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New Credit Card Reporting Requirement Worries Some Taxpayers
And you thought bank fees were bad… There’s a new form on the block, Form 1099-K, Merchant Card and Third Party Network Payments, making its debut in a few months, just in time for the 2012 filing season. The form is the result of new compliance reporting requirements for certain credit card and third party…
Are You Ready to File For Your Tax Extension?
Are you scared to look your tax professional in the eye? The deadline for taxpayers who requested an automatic six-month filing extension is fast approaching–and if Twitter is to be believed, many taxpayers still have to get their information to their tax preparers. Remember that most taxpayers on an extension must file their tax returns on…
Why Apple, Buffett, And The Super Rich Aren’t Using Tax Loopholes
My 7-year-old is always looking for an angle. Recently, she asked for a cookie before bedtime. I said yes. She asked for another one. I said no, just one. “But,” she whined at me, “They’re vegan!” My husband seemed to think she had a point. What Amy was doing was trying to find a loophole….
Holy Zappos! New York is Collecting Sales Tax on Online Sales.
Many online retailers received a shock last month when they received official notice from the State of New York that they must register and begin collecting sales tax. Until this month, companies that didn’t have a store or “physical presence” in New York were not required to collect the sales tax. This idea of taxation…
Steve Jobs Is NOT Giving You Tax Advice (But If He Did…)
We are a Mac household. And a Mac family. Before you judge, rest assured that it wasn’t that cute Justin Long that influenced our decision. We were all-Mac before it was cool. My husband was a Drexel grad back in the 1980s when Drexel standardized the Apple and has been addicted obsessed hooked a fan…
McDonald’s In McTrouble?
The Russians think so: Russia’s tax authorities allege that McDonald’s owes more than $6m in back taxes. McDonald’s, which currently has 183 fast food stops in Russia received the tax bill in August, according to The Times. The tax bill stems from allegations that the company procured ingredients from unlicensed companies which “posed a threat…
