Cannabis may be legal in California, but in the eyes of the federal government, a business selling it is just “a giant drug trafficker.” At least that’s what U.S. Tax Court Judge Mark Holmes of Washington, D.C., said in the case of Oakland’s Harborside, one of the country’s oldest and largest dispensaries, as the company tries to figure out how much it should pay in taxes. Nearly two years after legalization in California, cannabis businesses still face costly hurdles because of federal law that criminalizes marijuana possession, use and cultivation. Companies can’t deduct all their business expenses on tax returns, and some can’t use mainstream banks, resorting instead to credit unions or even armored trucks full of cash. Industry reports project the state’s legal cannabis market will grow 19% annually over the next five years. But as state taxes rise and federal barriers remain, experts say higher prices for legal pot could drive buyers … [Read more...] about California pot dispensary fights IRS tax case as costs mount for industry
Why is commission taxed higher
Dear Rusty: I am 67 and still working full time but plan to retire after June of next year. Because of my income I have not been drawing my Social Security benefits; however, my income will not be a tax issue in 2020 with my planned retirement. If I begin drawing my SS when I’m 68 next June, can I draw it retroactively to the first of the year at that rate? Or, beginning Jan. 1, 2020, can I draw on my deceased wife's SS and then switch to my higher rate upon my birthdate in June? Signed: Exploring My Options Dear Exploring: Since you are eligible for both a survivor benefit from your wife and your own SS retirement benefit you have a choice of which one to choose and when to claim. You can choose the survivor benefit first and continue to delay your own SS benefit, thus allowing your own benefit to continue to earn delayed retirement credits. You can delay until you are 70 years old or, depending upon your financial needs, you can claim your own benefit at any time, including … [Read more...] about RUSSELL GLOOR: Ask Rusty – About survivor benefits, my own benefits and taxes
The European Union and the United States should "sit down and find a negotiated solution" instead of imposing tariffs on each other, the outgoing European Commissioner for Trade, Cecilia Malmstrom, told Euronews. In an exclusive interview with Euronews' Global Conversation programme, Malmstrom also discussed the bloc's position on China and how trade deals can help in the fight against climate change and populism. 'Damaging for them and for us' On EU-US trade relations, Malmstrom said it "would be natural" for an agreement to bound the two parties and that reaching one to "mutual benefit" is "still doable." Trade relations between the bloc and the US have been tense since President Donald Trump stalled negotiations on the Trans-Atlantic Trade and Investment Partnership (TTIP) and imposed tariffs on European steel and aluminium. Trump has also threatened to slap on tariffs on European vehicle imports and $11 billion (€9.8 billion) worth of European goods over aircraft subsidies. … [Read more...] about EU, US should find ‘negotiated solution’ to trade tensions, says Cecilia Malmstrom
Even now it is impossible to call the election. Sure, the polls look pretty conclusive but the margin between victory and defeat is slender. The last two elections sprung last-minute surprises and when the Tories say they are taking nothing for granted they are telling the truth. The reason for that is simple: the Conservatives may have had a clear message on Brexit that has resonated with leave voters but they also know that much of what Labour has been saying during the election campaign resonates with the voters. Boris Johnson has been battling against an ideological headwind. This is not only a matter of the goodies Labour has been proffering. Who, after all, is not in favour of a four-day week, a third off their rail fare, free broadband and not having to pay for a dental checkup? It is more a sense that something has changed at a deeper, more fundamental level since David Cameron won the 2015 election. All the parties have shifted leftwards on the economy: in part because the … [Read more...] about Economic conditions favour the left, so why is Labour not expected to win with ease?
The best way to build a website for a big business is to do it the old-fashioned way: hire professionals, give them clear instructions, and let them go to work. But for most small and medium-sized businesses, that option is prohibitively expensive. cnet The best website builders for 2019 Whether you’re a small business owner, artist, photographer, writer or consultant, there's a website builder out there for you -- even if you don't know how to code. Read More Fortunately, the do-it-yourself alternative is a viable option, thanks to a variety of template-based website building services that walk you through the process from start to finish, with no coding skills required. And because these services also provide the hosting, e-commerce features, and even domain registration as part of the package, it's quite literally a one-stop shopping process. A DIY website created with one of these point-and-click site-building tools can look every bit as slick as one built and … [Read more...] about How to build a website for any business: Your step-by-step guide