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Sales Tax

Sales taxes are complex and routinely inconsistently applied from state to state and even within the same state.  Many goods and services are subject to sales taxes, but with several exceptions to their application.  When reviewing your products and services which should have sales taxes applied you should consider such things as whether they are:

  • Intrastate or Interstate in nature
  • Will be resold to an end user customer
  • For building repair or new construction
  • Where is the service being delivered
  • Whether the recipient may be an exempt organization

Kiesling Associates has extensive experience in sales tax rules.  If you would like assistance in reviewing your sales tax billings please contact your Kiesling Associates representative.

News & Announcements

Automobile Depreciation Deduction Limits

The IRS has updated its limitations on depreciation deductions for owners of passenger automobiles first placed in service during 2011 and the amounts to be inlcuded in income by lessees of passenger automobiles first leased by the taxpayer during calendar year 2011.

For passenger autos the depreciation limit is $3,060 for the first tax year, $4,900 for the second tax year, $2,950 for the third tax year, and $1,775 for each successive tax year.  Trucks and vans are $3,260 for the first tax year, $5,200 for the second, $3,150 for the third, and $1,875 for each successsive tax year.

 

Valuing employer-provided vehicles in 2011

(1) The maximum value of employer-provided vehicles first made available to employees for personal use in calendar year 2011 for which the vehicle cents-per-mile valuation rule provided under section 1.61-21(e) of the Income Tax Regulations may be applicable is $15,300 for a passenger automobile and $16,200 for a truck or van.  The business standard mileage rate was $.51 from January 1, 2011 through June 30th and $.555 through December 31st.  The $.555 also continues into 2012.

Annual Lease Value Table

Important Dates & Events

Corporate Tax Deadlines
Corporations with a December 31 year end are required to file extended 1120's returns by September 15th.
Personal Tax Payments

4th quarter estimated tax payments are due January 17th, 2012.

 Tax Reminders