4 results for tag: Taxes

The U.S. $1 Trillion Infrastructure Package Spotlights Crypto Transactions / Crypto Taxes

It appears that the U.S. Senate is moving closer to passing a $1 trillion infrastructure package recently after lawmakers from both parties came together and voted to clear a key procedural hurdle. The measure would provide a massive injection of federal money for a range of public works programs, from roads and bridges to broadband Internet access, drinking water, and more. This occurred over this weekend in a rare showing of bipartisanship. For those of us who are paying attention, especially for our Customers, there is a provision, tucked inside this massive infrastructure bill that would require tax reporting for transactions similar to ...

Tax Economics: What You Should Know and Why You Should Care

Taxes impact each of us. Each of us differently. Tax is the polite term for paying for rendered services and tax authorities seek ways to extract the most from its citizens without causing a revolt. Nearly all armed uprisings include a measure of taxation, its perceived fairness, and the use of the “proceeds” as an underpinning. Taxes, their policy and collection metrics, encourage behaviors. Not all behaviors are honorable. This posting (and any future ones) is not designed to be a full treatise on tax policies as there are library shelves filled already. The intent of these words is to remind some and inform others as to the true ...

2018 Car and Truck Depreciation Limits

For this year's 2018 Depreciation Limits, business use vehicles offer opportunities and challenges. Claiming depreciation as a business expense for personally available vehicles is a clear advantage. As is common, a “but” is included due to special rules known as “Listed Property” attributes. These rules recognize there are both personal and business attributes associated with the same asset; the vehicle has a value to the individual and their business using the vehicle which has necessitated specific 2018 Car and Truck Depreciation Limits. The conceptual challenge is that there are differences between a business van say, for a “Cons...

Social Security Taxes: Are You Paying Too Much

2017 Basics: Social Security Withholdings Not every Business Owner knows "All" or is aware of some of the details of their mistakes. Click to Continue for an introduction to key facts on Social Security and what you must do for your employees and how you can save yourself some money.   As a business owner, you're responsible for withholding certain federal taxes from your employees' wages. These include Federal Insurance Contributions Act taxes, or more commonly known as FICA taxes.   DID YOU KNOW: There's a cap on the wage amount for Social Security taxes, so that once an employee's wages exceed the capped ...