Deadline extended to pay restaurant sales tax in Arkansas
In response to the coronavirus pandemic, the state of Arkansas has delayed the payment of restaurant sales tax. Taxpayers in Arkansas may delay remitting restaurant sales tax and filing returns as follows: Sales tax remittances and reports for sales tax collected in March, April and May 2021 are not due until June 30, 2021; sales tax remittances […]
Restaurant Revitalization Grants ready to roll soon
The Small Business Administration has announced that registrations for the $28.6 billion Restaurant Revitalization Fund grants will open at 9 a.m. EST Friday, April 30, with the application officially open at noon EST Monday, May 3. The online application will remain open to any eligible establishment until all funds are exhausted. If you plan to […]
Changes to premium tax credit could increase penalty risk for some businesses
The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created the credit. The American Rescue Plan Act (ARPA), signed into law in March 2021, made several significant enhancements […]
More guidance issued on Massachusetts sales and meals tax changes
We advised you a couple months ago that beginning April 1, Massachusetts had enacted accelerated remittance of sales and meals tax. Few details were available at that time, but the state has recently updated its guidance so we wanted to provide you more information. According to the state, businesses that had $150,000 or more in sales […]
Sales tax on food delivery sales is a moving target
Delivery is quickly becoming an indispensable segment of food sales. With different delivery companies entering the market, restaurant owners need to be careful that they are keeping track of who is remitting sales tax on delivery sales each month. The best way for McDonald’s owner/operators to keep up with this is to review the delivery […]
IRS Tax Tip: Know the difference between standardized and itemized deductions
It’s a good idea for people to find out if they should file using the standard deduction or itemize their deductions. Deductions reduce the amount of taxable income when filing a federal income tax return. In other words, they can reduce the amount of tax someone owes. Individuals should understand they have a choice of […]
Uber Eats to begin reporting sales tax on delivery sales
The landmark Supreme Court decision in South Dakota v. Wayfair in 2018 that permitted states to tax remote sales and collect sales tax also has a significant impact on McDonald’s owner/operators and other businesses that use delivery services. Under the Wayfair decision, states have begun implementing Marketplace Legislation where marketplace facilitators – like Uber Eats […]
Nina Daigle, Lindsey Pierce named partners with Antares Group, Inc.
Antares Group, Inc. is pleased to announce that Nina Daigle, CPA, and Lindsey Pierce, CPA, have been promoted to Partner with the firm. Lindsey and Nina have both been with Antares Group, Inc., for nine years and are members of the Business and Tax Advisory Group. “The promotion of Nina and Lindsey to partner marks […]
Florida taxpayers eligible for sales tax breaks for donating to scholarship programs
Taxpayers in Florida have some more options this year to donate to scholarship programs and receive a break on their taxes. Florida Sales Tax Credit Scholarship Program: Under legislation that was signed recently by Gov. Rick Scott, those renting or leasing property can receive a 100 percent credit on the sales tax imposed on the […]
N.C. updates sales tax requirements
The cost of updating and remodeling restaurants in North Carolina, as well as repairing and maintaining property, will soon increase. The state recently enacted changes to its sales and use tax regulations. The sales tax has now been expanded to include repairs, maintenance and installation to real property, certain capital improvements and digital property. Repairs, […]