You go to the grocery to purchase an item in Texas. The price at the shelf says $10 but you get to the counter and your total is $10.80. The extra .80 is 8% sales tax. Much like the grocer, you may be required to collect sales tax on the products and services you offer […]
At the top of July, the Trump Organization and CFO faced accusations of tax fraud dating back 15 years. The indictment suggests more than $1.7 Million in off-the-book fringe benefits such as a personal apartment rent, car payments and school tuition were paid to top level executives and not reported as income on executive’s W2s. As a result, the executives illegally avoided paying income taxes and the Trump Organization illegally avoided paying employer taxes. While no convictions have been made, we wanted to highlight the difference between legally and illegally reducing your taxes.