• Taxes in the gig economy Crunch Network

    Taxes in the gig economy

    The first generation of gig economy contractors is essentially riding shotgun as an entirely new industry defines itself. While they enjoy flexibility and a convenient way to supplement a primary income, they also must act as guinea pigs uncovering the shortcomings of the industry’s support network. One issue in particular has become a clear gap for gig economy workers: taxes. Read More

  • petition seeking Trump tax returns flies past 100,000 signature goal petition seeking Trump tax returns flies past 100,000 signature goal

    A petition calling for President Donald Trump to immediately release his tax returns has surpassed the 100,000-signature threshold in under a day, garnering a Whitehouse response. It’s not clear that the current administration intends to follow the practice established under Former President Barack Obama, of accepting petitions online, reviewing and responding to… Read More

  • ClearTax nabs $1.3M to make filing taxes online in India less stressful

    ClearTax nabs $1.3M to make filing taxes online in India less stressful

    The Indian government has taken several steps to make filing taxes online easier, but the process can still be, well, taxing. ClearTax wants to make it easier. The startup, a Y Combinator alum, just raised angel funding of $1.3 million. Investors include Max Levchin (this is the PayPal co-founder’s first investment in India), Scott Banister, Neeraj Arora, Naval Ravikant, and Ruchi Sanghvi. Read More

  • #VATMESS Is About To Get Much Messier Crunch Network

    #VATMESS Is About To Get Much Messier

    Indie developers were rightly up in arms at the recent changes to the place of supply rules for B2C sales — deftly coined #VATMESS by Twitter wags. The rules were well-intentioned — it was not right that Apple, Google and Amazon could set up shop in Luxembourg, thus gaming the tax system and disadvantaging EU competitors. However, the implementation was cack-handed Read More

  • HP Finds Mobile Tax Apps Lacking On Security, Privacy

    HP Finds Mobile Tax Apps Lacking On Security, Privacy

    As the clock ticks toward midnight, putting an end to tax day 2014, Hewlett-Packard is warning consumers of mobile tax and finance apps that they may want to audit their own usage. According to the HP Audit, more than 90 percent of the applications the company tested, including TurboTax, TaxACT and TaxSlayer, contained at least one potential privacy violation. Read More

  • Tax Day Advice From A Bitcoin Expert

    Tax Day Advice From A Bitcoin Expert

    As we approach tax day, many bitcoin fans may be wondering how to handle all of their newfound wealth. Given the recent ruling that BTC are property, not currency, things can get kind of hairy when mining, buying, or trading your BTC. What to do? Thankfully, folks like Tyson P. Cross are around to help. The owner of BitcoinTaxSolutions, Cross handles tax returns and offers tax planning with… Read More

  • Report: Changing Tax Rules For Tech Giants Would Mean $89 Billion For U.S. Gov

    Report: Changing Tax Rules For Tech Giants Would Mean $89 Billion For U.S. Gov

    Tech giants, including Google to Apple, are notorious fans of offshore tax havens, which saves them billions of dollars. A new report from the Bureau of Investigative Journalism finds that “if this cash was brought onshore and taxed at the current US corporation tax rate of 35%, it would produce a $89bn windfall for the US Treasury – equivalent to 17% of America’s… Read More

  • 3 Mind-Bending Ways Apple Dodged $13.8B In Taxes

    3 Mind-Bending Ways Apple Dodged $13.8B In Taxes

    Kudos to Apple’s finance lawyers, who are the Cirque Du Soleil of legal contortionism. On the eve of live testimony from CEO Tim Cook, CFO Peter Oppenheimer and Phillip Bullock, head of Apple’s tax operations, a scathing congressional investigation of Apple’s tax dodging strategy reveals how the computer giant avoided $13.8 billion in taxes through a clever labyrinth of… Read More

  • Attention, Angel Investors: You Have Until Jan. 1 To Lock In 100% Tax-Free Capital Gains On Startup Stock

    Attention, Angel Investors: You Have Until Jan. 1 To Lock In 100% Tax-Free Capital Gains On Startup Stock

