theonlinetaxguy

 Key Findings There are over 11,000 sales tax jurisdictions in the United States, with widely varying rates. Among major cities, Chicago, Illinois and Long Beach and Glendale, California impose the highest combined state and local sales tax rates, at 10.25 percent. Three cities follow with combined rates of 10 percent or higher: Tacoma (10.2 percent)
0 Comments
HSA (Health Savings Accounts) can be a tax-efficient way to save for future health care expenditures Getty Health Savings Accounts (HSAs) might be the single most powerful tax-advantaged savings vehicle in the IRS tax code. You can deduct contributions, experience tax-deferred gains and withdraw money tax free for qualified tax expenditures. It’s essentially a no-tax
0 Comments
Taxpayer defined; W-4 2.0; cryptocurrency and FBAR; and other highlights from our favorite tax bloggers. Unresolved issues IRS Mind (https://www.irsmind.com/): In 2018, the IRS questioned the accuracy of about 6 million returns, most often using a CP2000 — under-reporter — matching notice. About 3 million CP2000 notices were sent in 2018. In second place is
0 Comments
Alan Greenspan Anjali Sundaram | CNBC Former Federal Reserve Chairman Alan Greenspan said nothing is stopping the U.S. from getting sucked into the global trend of negative yielding debt, Bloomberg reported Tuesday. “There is international arbitrage going on in the bond market that is helping drive long-term Treasury yields lower,” Greenspan said in a phone
0 Comments
The recent feud between President Trump and Representative Elijah Cummings (D-MD) over conditions in Baltimore may have one benefit: it lets us reopen a debate over how the federal government should best assist America’s cities. Federal aid to cities has declined dramatically since President Johnson’s 1960s war on poverty that nearly tripled federal grants to
0 Comments
The Association of International Certified Professional Accountants and the Management Accounting Section of the American Accounting Association have recognized two professors for their contributions to management accounting research. Adam Presslee uwaterloo.ca Adam Presslee, assistant professor of accounting at the School of Accounting and Finance at the University of Waterloo in Ontario, Canada, and Laura Wang,
0 Comments
President Donald Trump meets business leaders at the Great Hall of the People in Beijing, China, in November, 2017. Jonathan Ernst | Reuters CNBC’s Jim Cramer said on Tuesday that the Trump administration’s decision to remove some items from its new China tariffs list signals the president wants to halt the stock market’s decline. “I
0 Comments
The capital gains tax is once again a political tug-of-war. While Democratic presidential candidates discuss changes in capital gains tax to boost federal revenue, the Trump White House is pulling in the opposite direction: a possible executive order to require the US Treasury to index capital gains for inflation—effectively a tax cut that would, controversially, bypass Congress.
0 Comments
Panoramic Images | Getty Images Many global investors are turning toward Silicon Valley instead of Wall Street in search of returns. The total invested in private markets hit all-time highs last year and continues to break multi-decade records this year. In the first half of the year, total investments in venture capital hit a 19-year
0 Comments
Who pays no federal income tax? Not who you think. TPC’s Howard Gleckman reviews the research by Don Fullerton of the University of Illinois at Urbana-Champaign and Nirupama Rao of the University of Michigan. They’ve taken a close look at the share of people who pay no federal income tax — the “47 percent” that
0 Comments
The Roku IPO at the Nasdaq, September 28, 2017. Source: Nasdaq Here are the biggest calls on Wall Street on Monday: Needham raised its price target on Roku to $150 from $120 Needham said Roku’s “value proposition” among advertisers is “growing.” “Key take-aways from this report include: a) given similar valuations, we prefer Roku to
0 Comments
The following comments were submitted to the Office of the United States Trade Representative regarding docket number USTR-2019-0009 on August 12, 2019. Thank you for the opportunity to provide comments on the Section 301 Investigation. These comments cover four areas. The structure of the French digital services tax, How that structure interacts with domestic and foreign
0 Comments