Tuesday, November 30, 2021

Sales Taxes In 2022 — Issues To Watch For Online Retailers

States are seeing double digit growth in sales tax revenue, a trend that has been fueled in part by changes in consumer spending during the pandemic. 

According to the latest data from the Urban Institute, 42 states reported higher sales tax revenue from April–September versus the same period in 2020. What's more, an incredible 27 states reported annual growth of over 20% during that period.

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Publisher: Forbes
Date: 2021-11-30
Author: Liz Farmer
Twitter: @forbes
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Bloomberg - Are you a robot?
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Save money on taxes

With a turbulent 2021 drawing to a close, it may seem like the end of year is already here and there's nothing left to be done for your finances.

Here are 10 deductions physicians should explore. Not every deduction is right for every physician, but you won't know until you ask. It depends on each physician's individual circumstances, so speak to your tax professional.

Publisher: Medical Economics
Twitter: @Medical Economics
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Elon Musk's exit from California can save him $2 billion in taxes

By Elon Musk's standards, his May 2020 tweet wasn't all that weird. "Possessions kind of weigh you down," he said on a podcast a few days later, and went on to list seven homes in California. In December, he announced he'd moved to Texas. His charitable foundation followed and, soon, Tesla Inc.

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Publisher: East Bay Times
Date: 2021-11-30T12:23:38 00:00
Twitter: @eastbaytimes
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Ukrnafta paid almost UAH 11.5B in taxes in Jan-Oct 2021

“In January-October 2021, PJSC Ukrnafta paid UAH 11.45 billion of taxes. This amount includes rent payments for subsoil use, VAT, income tax, excise duty and other taxes,” reads the report.

Over the reporting period, the company transferred UAH 6.75 billion of rent payments for subsoil use to the state and local budgets of various levels. In particular, local budgets received UAH 337.6 million.

Twitter: @ukrinform
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USE AN IDENTITY PIN FOR SECURITY WHEN FILING TAXES | 1330 & 101.5 WHBL

In observing National Tax Security Awareness Week, Secretary Peter Barca said the agency will be ready by mid-December to accept applications for a taxpayer's unique Identity Protection PIN number through the Department of Revenue's website, offering what he called "yet another layer in our

Once you get a PIN, you'll be able to use it in the signature line on your Wisconsin individual tax return and homestead credit claim. Those who sign up for the program will receive a new PIN each year, ensuring that nobody but you will be able to claim your Wisconsin tax return.

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Publisher: 1330 & 101.5 WHBL
Author: Kevin Zimmermann
Twitter: @WHBL
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Joe Biden's 'aggressive' use of a tax loophole he's trying to shut down - The Washington Post

"Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes."

Whenever there is a controversy over whether a politician paid enough in taxes, we are reminded of Hand's famous quotation. There is nothing wrong with someone taking legal steps to reduce the taxes they may owe.

Publisher: Washington Post
Date: 2021-11-30T08:00:30.575Z
Twitter: @WashingtonPost
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Avoiding Late Payments for Deferred Payroll Taxes Under CARES Act

Companies that took advantage of the payroll tax deferral under the Coronavirus Aid, Relief, and Economic Security (CARES) Act should be aware of an IRS position regarding repayment of the deferred taxes. If repayment is delinquent, even by just one day, a harsh consequence could ensue.

Publisher: The National Law Review
Date: 5493B547C0AB527FF4CF8C4D0127302A
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