Retail Gift Card Rules

Print Retail advisory firm, Grant Thornton LLP, has announced the release of its new white paper, Gift Cards: Opportunity and Issues for Retailers. The paper examines the gift card industry and looks at the tax and accounting implications of recent legislation on retailers. “Gift cards have become an area of both opportunity and risk for [...]

E-Filing Tax Tips

According to the IRS, more than 100 million Americans and businesses filed their tax returns electronically last year, and even more are expected to efile this year. Not only is efiling quick and easy, it can reduce errors on tax forms, expedite the refund process and alleviate the worry of having your tax return lost [...]

Battle Between States and Etailers Over Sales Tax Collection Heating Up

With tax income dwindling, states are going after out of state etailers that don’t pay their fair share. Independent retailers say it’s about time.

Citing a Boost in Business, Retailers Push for a School-Supply Tax Holiday

Florida retailers say the state actually made more money during a tax holiday on school supplies last year. They want it to become an annual event.

Consideration of a Value Added Tax Decried

More retail taxes would only serve to cut jobs and raise prices, group says

Update: Small Biz Jobs Act

A new law quietly passed by Congress will have some significant impact on small businesses and the costs they undertake. How will you be affected?

NY Tax Woes Hit Small Retailers

The ongoing economic doldrums are going to hit independent retailers in New York State particularly hard this year, according to the New York Association of Convenience Stores. Jim Calvin, president of NYACS, says the state’s lack of tax collection on cigarettes sold on Indian tribal lands is going to impact the mom-and-pop stores off the [...]

Survey: VAT Increase Would Cut Consumer Spending

A Value-Added Tax being mulled in Washington has retailers worried. A survey says shoppers will cut spending if it’s enacted.

Small Businesses Fear Expiring Tax Cuts

Tax cuts that went into effect under former President George W. Bush are set to expire at the end of this year. That could be bad news for small business owners, the Wall Street Journal reports. “Because most small firms are structured so that they pay individual rather than corporate income taxes, some would be [...]

Action on Death Tax

The head of the House Ways and Means Committee says he plans to begin work shortly on a permanent solution for the federal estate tax that was temporarily repealed for the year 2010. Other Bush Administration era tax cuts are also set to expire at the end of this year. “The sooner we do it [...]

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