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New Mexico Lawsuit Sparks Marijuana Business Tax Debate

PYMNTS

Paying business taxes is a key source of friction for many legal marijuana companies in the nation, particularly for companies that operate on a cash-only basis. Under the state’s tax rules, prescription drug sales are exempt from gross receipt taxes. million refund. million refund.

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Tax Reform Shows Early Signs Of SMB Bank Lending Impact

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tax reform led to much chatter and some confusion about exactly how changes would impact the nation’s small businesses (SMBs). Department of Treasury finalized rules that apply to SMBs on qualifying for a 20 percent tax deduction, with the National Federation of Independent Business (NFIB) applauding the initiative.

Taxes 122
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The Strange Spending Trends Around Sales Tax Holidays

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According to the National Retail Federation , as of last year parents entered August with about 45 percent of their back-to-school shopping done. In 2017, Americans spent $83.6 In 2017, Americans spent $83.6 How Tax Holidays Work.

Taxes 101
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Retailers Win In Stimulus Bill

PYMNTS

While most of the focus has been on the $1,200 payout to consumers, retailers will also gain from the bill’s revision of two key points from the 2017 tax bill. The first change prevented retailers and restaurants from depreciating building improvements within a tax year. In the U.K.,

Retail 170
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3 top tech trends for public accountants to watch in 2017

Abrigo

Ellison-Taylor, chairman of the AICPA , recently noted that technology tops her list of the most important trends shaping 2017 because it will drive so many of the profession’s opportunities and challenges in the year ahead. Kimberley N. But how are accountants supposed to keep up with all of the technological trends ? Register here.)

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H&R Block Acquires SMB Finance Platform Wave

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Consumer tax solutions provider H&R Block is ramping up its position in the small business financial services market with the takeover of Wave. Wave will continue to operate as an independent entity within H&R Block. The deal was reached for $405 million in cash.

Taxes 161
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Bitcoin Daily: Tether’s Parent Co. Hit With $1T Lawsuit; Nearly $10B In Bitcoin Held In Crypto Exchanges

PYMNTS

Cotten didn’t file personal tax returns for 2014, 2015 or 2017 and his 2016 return didn’t report any income from Quadriga, and Robertson’s tax returns from 2015 and 2016 showed income of less than C$60,000 a year, while in 2017 there was income of less than C$5,000 — but none of it from Quadriga.

Bitcoin 181