Selling business how much tax

Share to Twitter Share to Linkedin The looming prospect of compliance with the reporting requirements in section 6050I has been a problem for the digital asset industry since the passage of the Infrastructure Investment and Jobs Act (P.L. 117-58) last November. The requirements pose procedural obstacles and privacy concerns for taxpayers, but the government has an interest in ensuring compliance with the tax laws. The revised version of section 6050I requires taxpayers engaged in a trade or business to file an information return when they receive $10,000 or more in digital assets in one transaction or two or more related transactions in the course of that trade or business. The information required is the name, address, and tax identification number of the person from whom the assets were received; the amount of the assets; and the date and nature of the transaction. The provision was originally designed for cash transactions. The brief push for … [Read more...] about Tax Information Reporting On Digital Assets Steps Into The Spotlight

- A + A KUALA LUMPUR (June 28): CC International Bhd made a debut on the LEAP Market of Bursa Malaysia Securities Bhd on Tuesday (June 28), opening at 27 sen per share, a premium of one sen over its 26 sen reference price. At the opening bell, a volume of 10,000 shares were traded. The group’s listing was the 16th on Bursa and the third on the LEAP Market in 2022. The group said that RM6 million, a majority of its total gross proceeds of RM10.06 million raised, will be used to fund the group’s business growth and expansion through mergers and acquisitions, joint ventures, strategic partnerships and collaborations with other professional service providers that provide similar or complementary services. Another RM1 million will be utilised for investment in software and hardware for its new branch offices as well as additional information technology personnel to support the group. Meanwhile, the remaining RM2.06 million and RM1 million will be allocated to fund CC … [Read more...] about Multidisciplinary business services CC International debuts on LEAP Market at 27 sen

Naveen Kulkarni of Axis Securities The sense on the Street is that India's banking shares could be a big mover over the next 12 months, as all the positives start getting priced in. In conversation with Moneycontrol, Naveen Kulkarni, Chief Investment Officer at Axis Securities also believes that the picture for Indian IT sector 'remains quite complex' at this juncture. He advices investors to be selective, and also to wait for another quarter to understand the changing trends here. Here's the full interaction. Do you think the new-age tech companies will delay their IPO plans, especially after already-listed new-age companies were hit quite badly in the recent turmoil and corrected more than others? The market has changed for technology companies after the significant correction seen on the Nasdaq. As central bankers around the world try to manage the liquidity - which is fuelling global inflation - the cost of funds will continue to rise. This will have the most … [Read more...] about Daily Voice | FII selling may now abate, banks ripe for up move over 12 months

The United States Supreme Court on Friday eliminated the constitutional right to obtain an abortion , casting aside nearly 50 years of precedent that began with the Roe v. Wade case. The highly-charged case, decided by the court's conservative majority, is sure to spill over into the workplace. Business owners who don't already know where they stand on the issue, are likely going to have to figure one out, especially if they want to help employees with covering the costs of getting legal abortions. The 6-3 decision , which has been anticipated since a draft opinion leaked in May, will lead to near total bans on the procedure in about half of the states across the country. Twenty-two states already impose strict restrictions while 18 states are expected to ban abortion outright, or only allow it in limited circumstances. Thirteen states, including Texas, Mississippi, and Oklahoma, already have trigger laws in place that took effect automatically, while others are written to … [Read more...] about Roe v. Wade Is No More. What Businesses Need to Know About Covering Abortions

Last week, I wrote about how to avoid ending up with inventory you cannot sell . But let's say that's exactly what you have: A garage stacked with boxes of product you thought consumers needed, but have had trouble getting off your hands. In my experience, this is not uncommon. For more than 15 years now, I've been hearing a version of the story below. You have this great idea for a new product you believe everyone wants. So you file a patent application, which, after it issues and all is said and done, ends up costing you about $15,000. You work with a manufacturer overseas to produce the minimum amount required for an order, which runs you between $20,000 and $50,000. You pay a professional to help you set up your website and begin selling on Amazon, which you perceive to be a low-cost course of action. All in all, by the time you're in business, you've made a major financial investment. But without the marketing to back it up, the reality is, finding your … [Read more...] about What to Do With All That Inventory You Can’t Sell

