? It could make the difference between paying the correct amount of taxes or shelling out a fine. As Tax Day — April 17 — approaches, cryptocurrency holders ought to take a moment and review ...
"Leading up to the changes all the way through the tax season, clients are more tuned into the taxes than they have ever been," said Joseph Perry, a CPA and national tax and business services leader at Marcum LLP. "Going into 2018, our plan is to help them individually understand where they will be this ...
The U.S. Congress, federal funding agencies, universities and other research institutions must take significant steps, such as a postdoc “tax” and a hard cap on how long postdocs can be funded by a lab head, to better usher young biomedical scientists into viable careers, a committee from the National ...
Tax day is next Tuesday, but if you haven't filed yours yet, you still have time to ask Mark Kohler, a CPA and senior tax advisor for TaxSlayer, all of your questions until 1 p.m. today. Do you have a question about freelance income? Or whether you have to pay taxes on Social Security benefits? Or simply on ...
When you file your federal income taxes, you have the choice between taking the standard deduction and itemizing your deductions. Which you choose should depend on which strategy will maximize your tax benefits. Your calculations may also have changed recently because of the new tax plan passed ...
Fifteen U.S. corporations including online retailer Amazon.com, power company Duke Energy and insurer Prudential Financial avoided U.S. tax on nearly $25 billion in combined profits last year, a tax watchdog group said on Tuesday. A report by the Institute on Taxation and Economic Policy, or ITEP, said ...
It's not every day that the Pennsylvania State Police call to say they have a warrant out for your arrest. But that's exactly what happened to me in late March. At least, that's what the caller said was happening. The voice on the other end of the line rattled off information about me — my full name, my email ...
But Amazon paid zero federal income tax last year, said Monica Cortes Viharo, an executive board member of UAW 4121, which represents student employees at the University of Washington. “Is that fair?” she shouted, citing analysis by the Institute on Taxation and Economic Policy. “No!” Watching from ...
Raleigh, N.C. — Many North Carolinians will be paying more taxes to the state because of the federal tax changes signed into law by President Donald Trump before Christmas, officials said Wednesday. That's good news for the state budget, where lawmakers expect to see an additional $120 million in ...
If the court backs government officials who say they're losing billions of dollars in uncollected taxes, thousands of small companies could be forced to start charging their out-of-state customers for them. Some businesses fear that could alienate customers used to tax-free shopping. On the other side: ...
If the court backs government officials who say they're losing billions of dollars in uncollected taxes, thousands of small companies could be forced to start charging their out-of-state customers for them. Some businesses fear that could alienate customers used to tax-free shopping. On the other side: ...
Democratic governor candidate J.B. Pritzker said Tuesday he would seek to temporarily raise Illinois' flat income tax rate and boost credits and deductions ... On Tuesday, Rauner's team questioned: “When is J.B. Pritzker going to be honest with Illinoisans about how much he wants to raise their taxes?”.
But just because they didn't have to file, doesn't mean they didn't have taxes withheld from their pay, which means a potential return. Similarly, people who made estimated tax payments that year and had overpaid may be owed a refund. • Americans don't always apply for the Earned Income Tax Credit.
But from a tax policy point of view, these types of taxes and fees aren't new and shouldn't come as a surprise. The Urban Institute's Richard Auxier says that if a city has a track record of expanding its sales tax to services, ride-sharing is a natural target. "This is just taxing something that should have been ...
By MoneyTips. Some taxpayers love to test the IRS boundaries on allowable deductions. Consider the business owner who had his store burned down and tried to deduct the arsonist's payment as a "consulting fee," or the businessman who amortized the value of his own life and tried to deduct it as a ...
Don't panic if you're still sitting on an incomplete tax return in early April. It'll get in the way of you saving money. As of March 23, the Internal Revenue Service received 85.6 million tax returns, roughly on pace compared to the same point last year. In all, the agency expects it will receive more than 155 ...
The clear trend points toward taxing digital transactions (no more tax-free internet). Taxing is based upon where the consumer resides. Collection is done via holding platforms collecting and remitting on merchants' behalf and/or the withholding of taxes on payments sent to offshore merchants.
REBNY said the new tax, which originated with Manhattan Borough President Gale Brewer last year, is hogwash. The organization claimed that that's not the solution when vacancies are coming as a result of economic issues that tenants face, rather than landlords, such as minimum wage increases, the ...
We have a progressive taxation system, which means that the more you make, the higher a percentage of your income goes to taxes. And figuring out what that share should be for you can be devilishly complex. If you make more than $100,000 a year, you should be consulting with a tax professional, ...
Wayfair, Inc. The problem with Internet sales taxes is that they're anti-competitive and would likely be experienced as a tax hike on consumers. ... and local officials and retail giants have lobbied members of Congress for nearly two decades to eliminate the physical presence limit on state taxing powers.
Taxes are used to fund government services, infrastructure, and public works projects and are an unavoidable cost of citizenship. While all Americans are subject to the same federal tax rates, the taxes they pay to their state and local governments varies depending on where they live — and these different ...
Many will feel it's unfair to pay massive capital gains taxes for 2017 without the ability to get immediate tax relief for new losses. Fortunately, there are a ... For starters, active cryptocurrency traders can qualify for trader tax status (TTS) to deduct trading business and home office expenses. TTS is essential in ...
On the last day of March, New York's legislature approved a budget package that included two provisions designed to get around a punitive clause in the congressional Republicans' new Tax Cuts and Jobs Act (TCJA). The TCJA included a limit of $10,000 on deductions for state and local taxes (SALT).
Tax experts said two plans Gov. Andrew M. Cuomo pushed for in the budget face certain challenges. One, which in effect converts local property taxes into charitable contributions, will most likely be questioned by the Internal Revenue Service. And the other — a complicated option to convert the state ...
Officials estimated Seattle would need to spend up to $13 million on an information-technology system and hire as many as 50 new staff in order to collect the tax. The city is appealing a November court ruling against the measure.
Kentucky Republicans unveiled a plan Monday that will make significant changes to how much the state taxes your income and services you receive. Senate President Robert Stivers, speaking briefly with reporters, acknowledged some may view the revenue proposal as a tax increase. “You can couch it ...
The April 17 federal income tax return filing deadline is looming, but it's not too late to make some moves that will save taxes on last year's federal income tax return. And maybe on your state return too. Here are four strategies for individuals and small business owners to consider before filing 2017 returns.
What actually happens if you don't pay your taxes? CNBC spoke to Lisa Greene-Lewis, certified public accountant and TurboTax blog editor, about the consequences you could face. Although everyone's tax situation is different, here are some of the things that might happen if you don't submit your 2017 tax ...
DMX, sentenced late March for $1.7 million tax fraud, is not the only public figure to run afoul of Uncle Sam in the runup to the tax-filing deadline in April. Pop star Cardi B ranted on Instagram about her hefty tax bill, which she estimated at 40 percent of her income. A spokesperson for the Los Angeles ...
Trump's claims regarding the effects of Amazon's ability to avoid sales taxes are, at least, partly true, but expanding sales tax collection requirements to ... He has published in The Accounting Review, Journal of Accounting and Economics, The Journal of the American Taxation Association, National Tax ...
ALBANY — New York is set to create an optional payroll tax and new charitable funds that will allow its residents to skirt new federal limits on the deductability of state and local taxes, officials said, becoming the first state to enact workarounds to the Trump administration's new tax law. It's a win for Gov.


 

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