Tax & Accounting Blog

Why Nature of Income Paid to Foreign Vendors Matters Part 3 – Uncategorized Income

Why Nature of Income Paid to Foreign Vendors Matters Part 3 – Uncategorized Income

In order for payments to foreign vendors to be timely made and correctly withheld and reported, accounts payable (AP) personnel need to know the nature of the income before payment is made, ideally before the invoice is received. Since many payments are based on the terms of the agreement, this can best be determined at … Read More

Texas Appeals, Arbitration and Appraisal Records

Texas Appeals, Arbitration and Appraisal Records

Texas recently passed two laws regarding changes to their appeals and arbitration processes along with a bill regarding military addresses in appraisal records. Alternative Property Tax Appeal H316 was recently passed, which provides an alternative appeal process for property owners with property valued at over $1 million. This bill offers such taxpayers in … Read More

Minnesota, North Dakota, Wisconsin: Income Tax Changes Affect Retirement and IRA Distributions

Minnesota, North Dakota, Wisconsin: Income Tax Changes Affect Retirement and IRA Distributions

Minnesota, North Dakota and Wisconsin have enacted personal income tax rate and bracket changes that are retroactive to January 1, 2013. Withholding on qualified retirement plan and IRA distributions is voluntary for all three states, but where the payer withholds, the withholding tables or formula method are used to determine the amount for Minnesota and … Read More

Clark County, Nevada Sheriff Pushing “More Cops” Sales Tax Increase

Clark County, Nevada Sheriff Pushing “More Cops” Sales Tax Increase

In Nevada, Clark County’s Sheriff Doug Gillespie is lobbying the seven County Commissioners for a .15% sales tax increase throughout the county to fund additional police officers and also avoid next year’s potential layoffs. Las Vegas’s Metropolitan Police Department is looking at a $30 million deficit, which will eventually cause a … Read More