Tax

LODGINGRevs Partners With Five New Texas Cities

Monday, October 19, 2020 - 5:09pm

DURANGO, Colo., Oct. 19, 2020 /PRNewswire/ -- Texas cities are harnessing the power of LODGINGRevs to make the most of Hotel Occupancy Tax.

Key Points: 
  • DURANGO, Colo., Oct. 19, 2020 /PRNewswire/ -- Texas cities are harnessing the power of LODGINGRevs to make the most of Hotel Occupancy Tax.
  • A boom in the short-term rental market has created an opportunity for cities to capitalize on the sharing economy.
  • These latest clients in Texas will benefit from the robust platform that LODGINGRevs has to offer.
  • With a long-standing relationship in Texas Hotel and Occupancy Tax collection, LODGINGRevs positions itself as a chosen solution for the unique compliance needs throughout Texas.

Armanino Foods of Distinction, Inc. Reports Net Sales and Earnings for the Third Quarter Reversing Second Quarter Loss

Monday, October 19, 2020 - 1:00pm

Third quarter earnings eclipsed the second quarter loss, enabling the Company to continue its streak of being profitable on a year to date basis for 69 quarters in a row.

Key Points: 
  • Third quarter earnings eclipsed the second quarter loss, enabling the Company to continue its streak of being profitable on a year to date basis for 69 quarters in a row.
  • Net sales for the third quarter of 2020 were $8,321,414 compared to $10,334,608 for the same period last year, a decrease of 19%.
  • Income before taxes for Q3 2020 was $904,267 compared to $1,725,189 for the same quarter in 2019, a decrease of 48%.
  • Specifically, this quarters net income of $723,356 more than made up for the net loss we incurred last quarter.

New Study Finds Estate Planning Solutions from Biden Tax Plan, Wealth Advisors Trust Report Finds

Sunday, October 18, 2020 - 4:05pm

RAPID CITY, S.D., Oct. 18, 2020 /PRNewswire-PRWeb/ --A team lead by family corporate trustee management expert, Christopher Holtby, has published a report about estate tax issues and solutions affecting the top 1% of wealthy families in America.

Key Points: 
  • RAPID CITY, S.D., Oct. 18, 2020 /PRNewswire-PRWeb/ --A team lead by family corporate trustee management expert, Christopher Holtby, has published a report about estate tax issues and solutions affecting the top 1% of wealthy families in America.
  • The report concluded:
    a) Current estate and gift tax exemption amount, inflation adjusted, highest level in 100 years.
  • c) November election results could reduce estate and gift tax exemption amounts by 50% or more.
  • For questions about the report, a comment on the findings, or an introduction to the industry experts included in this report, contact, Christopher Holtby at holtby@wealthadvisorstrust.com
    Wealth Advisors Trust Company, based in South Dakota, revolutionizes trust administration with common sense.

Classic Motorcycles - Sitting Astride a Tax Free Fortune with The Motorcycle Broker

Friday, October 16, 2020 - 9:19pm

A tax efficient form of inheritance that can also provide tax breaks for smaller company owners.

Key Points: 
  • A tax efficient form of inheritance that can also provide tax breaks for smaller company owners.
  • There are also two further factors driving the classic motorcycle market from this era towards a massive price explosion.
  • The second factor is of course China, the largest motorcycle market on the planet, which has now opened its borders to classic motorcycles for the first time.
  • The episode finishes with Paul providing some takeaway points for investors to consider when purchasing a classic motorcycle.

Putnam Investments Announces Distribution Rates for Class A Open-End Funds

Friday, October 16, 2020 - 4:24pm

This is only an estimate for the current fund fiscal year based on information we have at this time.

Key Points: 
  • This is only an estimate for the current fund fiscal year based on information we have at this time.
  • In January 2021, we will provide final information about all 2020 distributions for your tax filing.
  • If a funds dividend included an estimated distribution such as a return of capital or capital gain: For the purposes of this disclosure, a funds dividend sources are determined in accordance with accounting principles, which may vary from federal tax treatment.
  • Any non-taxable return of capital cannot be determined until after the end of the funds fiscal year.

Blueknight Declares Quarterly Distributions

Thursday, October 15, 2020 - 9:15pm

The third quarter 2020 distributions for both the preferred and common units remain unchanged from those paid for the second quarter of 2020.

Key Points: 
  • The third quarter 2020 distributions for both the preferred and common units remain unchanged from those paid for the second quarter of 2020.
  • The distributions are payable on November 13, 2020, on all outstanding common and preferred units to unitholders of record as of the close of business on November 3, 2020.
  • Accordingly, Blueknights distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
  • Nominees, and not Blueknight, are treated as withholding agents responsible for withholding on the distributions received by them on behalf of foreign investors.

