It’s Friday, and that means it’s time for another edition of the REM Cycle Review, your weekly roundup of all the tax news that’s fit to print. We’ve got a few tax tidbits that might have slipped under your radar this week. If you’re reading this on your mobile device, our first story will be of special interest to you…
Cell phone users are paying more in sales and use tax than ever before. According to a new study by the Tax Foundation, wireless tax rates have been on a steady increase since 2006—to an average current rate of 19.1%. [www.taxfoundation.org]
This December, you can test your altruism! Because that charitable contribution might not be tax-deductible after all. [Forbes]
Could raising taxes on alcohol save lives and prevent crime? The answer is complicated (it usually is), but sobering. A worthwhile read, especially during the festive season. [Vox]
Accountants are increasingly finding that pot is a proverbial pot of gold. A brand-new, multi-billion-dollar global industry is in desperate need of number-crunchers: marijuana. The pros for accountants: higher fees due to highly specialized knowledge of accounting practices. The cons, well… [Business Insider]
This week we’re watching…
The REM Cycle editorial staff recommends one professional development video and one funny or thought-provoking video each week.
The REM Cycle Review is a weekly compilation of newsworthy articles pertaining to taxation, accounting, and life in general. Got a hot tip? Email us at REMCycle@rem-co.com.