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Yearly Archives: 2019
5 DECISIONS TO MAKE WHEN STARTING A BUSINESS
Have a Business Plan a) Business plans are used for financing. b) They provide a yardstick against which future performance will be measured. c) They provide a framework for decision making and coordination of business. d) They define the business … Continue reading
Posted in Blog, Business
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Supreme Court Decision and Sales Tax
In June 2018 Supreme Court effectively reversed a previous ruling (Quill v. North Dakota, 1992) which prohibited states from requiring on-line retailers, with no physical presence in the state, from collecting and remitting sales tax. The decision in South Dakota … Continue reading
Posted in Blog, Business, News, Tax News
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Wayfair decision could impact your business
Nexus describes the amount and degree of a taxpayer’s connection with a state before the taxpayer becomes subject to the state’s taxing jurisdiction. If a taxpayer has established sales and use tax nexus, the state will require the taxpayer to register, collect and remit sales and use taxes on sales made to purchasers in that state. Continue reading
2019 New Mileage Rates
It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, except members of the Armed Forces … Continue reading
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401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000
The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000. The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute … Continue reading
