PayPal removes fee refunds
PayPal: effective as of October 11, 2019, will not charge a fee to process refunds, but the fees from the original transaction will not be returned.
Want to know more?
PayPal: effective as of October 11, 2019, will not charge a fee to process refunds, but the fees from the original transaction will not be returned.
Want to know more?
The Changes in Sales Tax Laws You Should Know as an Out of State Seller Welcome to the evolution of Nexus. Having a physical presence in a state is no longer the only thing that dictates if you are required to collect and remit a state’s sales tax as an out of state seller. Economic…
The Child Tax Credit is a normal credit that may appear on your federal income tax return. Changes that took place in 2021: If you’re married and make less than $150K a year you receive the full $2,000 credit per child (single, less than $75K). Half of your eligible credit is being paid out during…
Shera asks: Q: So the owner’s draw doesn’t have any tax consequences like a salary would, correct? A: Correct – the owner’s draw account does not have any tax consequences like a salary. As a Sole Proprietorship or single member LLC (seen as the same as a Sole proprietor to the IRS), the Net Income (the…
A4J Quick Tip to Understand Sales and Use Tax: Sales and Use Tax are different perspectives of the same thing. A seller collects and remits Sales Tax to their tax authority, while a buyer who wasn’t charged sales tax owes Use Tax. You are the buyer when you buy things for your business that are…
Note: You have to require your store report which items sold; they don’t all willingly do this. If you have a store that doesn’t report what items have sold, then you can keep it as an invoice and simply receive payments to the invoice until it is paid off. For Consignment items, create a New…
PAYROLL PROTECTION PROGRAM Great News! The PPP Forgiveness has changed thanks to the PP Flexibility Act that passed into law last Friday. We’ve been boggled with calculations previously, and now it is all much simpler. Here are the revised Guidelines: 24 weeks to use the funds instead of 8. until Dec 31 to return to…