7 tips to increase your chances of getting business financing
Fact: Understanding your financing needs and options is crucial before applying for business financing.
income
Missouri House passes phase out of corporate income taxes over next few years
Missouri House members voted to phase out all corporate income taxes over the next few years.
Fast-food companies seeing low-income diners pare orders
Fact: Roughly a quarter of low-income consumers, defined as those making less than ,000 a year, said they were eating less fast food and about half said they were making fewer trips to fast-casual and full-service dining establishments.
‘Turkish Cypriots’ future lies in European values’
Fact: The Turkish Cypriots’ future “lies in European values,” according to opposition party CTP leader Tufan Erhurman.
Corporate Jets And The IRS | JD Supra
Fact: The IRS announced that it will begin auditing corporate jet usage to ensure high-income groups are not avoiding tax responsibilities by improperly allocating the use of corporate jets between business and personal reasons.
Biden Is Right: Corporate Tax Avoidance Has Big Problems That We Can Fix
Fact: In the first five years of the Trump tax law, 109 profitable corporations paid no tax in at least one year, and 23 paid no tax over the entire five-year span despite being profitable each year.
Five Things to Know About Tax Foundation’s Critique of Maryland’s Worldwide Combined Reporting Proposal
On April 1, 2024, Maryland lawmakers are considering enacting worldwide combined reporting (WWCR) to calculate state corporate tax more accurately and prevent tax avoidance by corporations. The Tax Foundation published a blog criticizing WWCR, but their arguments were debunked by experts. WWCR aims to tax Maryland income regardless of offshore shifting and will make forecasting easier. The Tax Foundation’s ties to corporations known for tax avoidance raise concerns about their opposition to WWCR. WWCR is seen as a sensible reform to ensure fair taxation of multinational corporations in Maryland.
Tax Breaks the Rich Won’t Be Able To Get Starting in 2025
The Tax Cuts and Jobs Act passed in 2017 will expire in 2025, leading to increased income tax rates, reduced standard deductions, and the end of certain tax benefits for high-net-worth individuals. The estate tax exemption will also be reduced. Wealthy Americans should start preparing for these changes by considering income tax strategies and estate planning options.
New York, Illinois, And California Lawmakers Propose Higher Taxes
The most recent state-to-state migration data shows that California, New York, and Illinois are experiencing population loss to red states due to factors such as high taxes, high housing costs, and crime. Lawmakers in blue states like New York and Illinois are proposing tax hikes, while red states like Georgia and Iowa are taking action to reduce taxes and improve their fiscal advantages. Governor Gavin Newsom of California has blocked some tax hikes, but voters will decide on a proposed income tax increase in November.
Australia bank CEOs call for a fix to housing shortage
Australia’s housing shortage is driving prices higher and locking out first-time homeowners and migrants needed to fill skills shortages across the country, according to the CEOs of Australia’s three largest banks.