1099 Essentials: Key Concepts and Common Challenges
December 12, 2024.
Tax Publications
In the United States tax system, the 1099 form plays a vital role in ensuring accurate reporting of various types of payments made to non-employees, such as independent contractors, freelancers, and vendors. This form is named after Section 1099 of the U.S. tax code, which governs how these payments are reported...
Read MoreExpanding to a New Location: Leveraging the Benefits of Freeport Exemptions
December 11, 2024.
Tax Publications
In light of the recent presidential election, president-elect Donald Trump has made a statement regarding the future of tariffs. He has expressed interest in increasing tariff rates up to 60% on items from China, and 10-20% on goods from other countries. For more information on these changes, please refer to Post...
Read MoreIn Case You Missed It: Last Week in Allyn Tax News (Nov 22)
November 22, 2024.
Tax Publications
Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? Pumpkins used for cooking may be tax-free, while pumpkins meant for decoration are often taxable. For example, in Iowa, you’ll be taxed on a pumpkin with no intention of becoming pie! To learn...
Read MoreIn Case You Missed It: Last Week in Allyn Tax News (Nov 11, 2024)
November 15, 2024.
Tax Publications
Allyn Tax Fun Facts Happy National Veteran’s Day! Are you ready for more Allyn Tax Fun Facts? Some states offer tax-free shopping days around Veterans Day for veterans and active-duty military personnel. For example, Louisiana has a “Veterans Day Sales Tax Holiday” where eligible veterans enjoy...
Read MoreIn Case You Missed It: Last Week in Allyn Tax News (Nov 8)
November 07, 2024.
Tax Publications
Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? In some states, candy is taxable, while in others, it’s exempt as a grocery item. The real twist? States like Illinois tax candy at a higher rate than other food items, unless it...
Read MoreDrop Shipping Explained: A Beginner’s Guide to E-Commerce Success
November 06, 2024.
Tax Publications
As a company grows, managing every aspect of its operations can become increasingly challenging, especially when it comes to shipping. One way to ease this burden is by utilizing drop shipments. In a drop shipment transaction, a retailer or seller receives an order from a customer and forwards it to...
Read MoreIn Case You Missed It: Last Week in Allyn Tax News (Nov 1)
November 01, 2024.
Tax Publications
Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? Some states tax costumes while others don’t. Massachusetts exempts children’s costumes but taxes adult ones. In New York, costumes priced over $110 are taxed as luxury items! To learn more, ask an...
Read MoreLast Week in Allyn Tax News (Week of October 21)
October 25, 2024.
Tax Publications
Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? Bottled water is taxable in Washington. However, you can request a refund of the sales tax if the water is prescribed to you by a doctor. To learn more, ask an expert here: ...
Read MoreWeathering the Storm: Tax Authorities Step In to Provide Relief After Helene and Milton
October 24, 2024.
Tax Publications
On Thursday, September 26, 2024, Category 4 Hurricane Helene struck Florida's Big Bend, causing widespread flooding, significant property damage, and disabled infrastructure across Florida, Georgia, the Carolinas, Tennessee, Virginia, and Kentucky. Less than two weeks later, Category 3 Hurricane Milton made landfall in Florida on October 9, 2024, bringing torrential rainfall, severe winds, a tornado...
Read More3 Things You Didn’t Know Affected Tire Tax
September 03, 2024.
Tax Publications
What is a tire tax? Tire tax, also known as scrap tire fee, solid waste fee, and tire disposal tax, is a fee imposed on the sale of a new tire or replacement of an old one. Proper disposal requires significant state or local resources, justifying the collection of this...
Read MoreShop ‘Til You Drop (the Tax): Upcoming Sales Tax Holidays
July 09, 2024.
Tax Publications
A sales tax holiday is a brief period when certain goods or services are exempt from sales taxes, implemented by governments to boost consumer spending and the economy. Typically lasting a few days or a weekend, these holidays often occur during back-to-school season or before major holidays. Commonly exempted items...
Read MoreJuly 2024 Colorado Retail Delivery Fee Rate Increase
June 25, 2024.
Tax Publications
Effective July 1, 2024, the retail delivery fee rate will increase from $0.28 to $0.29. A retail delivery fee is imposed on all deliveries by motor vehicle to a location in Colorado with at least one item of tangible personal property subject to state sales or use tax. The retailer or marketplace facilitator that...
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