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Tag: TAXES

New York state may begin taxing music downloads

New York, the state that brought us taxes on items bought over the internet is at it again. This time governor David Paterson is considering a 4% tax on music and other digital media downloads. To be fair, times are tight and Paterson is also proposing raising taxes on soda, cable and satellite TV, gas, cigars, beer, and movie and sports tickets in order to balance the state budget. But at a tim...

Newegg says 'No' to NY sales tax law

At the beginning of the summer, a new sales tax law went into effect in New York State, requiring online retailers who have some sort of presence in the state (like shipping centers or affiliate programs) to charge sales tax on any item shipped to New York residents. Big e-tailers like Amazon.com and Newegg complied with the new law, although Amazon is still suing the state of New York, claiming t...

GoBootstrap makes business accounting simple

If you run a small business, odds are you've got some sort of system for tracking income, expenses, and tax payments. But we're going to bet it's not as simple as the system offered by GoBootStrap. The web service offers a sort of accounting for dummies style interface. To enter income, just click the income tab, describe the client, assignment, and amount, and you're all set. The expenses tab ...

Amazon to collect taxes in NY while fighting NY in court

While Amazon plans to fight New York's recent decision to start collecting, the company has updated its tax collection page to let NY customers know that it will begin collecting tax on June 1st. The state of New York recently passed legislation which requires any company with affiliates in the state to collect taxes on any items sold in New York. That covers companies like Amazon which allow in...

Overstock.com to NY: No tax dollars for you!

The state of New York recently adopted a law that requires online retailers to collect taxes for items sold in New York if they have affiliates based in the state. That might sound like a reasonable request if New York shopping malls were littered with Amazon and Overstock.com kiosks. But the affiliates the law refers to are web publishers and bloggers in NY who happen to post links to stores lik...

New York to begin charging sales tax for online purchases

You know how if you live in most states in the US you don't have to pay sales tax on items purchased online? Yeah, that's about to change for about 19 million residents of New York State. Legislators have approved a bill that requires large online stores to collect sales tax for anything shipped to New York. Technically, the tax isn't new. Consumers were supposed to be reporting these purchases o...

U.S. Senate considers extending internet tax ban

You know how you you don't have to pay taxes on your internet service? (If you're a US citizen, at least). Yeah, that might last. In fact, it might not even last much longer than a month. In 1998 the U.S. government passed a law preventing states from taxing internet access. The goal was to encourage the growth of internet service providers. The law is set to expire on November 1st, but the Senate...

Taxing online sales

As if there wasn't enough to complain about with the IRS, add this to the list. The US Treasury Department is making a charge at forcing Internet auction sites to turn over the identities and social insurance numbers of their users to the IRS so they can keep tabs on income made through these types of sales. Sometimes you read a story and you don't even know where to start directing your anger. T...

Turbo Tax flaw leaves online tax return data vulnerable

A Nebraska woman recently found a glitch in the way Turbo Tax lets users file their taxes over the web. By trying to access information she had filed in previous years, she found a way to access data three other users had previously uploaded. Each of those other users had the same last name as the woman, but different first initials. The information included social security numbers and bank accoun...

"Adios" to Spanish-American War Phone Tax

Believe it or not, if you're an American, you've been paying a 3% excise tax on all of your long distance calls to finance the Spanish-American war (yup--the same war that ended years before Theodore Veil founded the first long-distance networking firm, AT&T). This week, that tax has been officially repealed, hinting that the old war has finally been paid for, some 108 years later. Or, perhaps...

Which tax software equals the biggest return?

We've seen a couple round-up reviews of tax software, and while features and ease-of-use matter, a question that shouldn't be neglected is: which will give me the biggest refund? AP's Ashley Heher pitted H&R Block's TaxCut, Intuit's TurboTax, and 2nd Story's TaxAct against eachother to find out. She found that while TaxCut and TurboTax had similar results $600 versus $588, TaxAct, somehow, cam...

Online taxt prep software reviewed

A couple weeks back PC World did a round-up review of three of the latest tax preparation software offerings. This week they're back with revews of five different web-based tax prep packages: Intuit's TurboTax, CCH's CompleteTax, H&R Block's TaxCut, 2nd Story's TaxAct, and Petz' TaxBrain. They break down like this, with total costs including both federal and state returns: TurboTax.com: St...

TaxCut includes free tax CDs in magazines

H&R Block is taking a cue from AOL. In major computer magazines this month, H&R Block is providing free CD-ROMs of its TaxCut tax software to readers. The CDs were spotted in PC Magazine and PC World. The same program costs $10 on TaxCut's Web site, so it's a pretty good deal. It's the federal version only, so H&R Block still can make money from you when you buy a state version (if y...

PC World reviews tax software

As far as the media is concerned, "tax time" is the entire period from January 1 to a couple weeks after April 15. Just as your tax documents begin to roll in, PC World has posted a review of the three major software tax preparation offerings: Intuit's TurboTax, H&R Block's TaxCut, and 2nd Story's TaxAct. TurboTax taskes the prize for the best value for your money, but which one is b...