As part of the Credit Card Accountability Responsibility and Disclosure Act of 2009, Congress took aim at many of the practices surrounding gift cards purchased by consumers. If your business issues gift certificates or gift cards, you will want to be familiar with the rules which took effect August 22, 2010.
In this short video, I explain the major provisions of the new gift card rules.
To read the final rule, as issued by the Federal Reserve, click here (opens as .pdf.)
Chad is a Charlotte CPA who works with small business owners and invidiuals on a monthly basis to provide them with proactive guidance and advice on how to grow their business, minimize their tax liabilities and grow their bottom line. You can find our more about Chad by visiting his profile here: Chad BordeauxQuickbooks(R) shortcut keys can save you valuable time when processing your day to day accounting task. In this short video, Chad explains three shortcuts that small business owners need to know when working in Quickbooks(R).
What are your favorite Quickbooks(R) shortcuts?
Chad is a Charlotte CPA who works with small business owners and invidiuals on a monthly basis to provide them with proactive guidance and advice on how to grow their business, minimize their tax liabilities and grow their bottom line. You can find our more about Chad by visiting his profile here: Chad BordeauxThis upcoming weekend (Friday, August 6th through Sunday, August 8th) will be the annual “back-to-school” sales tax holiday for both North Carolina and South Carolina.
North Carolina Sales Tax Holiday
Qualified items generally include clothing, footwear or school supplies that are individually priced at $100 or less, some instructional materials priced at $300 or less, sports equipment that is priced at $50 or less, computers prices at $3,500 or less, and some computer equipment priced at $250. It does not apply to clothing accessories, jewelry, cosmetics, protective equipment, furniture or any item purchased for use in a business. It also does not apply to computer equipment, such as monitors, unless they are purchased in a bundle with a computer system. For a detailed list of items that are exempt during the North Carolina Sales Tax Holiday, click here (opens as .pdf). For a list of frequently asked questions about the NC Sales Tax Holiday, click here (opens as .pdf).
South Carolina Sales Tax Holiday
Qualified items include certain clothing, footwear, school supplies, computers and computer software., bath wash clothes, blankets, bed spreads, bed linens, sheet sets, comforter sets, bath towels, shower curtains, bath rugs and mats, pillows, and pillow cases. It does not apply to items such as jewelry, cosmetics, eyewear, wallets, watches, furniture, rental of clothing. It also does not apply to any items for use in a business. A detailed list of items can be found here, on the South Carolina Department of Revenue’s website (opens as .pdf), For a more detail questions and answers on the South Carolina Sales Tax Holiday, go here (opens as .pdf).
Other States
Sales Tax Holiday Information for Other States.
Chad is a Charlotte CPA who works with small business owners and invidiuals on a monthly basis to provide them with proactive guidance and advice on how to grow their business, minimize their tax liabilities and grow their bottom line. You can find our more about Chad by visiting his profile here: Chad Bordeaux
