In general, you can deduct up to 60% of your adjusted gross income via charitable donations (100% if the gifts are in cash), but you may be limited…

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Are services subject to sales tax in Ohio? “Goods” refers to the sale of tangible personal property, which are generally taxable. “Services” refers to the sale of labor…

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Also, no cooperative is exempt from Federal income taxation and filing Federal income tax forms. … Taxes are a factor in the planning of every individual and business….

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Charities are not VAT exempt. Just like non-charitable organisations, a charity must register for VAT with HMRC if its VATable sales are over the VAT threshold. You can…

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How can I get an IRS lien removed? Paying your tax debt – in full – is the best way to get rid of a federal tax lien….

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Insurance premium tax (IPT) is a tax on the premium you pay for most general insurance policies where the risk is located in the UK. … However this…

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Why is taxation important in accounting? The purpose of tax effect accounting is to account for both the current and future tax consequences of: the future recovery or…

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An employer-sponsored Roth 401(k) plan is similar to a traditional plan with one major exception. Contributions by employees are not tax-deferred but are made with after-tax dollars. Income…

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Output tax is the tax that a VAT registered business is required to charge on its taxable supplies (broadly, its sales) at the standard and reduced rates of…

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During the first year of Reagan’s presidency, federal income tax rates were lowered significantly with the signing of the Economic Recovery Tax Act of 1981, which lowered the…

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