Employees assemble a Mahindra & Mahindra Ltd. XUV 500 sport-utility vehicle (SUV) on the production line at the company's facility in Chakan, Maharashtra, India, on Monday, April 2, 2018. Mahindra & Mahindra is India’s largest SUV maker. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Robust consumer demand teamed with an ongoing shortage of chips has seen wait times for Mahindra & Mahindra Ltd.’s XUV700 sports utility vehicle balloon to as long as 22 months just as the carmaker unveils the latest model in its big-automobile lineup. Outstanding customer pre-orders for the seven-seater XUV700, which the Indian automaker launched in August, are running to around 70,000, Executive Director Rajesh Jejurikar said in an interview last week. While the chip shortage has eased from a peak late last year, Mahindra is still … [Read more...] about Love of big cars, chip crunch extends wait time for M&M

KUALA LUMPUR: MyNews Holdings Bhd posted a net loss of RM10.22mil in the second quarter ended April 30, against a net loss of RM10.32mil in the same period last year. The convenience retail chain operator’s revenue for the quarter rose 35.7% to RM141.1mil from RM103.94mil achieved in the same quarter a year prior. The improved revenue was contributed by the growth in the number of outlets and increase in footfall upon relaxation of the full lockdown by the government. Its number of outlets increased to 556 from 519 in the second quarter. Mynews, in the notes accompanying its financial results, said was an increase in administration expenses from RM7.81mil to RM8.97mil. “This was attributed to the continual addition of new talents, and cost of marketing materials to promote the new retail brands, new products and the 66 new CU stores launched over the most recent two quarters,” it said. In addition, selling and distribution expenses increased from RM20.76mil to … [Read more...] about Mynews posts net loss of RM10.22mil in 2Q22

Share to Twitter Share to Linkedin By Nathan Resnick Sending out a press release is a great way to get significant attention for your company. While the majority of journalists use press releases as a source for news, standing out in today’s digital environment can be difficult. Some news outlets receive hundreds of press releases in a single day—so it shouldn’t be surprising that 70% of journalists spend less than a minute reading each one. You don’t have much time to make an impression and get that coveted press coverage for your brand. Putting in some extra work to make sure the press release will be a smashing success before you send it out can make all the difference. What makes a great press release? 1. Your content is truly newsworthy This is the first big test: Is the topic of your press release actually newsworthy? Is it something that journalists—and the wider audience they serve—will care about? In many ways, … [Read more...] about 4 Signs Your Latest Press Release Will Be A Success

Share to Twitter Share to Linkedin As cryptoassets enter a new crypto winter, the temptation is to relegate cryptoassets (and blockchain) to the backburner, and that would be a disservice to the accounting profession as well as the investors seeking to allocate capital to this fast growing asset class. While cryptoassets have moved far beyond simply discussing bitcoin price volatility, Certified Public Accountants (CPAs) would be forgiven for remaining focused on the implications of said volatility. Given the dramatic drawdowns in prices across the crypto sector, the implosion of several prominent crypto banking protocols and increasingly negative sentiment, allocating even more time to crypto might seem like an odd choice. That said, even during the current crypto winter, the pace and prevalence of crypto adoption continues to accelerate almost unimpeded. With the number of individuals using cryptoassets numbering in the hundreds of millions, with a billion … [Read more...] about What CPAs Should Think About During This Crypto Winter

India’s gig economy could employ 2.35 crore people by FY30, representing a three-and-a-half-times increase over 10 years, a report by the government think-tank NITI Aayog estimates. The gig economy employed around 68 lakh people in FY20, India's Booming Gig and Platform Economy: Perspectives and Recommendations on the Future of Work report released on June 27 said. The total number of employed persons in India in FY20 is estimated to be 51.10 crore. The report expects the number to rise to 56.96 crore by FY30. Usually temporary and part-time, gig jobs can range from food delivery to driving for ride-hailing companies such as Ola and Uber. "At present, about 47 percent of the gig work is in medium skilled jobs, about 22 percent in high skilled, and about 31 percent in low skilled jobs," the report said. Close "But the trend shows the concentration of workers in medium skills is gradually declining and that of the low skilled and high skilled is increasing. It … [Read more...] about ‘Gig economy’ may employ 2.35 crore people by FY30, says NITI Aayog report