    Angel investing has been on the rise over the past few years (see Crunchbase chart below), and this year is no exception. A quirk in the tax laws is helping. Any “qualified small business stock” purchased between September 27, 2010 and January 1, 2012 and held for at least five years is 100 percent exempt from capital gains. After January 1, the tax exemption reverts to the normal… Read More

  • Senator To Propose New Internet Sales Tax

    The second most senior Democrat in the U.S. Senate, Dick Durbin, will propose a new scheme that would force online retailers like Amazon and iTunes to collect local taxes for each and every transaction. He’s expected to make the proposal the day after Tax Day, and it’s expected to be controversial within two seconds of having been announced. Read More

  • Interstate Tariff? Connecticut Pushes For Amazon Taxes

    What are the three guarantees in life? Death, taxes, and people saying that “death and taxes” are the only two guarantees in life. It’s fun. But this Amazon situation? Who knows. The company has been fighting off having to collect and pay local taxes across the U.S. for years now, with Connecticut becoming the latest state to push it for the collection of local taxes. One… Read More

  • Would America support a national broadband tax or is that too 'big government'?

    The Cousins were mulling over a broadband tax, but the new Government has put a stop to that. (Now they’re considering using some of the BBC license fee to fund broadband development.) The idea was to charge people 50p (around $0.70) per month to fund the expansion of broadband into rural areas. Would such a move work here in the U.S.? Would you be willing to pay, say, $1 per month… Read More

  • CrunchGear PSA: Tech tax deductions

    I did my taxes recently, and this is the first year that I actually bothered to deduct for all those things that I buy over the year for my job. It was confusing frankly, and I wish I’d read this article before I did it. Hopefully you’ll read this in time to do your deductions correctly, and not make the same mistakes I did (which caused me to miss out on several things I could… Read More

  • Paying the Amazon tax

    Yay, taxes! It looks like more and more states are considering forcing the likes of Amazon and (note: I’ve never bought anything from there!) to pay taxes. This is good and bad: it helps, however little, state governments balance the books, but it also raises the cost of “doing business” in those states. It also makes it more expensive to buy things online. Boo! Read More

  • Let's talk about: the broadband tax in the UK

    They’re trying to balance the books over in the UK, and the Chancellor of the Exchequer has proposed a tax that may interest you. The proposed budget for the next year includes a broadband tax! The name is a bit misleading in that it’s not a tax on broadband, but a tax on telephone landlines (POTS), the money of which will go to making sure people in rural areas have sufficient… Read More

  • Colorado plan would give free cellphones to low income people

    Wow, you can totally tell when Drudge links to a news story. Take this one, which details a Colorado plan to give free cellphones to low income people. Similar programs, using landline telephones, have existed for some time, paid for by a federal tax on telephones. So it’s not like this is new money we’re talking about, you know, being used to help people. But check out these… Read More

  • IRS moves to collect taxes on your work-provided cellphone

    Another potshot aimed at the working man, friends. The IRS is looking to collecting more taxes on your work-provided cellphone, something the wireless industry—think CTIA, Verizon Wireless, Sprint, etc.—will fight tooth and nail. The industry thinks that if companies and/or employees have to pay more for their phones, they may cancel the service altogether. Read More

  • Patriotic Microsoft threatens to move U.S. jobs overseas rather than pay taxes

    Good for Microsoft, kicking the American worker when he’s down. President Obama means to close a loophole in the taxcode that allows corporations to “deduct… cost at a high tax rate and report… profits at a low tax rate.” In other words, win-win for the corporation at the expense of the United State Treasury. You know how Microsoft’s Steve Balmer said… Read More

  • Let's spend our tax rebates on high-tech junk we don't need!

    Once again it’s Tax Day here in the United States of America. (Unless, of course, you’re with the Anti-Tax Tea Party brigade. Have fun you guys, and don’t do what the French are doing in this picture. Violence only begets violence!) This is the part where we ask you if you intend to spend your tax rebate, provided you get one, on any “cool” tech. A monitor? A… Read More

  • Let's have a tea party: Taxes make up one-third of New Yorkers' cellphone bill

    Tea party! Yes, in the spirit of all those completely artificial tea parties that have been annoying Tweeple from Maine to Hawaii, the New York Post wants to let its readership know that New York State has the fourth highest cellphone taxes in the country. Fourth! That’s almost high enough to give a damn. Read More