General Contractors, Subcontractors, And Sales Tax
Who Pays the Sales Tax in a Construction Setting? Normally, the sales tax is paid on the materials when it is purchased. If not, you need to make sure it
April 30, 2024
Who Pays the Sales Tax in a Construction Setting? Normally, the sales tax is paid on the materials when it is purchased. If not, you need to make sure it
Documenting Spoilage in a Sales Tax Audit If you purchased items that cannot be sold due to spoilage or damage, you need to document it properly. Otherwise, you might be
Sales tax audits are not always a precise science of calculating the true number that a business might owe. A lot of times it’s almost guessing at the most reasonable
You might want to file for a voluntary sales tax disclosure if you want to avoid penalties. However, you have to meet the test. Transcript Why Would You Want to
Depending on the type of labor that you are providing, you might need to tax the transaction, or maybe a part of it. Make sure to break down the invoice
Is your automotive repair shop undergoing a sales tax audit? Make sure to pay special attention to the differences between consumables, repairs, and fabrication. Warranties also require different taxation rules.
If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who
When a person sells a capital asset, the sale normally results in a capital gain or loss. A capital asset includes inherited property or property someone owns for personal use
Do you have rights as a taxpayer?The answer is YES! 1. The Right to Be Informed Taxpayers have the right to know what is required to comply with the tax
Understanding IRS Compensation for IRA Deductions It is important to understand how the IRS defines compensation in order to deduct your IRA contributions. For example:You own an S-Corporation and you
The Internal Revenue Service today provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into
Reminder to Employees: Plan Now for 2017 The Internal Revenue Service today reminded eligible employees that now is the time to begin planning to take full advantage of their employer’s
Ansari Law Firm is a multi-state business and state tax law firm, with offices in Texas (Dallas, Fort Worth, San Antonio & Houston), Georgia and Illinois.
Ansari Law Firm is a multi-state business and state tax law firm, with offices in Texas (Dallas, Fort Worth, San Antonio & Houston), Georgia and Illinois.
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