Monthly Archives: marzo 2021

While Colorado would be better off exploring deeper reforms, including ending TABOR, this measure itself would be a mixed bag in terms of revenue and tax fairness. The researchers at the Colorado Fiscal Institute have concluded that it is nonetheless a net benefit to the state. Polling conducted this summer by Magellan Strategies found voters split pretty evenly on the initiative. In Georgia, sales taxes collected in one month must be sent to the State Department of Revenue by the […]

This allows the company to get paid for their goods or services in good time and the customer gets a bargain by paying less. The sales discount account reduces a company’s total revenue, it is therefore said to be a contra-revenue account and is a debit. Giving a sales discount is one of the ways companies maintain their customers, encourage more patronage or reward early payment for goods or services received. That is, a sales discount as a contra-revenue account […]

A gift loan is any below-market loan where the forgone interest is in the nature of a gift. $100 of interest was credited on your frozen deposit during the year. You withdrew $80 but could not withdraw any more as of the end of the year. You must include $80 in your income and exclude $20 from your income for the year. You must include the $20 in your income for the year you can withdraw it. You must include […]