Are travel tax subsidies a good idea?
San Jose State University Blogs
Latest from San Jose State University
Employee Retention Credit Issue – What is likely policy resolution?
Shifting tax base to consumption tax is bad idea
In January 2020, a Nebraska legislator introduced LR300CA, to amend the state constitution to prohibit all forms of taxation other than a consumption tax. The proposal states that the tax is to be at a single-digit rate. Presumably, both the state and local governments could have a single-rate tax. It would apply to all new goods and services, but does not define this term. It sounds like it means tangible personal property and services,…
13th Anniversary of the 21st Century Taxation Blog
Non-COVID Topic – Form 1040-SR and Data
Business Loss Change by CARES Act – Track Changes and Policy
Observations on recent pandemic tax changes and a few more needed
I think the administrative and legislative changes to address health and financial problems of the global coronavirus pandemic has led tax practitioners to spend more time figuring it all out than was needed for tax reform change of the Tax Cuts and Jobs Act! Of course, the timing of dealing with this right now is more significant than with the TCJA.
I won’t go through all of the changes since there are many other sources,…
Tax Change Ideas to Address Coronavirus Costs
AB 5 Alternative or How Business Owners Can Better Spend $800 Per Year
In September 2019, California enacted a new worker classification approach called the ABC test (AB 5 – see Oct 2019 post). Basically, AB 5 starts with the presumption that all workers are employees rather than independent contractors (unless they work for the State of California which is exempt from many state labor laws). If A, B and C of the law are met, the worker is a contractor. If A, B and C are…
Confusion Abounds – What is Virtual Currency? Issues for Your 2019 Federal Return
Likely, most people think of bitcoin, now over 10 years old, when they hear “virtual currency.” If you look at CoinMarketCap, you’ll see over 2,000 cryptocurrencies listed with bitcoin at the top given its market value. Others at the top include Ethereum, Bitcoin Cash, Litecoin, and Monero. Well, what makes something a virtual currency in the eyes of the IRS? This is even a more important question for this current tax filing season due…