Taxes

Declared undervalue on commercial vehicles triggers huge cash demands from Customs authorities

Declaring an incorrect undervalue of imported commercial marine craft to the Australian Border Force has cost importers nearly A$2 million (US$1.41 million). Although these particular events took place in Australia, experts advise that importers can run into problems with customs authorities all around the world. And, they say, customs authorities are only going to become …

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TaxWise Mobile App from Wolters Kluwer Helps Preparers Keep in Touch With Clients

The big five accounting firms get most of the attention in the industry. But they only make up 10% of the firms in the U.S. Overall, 90% of these accounting firms have 10 or fewer owners or partners. Wolters Kluwer Tax & Accounting designed its new TaxWise Mobile app for tax preparers. These preparers have …

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July diesel tax increase squeezes small carriers in the Midwest

FreightWaves’ SONAR chart of the week (July 14, 2019 – July 20, 2019) Chart of the Week: DOE Diesel weekly price per gallon – USA, Diesel Truck Stop average daily price per gallon – Columbus, Chicago, Louisville (SONAR : DOE.USA, DTS.CMH, DTS.CHI, DTS.SDF ) Twelve states increased their tax rates on diesel, the main fuel …

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65% of Small Businesses Got a Tax Refund for 2018 – and Most Were Happy

For individual taxpayers, refunds are a common thing. But for small businesses, it depends on the type of entity you establish and the type of taxes you pay. 2018 Small Business Tax Refunds Survey According to a report from OnDeck , 65% of the business owners received a tax refund in 2018. And while 75% …

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Cracking the Code on Tax Breaks for Businesses with Small Payrolls

Some federal tax breaks depend on being small. Small, in this case, means the number of employees you have. If your business grows , you may think about adding employees. But consider the impact this will have on your access to certain small business tax breaks. Credit for Starting a Retirement Plan This amounts to …

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