Jan 24, 2015 | Business Taxes, Filing Taxes, Sales & Use Tax
A business is responsible for collecting and remitting all applicable state taxes if it has a physical presence within the state of Arizona, such as:A physical storeA warehouseAn officeA sales representativeAdditionally, an out-of-state seller is required to collect...
Jan 15, 2015 | Arizona Individual Tax Credits, Business Taxes, Filing Taxes, Tax Reporting
Retailers in the state of Arizona have to collect a sales tax of 5.6 percent on all goods and services sold. However, this is only the beginning, as the issue of sales tax is notoriously complex and can create headaches for even the most conscientious business owners....
Dec 29, 2014 | Business Taxes, Employment Taxes
Figures from 2010 show that 83 percent of personal tax liability convictions forced the offender to serve jail time, and the average sentence was two years. It is also important to note that these figures were all-time highs, which suggests the IRS is becoming even...
Dec 29, 2014 | Business Taxes, Payroll Taxes
The IRS can hit you with a 100 percent penalty, known as a Trust Fund Recovery Assessment, if you are a responsible person. While courts will focus on whether you have knowledge of non-payment of taxes, you don’t need to have performed the tax withholdings to be...
Dec 29, 2014 | Business Taxes, FICA
Employers must report wages, tips, and other forms of compensation paid to employees throughout the year. This is done by filing the correct forms. There are several major dates on the calendar when it comes to employers filing taxes:Jan. 31: Deadline for filing Forms...
Dec 29, 2014 | Business Taxes, Deductions
These deductions are only made if the employee agrees to them. This money pays for different benefits that the employee has elected to participate in. Examples include health and life insurance premiums, employee stock purchase plans, retirement contribution plans,...
