Insights

In Case You Missed It: Last Week in Allyn Tax News (Dec 20)

December 20, 2024.
Tax Publications

Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? Live wreaths and garlands may be considered tax-exempt agricultural products in some states, but artificial versions are almost always taxable. To learn more, ask an expert here: https://lnkd.in/eMTnUw3y 12 Days of...

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...

Expanding 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...

Automation in Logistics: Job Killer or Efficiency Booster?

December 06, 2024.
Logistics Publications, Trade Publications

The logistics industry has always been the backbone of global trade, ensuring that goods move seamlessly from one point to another. However, as the world embraces technological advancements, the adoption of automation in logistics has sparked intense debates. Is it a job killer threatening livelihoods, or is it an efficiency...

Impact of Red Sea Disruption on Global Shipping

December 05, 2024.
Logistics Publications, Trade Publications

Last year’s Red Sea crisis had a major impact on global shipping due to attacks on container ships. These disruptions caused delays, increased costs and supply chain disruptions, affecting key global trade channels and routes. Traffic through the Suez Canal, a key bridge between Europe and Asia, has...

Tariff Comments About BRICS Countries

December 04, 2024.
Logistics Publications, Trade Publications

In recent developments, President-elect Donald Trump has made several statements regarding his stance on tariffs. The latest statement being on November 30, he stated on Truth Social: "We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace...

Latest Updates on Trump’s Tariff Decisions

November 26, 2024.
Logistics Publications, Trade Publications

In recent developments, President-elect Donald Trump has made several statements regarding his stance on tariffs. The latest statement being "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United...

President Donald Trump: What Can the Trade Community Expect in 2025 and Beyond?

November 26, 2024.
Trade Publications

Donald Trump’s 2016 presidency inaugurated major changes to US international trade policy, most notably the renegotiation of NAFTA into the US-Mexico-Canada Agreement (USMCA) and major additional tariffs on Chinese products in particular and aluminum and steel in general. The durability of these policies became apparent in 2020 at the turnover...

Post Election: US Tariff Risks

November 22, 2024.
Logistics Publications

A major topic of the 2024 Trump campaign was centered around the use of trade policy global diplomacy and economic protection strategies. With his election win, we can anticipate significant shifts in global trade action, including policies aimed at reshaping supply chains and trade practices. Here are some key takeaways...

In 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...

In 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...

Chinese Unreliable Entries List Expands Towards Commercial Business

November 14, 2024.
Logistics Publications, Trade Publications

In 2020, the Chinese Ministry of Commerce (MOFCOM) instituted a punitive trade sanction program called the Unreliable Entries List (UEL) with a broad mandate to protect Chinese national security and trade. Larger in scope than the US DoC Denied Persons List, the UEL sanctions specific people, organizations, and companies for...