Tax & Accounting Blog

Paying Foreign Employees Part 4: Tax Treaty Exceptions

Paying Foreign Employees Part 4: Tax Treaty Exceptions

ONESOURCE May 24, 2012

The United States has income tax treaties with over 60 countries. Tax treaties provide exemptions from income taxes but not from employment taxes with one exception. Teachers or Researchers from one of the nine countries eligible for an exemption from tax on their compensation covered by the Former USSR/CIS treaty are also exempt from Social Security and … Read More

Louisiana Hurricane Preparedness Sales Tax Holiday Begins This Weekend

Louisiana Hurricane Preparedness Sales Tax Holiday Begins This Weekend

 This weekend, shoppers in Louisiana will be able to purchase hurricane preparedness related items without paying the 4% state sales tax.  From Saturday the 26th through Sunday the 27th, the sales tax holiday exempts items $1500 and under including flashlights, radios, gas tanks, batteries, coolers, and generators.  For a more complete list of items, you … Read More

Tax Professionals, Technology, Orlando & More

Tax Professionals, Technology, Orlando & More

The annual Association for Computers and Taxation (ACT) kicks off their annual conference tomorrow at Disney’s Contemporary resort and we on the Thomson Reuters Product Management team are excited to lead a discussion on Data Management and Warehousing in the Cloud.  We’re gearing up to present on how technology can play a significant role in tax data management.  If you’re planning … Read More

Paying Foreign Employees Part 3: Special Payroll Rules

Paying Foreign Employees Part 3: Special Payroll Rules

Special payroll rules apply to nonresident employees, some increasing withholding and others providing for exemptions from tax. The federal wage withholding rules for nonresident employees mirror the tax return limitations for these taxpayers: They may claim only one personal exemption with a few exceptions They must file using single or married-filing-separately rates (the highest rates) … Read More