It's More Important Now Than Ever to Solve IRS Tax Issues

Thursday, October 15, 2020 - 1:44pm

FORT LAUDERDALE, Fla., Oct. 15, 2020 /PRNewswire/ --The tax relief experts at BH Tax Relief Inc., want to remind you that it's extremely important to get your tax issues resolved as soon as possible.

Key Points: 
  • FORT LAUDERDALE, Fla., Oct. 15, 2020 /PRNewswire/ --The tax relief experts at BH Tax Relief Inc., want to remind you that it's extremely important to get your tax issues resolved as soon as possible.
  • At BH Tax Relief Inc., we willwork hard on your behalf to finda way to bring you relief to your unresolved IRS issues.
  • When approaching a tax resolution case, we can implement the following methods:
    About BH Tax Relief Inc.
    BH Tax Relief Inc. is a tax relief agency serving the state of Florida.
  • Our teams of expert CPAs have years of experience resolving tax issues, providing tax planning and preparation services, and IRS audit defense.

From the Tax Law Offices of David W. Klasing - IRS Targeting the Wealthy for Audits and Criminal Tax Investigations

Thursday, October 15, 2020 - 11:37am

IRVINE, Calif., Oct. 15, 2020 /PRNewswire/ --In recent years, the IRS has come under fire from some prominent critics in Congress about the fact that the agency seems to have disproportionately been targeting low-income taxpayers for audits and criminal tax investigations while letting wealthier Americans get away with tax crimes that cost the agency exponentially much more money.

Key Points: 
  • IRVINE, Calif., Oct. 15, 2020 /PRNewswire/ --In recent years, the IRS has come under fire from some prominent critics in Congress about the fact that the agency seems to have disproportionately been targeting low-income taxpayers for audits and criminal tax investigations while letting wealthier Americans get away with tax crimes that cost the agency exponentially much more money.
  • As a result, the IRS has doubled down in the last few years in its efforts to crack down on tax fraud by the wealthiest Americans, announcing a program aimed at auditing those in the highest income brackets and doubling down on its commitment to the "Wealth Squad" unit .
  • If high net worth taxpayers do not voluntarily come forward and enter a domestic and or offshore voluntary disclosure program to correct their noncompliance before the IRS begins auditing or criminally investigating their issues, they will at best, face draconian civil penalties and, at worst, face criminal tax prosecution.
  • If you are a wealthy individual who has filed false, incomplete, or omitted FBARS & foreign information returns and simultaneously understated domestic or offshore taxable income in the past, you should get in contact with an experienced dual licensed International Tax Attorney and CPA like those at the Tax Law Offices of David W. Klasing as soon as possible to minimize civil penalties and avoid criminal tax prosecution.

Jackson Hewitt Tax Service and Its Franchisees Expect to Hire 22,000 for 2020-2021 Tax Season

Wednesday, October 14, 2020 - 7:01pm

Jackson Hewitt and its franchisees provide extensive training to ensure their Tax Pros are prepared to assist clients when it comes time to file taxes.

Key Points: 
  • Jackson Hewitt and its franchisees provide extensive training to ensure their Tax Pros are prepared to assist clients when it comes time to file taxes.
  • "At Jackson Hewitt, we work hard for the hardest working Americans to ensure accurate tax returns with the guaranteed largest refund amount, and we're looking for people to join our team as tax professionals," said Greg Macfarlane, CEO and President of Jackson Hewitt Tax Service.
  • Candidates interested in becoming a Jackson Hewitt Tax Pro can choose to take the Jackson Hewitt Fundamentals of Tax Preparation Course **to learn how to prepare taxes from experienced tax professionals and determine if tax preparation is right for them.
  • About Jackson Hewitt Tax Service Inc.
    Jackson Hewitt Tax Service Inc. is an innovator in the tax industry, with a mission to provide its hard-working clients access to simple, low-cost solutions to manage their taxes and tax refunds.

Mitchell and Claim Toolkit Join Forces to Help Simplify the Total Loss Settlement Process for Automotive Insurers

Wednesday, October 14, 2020 - 2:28pm

The joint offering will be featured at this week's Mitchell mPower Conference and availability is expected in early 2021 for U.S. customers.

Key Points: 
  • The joint offering will be featured at this week's Mitchell mPower Conference and availability is expected in early 2021 for U.S. customers.
  • "Through Mitchell's WorkCenterTotal Loss solution and Claim Toolkit's Total Loss Taxes and Fees, we can provide carriers with the information needed to help them determine fair and accurate market value for total loss vehicles, inclusive of the taxes and fees."
  • Carriers can then use Mitchell WorkCenter Total Loss to seamlessly export a summary report or more detailed breakdown of the charges.
  • "Mitchell is committed to helping insurers successfully navigate the complexities of total loss vehicle valuations," said Mike Lawlor, Vice President of Editorial and Total Loss at Mitchell.