Five Facts about the Small Business Health Care Tax Credit If you are a small employer, there is a tax credit that can put money in your pocket. The small business health care tax credit benefits employers that: • offer coverage through the small business health options program, also known…
Mansoor AnsariJune 1, 2016
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 AnsariJune 1, 2016
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 AnsariJune 1, 2016
Dallas Texas Little cigar sales tax audit Everything is bigger in Texas - even the big tax on little cigars. Texas does things a little differently in determining the taxation of little cigars. Taxation is broken down into classes: Distributors must report based on the classification of the cigar or…
Mansoor AnsariMay 31, 2016
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 AnsariMay 29, 2016
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 AnsariMay 29, 2016
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 AnsariMay 29, 2016
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 AnsariMay 27, 2016
Houston Texas Grocery and Convenience Stores Taxable Nontaxable Sales Examples of Taxable Items • adhesive tape • alarm clocks • ale • aluminum foil • ammonia • ammunition • appliances • automotive items (oil, transmission fluid, antifreeze, etc.) • baby care products (oil, lotion, powder, etc.)** • baby clothing •…
Mansoor AnsariMay 21, 2016
Dallas Texas Hotel Tax Exemptions Texas has among the highest combined hotel occupancy tax rates of any major metropolitan areas in the nation, with Houston at 17 percent and San Antonio at 16 ¾ percent. In addition to local hotel occupancy taxes, all lodging properties operating in Texas are subject…
Mansoor AnsariMay 20, 2016
Houston Texas Franchise Tax At first glance, franchise tax might sound like something you have to pay if you were to own a Dunkin Donuts or a 7-Eleven. However, it doesn't mean franchise in terms of a business model where you have a franchisee and a franchisor. A franchise tax…
Mansoor AnsariMay 20, 2016
Houston Texas Sales Tax Auto Repair We get just as many calls from individuals looking to repair their cars as mechanic shops wanting to know what their sales tax obligations are when it comes to repairing automobiles. NOTE: Sales tax is due on all parts and labor for the sale…
Mansoor AnsariMay 20, 2016