Taxation

What is Utah tax rate 2021? The Utah sales tax rate is currently 4.85%. The County sales tax rate is 1.35%. The Salt Lake City sales tax rate is 0.5%. Read more on www.avalara.com One of the US states with the lowest tax burdens is known as Utah. With a flat income tax rate and … Read more

What happens if you don’t have an EIN for 1099? If you do not have an EIN for your vendor, you can still process your own tax forms and even issue a 1099. If you continue to contract with a vendor that does not provide an EIN, you may be required to perform backup withholding … Read more

Can you write off LLC losses against ordinary income? If you have a sole proprietorship, partnership, LLC, or S-corp, you can claim some of your business losses on your personal taxes. However, the IRS does not typically allow business owners to deduct every expense. Usually, you can deduct any expenses explicitly related to your rent … Read more

Can you write off a nanny on taxes? A taxpayer can partially write-off nanny expenses as long as the nanny is paid legally, the child is under 13 years of age, and both spouses are working. This tax break is typically applied one of two ways: through a tax credit when filing income taxes, or … Read more

Can you deduct nails on taxes? Salon expenses can only be deducted if it’s strictly for work. Unfortunately, you can’t get a mani-pedi and claim it’s to help you do better at the office. Read more on bench.co Many people question if they may deduct expenses for their personal appearance, like getting their nails done, … Read more

How do I pay taxes on staking Crypto? If you follow and apply IRS Notice 2014-21, the guidance on mining income, a staking reward is taxable as ordinary income at its fair market value on the date you receive it. If, at a later date, you sell the crypto received as a staking reward, you’ll … Read more

Do I charge tax as a consultant? Professional services are not subject to sales tax in the state of California. Read more on www.wrike.com Starting a small consulting firm may be both thrilling and intimidating. While there are many chances to share your knowledge and skills with clients, operating a business also entails a lot … Read more

What is the sales tax in Rio Rancho NM? 7.69% What is the sales tax rate in Rio Rancho, New Mexico? The minimum combined 2022 sales tax rate for Rio Rancho, New Mexico is 7.69%. This is the total of state, county and city sales tax rates. Read more on www.avalara.com Rio Rancho is a … Read more

Does Iowa have 7% sales tax? Iowa has state sales tax of 6%, and allows local governments to collect a local option sales tax of up to 1%. There are a total of 832 local tax jurisdictions across the state, collecting an average local tax of 0.988%. Read more on www.salestaxhandbook.com The state of Iowa … Read more

Do you pay sales tax on labor in Iowa? Labor is exempt from sales tax for real property and structures only. Not tangible personal property. You pay tax to the supplier for materials. You do not charge tax to the customer for labor or materials. Read more on www.iasourcelink.com If you own a company or … Read more