If your cryptocurrency activity this past year included any taxable event, it’s important that you are tracking your activity properly and have the necessary documents when you file. If you’re not sure about which activities are taxable events, check out our blog on taxable cryptocurrency activity here.
The start of a new year is an obvious time to strategize for your manufacturing business, but really, any time is the right time to invest in strategies and initiatives that will help your business grow. Below are five areas manufacturing businesses should consider investing their resources this year.
In 2018, a Supreme Court decision in the case of South Dakota v. Wayfair expanded retailers’ responsibilities to collect sales taxes on out-of-state purchases. This decision affects companies selling tangible personal property – including digital property, depending on the state – through a company website to anyone in a different state, despite the selling company having no other connection to the state where their product was purchased.
If your company is developing new or improved business components, including products, processes, software, techniques, formulas, or inventions, that result in new or improved functionality, performance, reliability, or quality, it’s time to take a look at the R&D (research and development) tax credit.