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Market to market election and OVDP

Market to market election and OVDP How does the Mark to Market election work in the years after the OVDP period? The question is pointing to the modified Mark to Market election available to taxpayers who participate in the IRS Offshore Voluntary Disclosure Program. The rules work a little differently…
Mansoor Ansari
June 1, 2016
News and ArticlesTax News

Dallas Hotel Consumables sales tax audit

Dallas Hotel Consumables sales tax audit If you are the owner of a hotel, then, chances are that you providing hotel consumables - soap, shampoo, conditioner, mouthwash, shower caps, pens, notepads, and other similar non-reusable, consumable items . If you are undergoing a Texas sales and use tax audit, then,…
Mansoor Ansari
June 1, 2016
News and ArticlesTax News

Texas lease sales tax audit

Texas lease sales tax audit If you lease equipment for the purpose of renting it someone else in Dallas or Houston, you may need to charge a sales and use tax in Texas. However, if you are renting the equipment to someone, but you will operate the equipment, you do…
Mansoor Ansari
May 29, 2016
News and ArticlesTax News

Houston Texas Coin Operated Machine Tax

Houston Texas Coin Operated Machine Tax A tax is imposed on any person engaged in any business dealing with coin-operated amusement machines OR engaged in business to own or operate coin-operated amusement machines exclusively on premises occupied by and in connection with the business. Here is some good news. Section.…
Mansoor Ansari
May 29, 2016
News and ArticlesTax News

Texas Cigarette and Tobacco Tax Smuggling

Texas Cigarette and Tobacco Tax Smuggling Smuggling cigarettes into Texas has become a serious problem as taxes are increasing and business owners are looking for ways to maximize their products. However, this business plan is not one to implement. We have seen many business owners being audited by the Comptroller.…
Mansoor Ansari
May 29, 2016
News and ArticlesTax News

Sales Tax on Telecommunications Services

Sales Tax on Telecommunications Services Telecommunications services between locations in Texas are subject to state and local sales tax, whereas most interstate telecommunications services are only subject to state sales tax. Mobile telecommunications services are subject to state and local sales tax based on the place of primary use. "Telecommunications…
Mansoor Ansari
May 27, 2016

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