Harper & Company CPAs Plus’ Post

Nebraska needs your help. They are proposing a 'sin tax' that will hit spirits hard with a possible 287% increase in taxes making it the second highest spirits tax rate in the U.S. Article includes a link to let legislatures know what you think of this increase.

When you order takeout from your favorite restaurant, you're likely paying #salestax. Unless you live in Ohio. For residents of the Buckeye State, takeout food is #tax exempt. Yet the same meal purchased to be eaten in the restaurant is usually subject to sales tax. https://ow.ly/LEOk50SQ0h2

When you order takeout from your favorite restaurant, you're likely paying #salestax. Unless you live in Ohio. For residents of the Buckeye State, takeout food is #tax exempt. Yet the same meal purchased to be eaten in the restaurant is usually subject to sales tax. https://ow.ly/zKBm50SRoRT

Sweet Tax ruling! Do you have a VAT and Tax strategy in writing? and have you updated it? Marshmallows are ingredients, not sweets, judge rules in VAT row https://lnkd.in/dVmjSQ6v

Whether you’re familiar with the complexity of the U.S. three-tier system and the wild variance of distilled spirits taxes applied or just learning what a control state is, this is a fantastic snapshot of the entire country. 🌭 The author, Adam Hoffer rightly points out that: "As the product landscape continues to evolve, and calls for policy reform intensify, principled public policy changes should support industry growth and responsible consumption with neutral, simple, and transparent taxes." #DrinksIndustry #USSpiritsMarket @Tax Foundation

Multigenerational family-owned companies like the hundreds of WSWA Member companies nationwide are calling upon members of Congress to support Section 199A tax deduction -- Qualified Business Income (QBI) deduction. Why preserve these deductions set expire in 2025: > These deductions are crucial for the financial health and growth of these businesses. > Encouragement for Entrepreneurship: 199A deduction encourages entrepreneurship and investment in new businesses, fostering economic growth and innovation, and philanthropy. > Competitiveness: The deduction helps family businesses remain competitive with larger corporations. > Pass-Through Entities: The 199A ensures that these entities receive a comparable tax break to the reduced corporate tax rates. > Economic Stimulus: By leaving more money in the hands of business owners, the 199A deduction can stimulate economic activity as these funds may be reinvested in the business, used to hire more employees, fund investments in the community, and boost the economy.

🍻 Let's raise a toast and dive into the world of beer taxation! How do you think understanding tax implications can benefit small businesses during festive seasons like Saint Patrick's Day? Share your thoughts below! Learn more here: https://lnkd.in/eCaRRMA5 #TaxTalk #SmallBusiness #SaintPatricksDay

Navigating restaurant sales tax with the 80/80 rule and automation. Running a restaurant comes with its fair share of challenges, and one of the often-overlooked complexities is sales tax - failure to navigate the intricacies of sales tax regulations can lead to costly fines and penalties. California Regulation 1603 and its 80/80 rule stands out as a key determinant in sales tax application for food establishments. In this article, we’ll unpack the 80/80 rule when applied to sales tax, explain how it works, and how you can ensure all your bases are covered, with regard to your business’s compliance.

Here’s yet another example of the UK’s baffling tax system. A judge has ruled that mega marshmallows should be exempt from VAT as they shouldn’t be eaten on the go and should be toasted.     Toasted or not, I’m sure we can all agree that marshmallows are delicious – but I’m not sure anyone can say they’re essential.    Toilet paper, on the other hand… well, you’d be hard-pressed to find anyone who doesn’t think it’s an essential. In fact our polling found that 88% of people agree with us that it’s an essential item.    Except, of course, for HMRC.    That’s right. Our tax system doesn’t think toilet roll is essential, meaning we’re all paying 20% VAT, each and every time we go to the loo.    We think that’s crap, and earlier this year, we launched our campaign to Scrap the Roll Tax, calling on the Government to get rid of this unfair charge.    With over 18,000 signatures on our Change.org petition, it’s difficult to get my head around why the Government won’t scrap the roll tax. https://lnkd.in/eKRksDC5