inDinero Tax Tips

MARCH 3, 2021

Whether you file your business’s taxes yourself or you have help, making sure your tax returns are right and on time is a lot easier when you. By outsourcing your business’s accounting and taxes with inDinero , you’re covered on both fronts. Are you still working on your 2019 business taxes? Partnership Tax Deadlines.

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Withum

JANUARY 13, 2022

The COVID-19 pandemic created a vast network of small business relief programs in the form of loans, grants, tax credits and direct payments. Now that these programs are expiring it is time to report all these funds on taxpayer’s 2021 business tax returns. Q8: Will PPP loan forgiveness be taxable on my state income tax return?

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LyfeAccounting

JANUARY 30, 2021

?. Tax season 2021 is here! And if you have been adhering to our suggestions or taken advantage of the tax system in 2020 then you likely know what to expect and excited for this tax year. On the other hand, if you’ve paid very little attention to some of the tax changes or programs then you’ve got a lot to catch up on.

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TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee. Back to court.

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xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

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Withum

APRIL 28, 2022

For the latest news and updates on Nebraska state and local tax. Nebraska Implements Corporate Income Tax Rate Reductions. 873 which reduces Nebraska’s corporate income tax rate over the next five years. The return and payment deadlines are extended to May 17, 2021. of Revenue, 03/19/2021.).

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ThomsonReuters

JUNE 22, 2021

Indirect tax specialists in North America and Europe expect to see more digitized tax filing and real-time remittance requirements in the next two years — and they lack the technology and operational processes to meet these demands. That’s a key finding from the 2021 State of the Corporate Tax Department report from Thomson Reuters.

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Withum

AUGUST 25, 2022

On August 24, 2022, the IRS issued Notice 2022-36 to announce broad-based penalty relief for certain failure to file penalties with respect to tax returns for taxable years 2019 and 2020 as long as they are filed by September 30, 2022. Penalties under §6698(a)(1) & (2) for form 1065 (partnership tax returns). Contact Us.

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Accounting Today

JANUARY 19, 2024

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

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ThomsonReuters

JULY 9, 2021

Nearly half of the corporate tax departments participating in a new survey say they are under-resourced — and the problem is more pronounced among companies in North America than in Europe. The report is based on a survey of 821 tax specialists. Technology and automation lead the strategic response for indirect tax teams.

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Accounting Today

DECEMBER 13, 2023

Italy's finance police had claimed that the company failed to pay taxes on about €3.7 billion of rental revenue and claimed that the company owed about €779 million after an audit of the tax years from 2017 to 2021.

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Menzies

SEPTEMBER 2, 2022

This was due to end in April 2021 and will now come to an end in April 2025. Overall, despite the AIA limit reducing and the removal of super-deduction in April 2023, there are still some generous tax treatments for energy efficient vehicles. Donna Kenyon. View profile.

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ThomsonReuters

AUGUST 30, 2021

Even COVID-19 hasn’t derailed the march of globalization as multinational corporations continue to chase opportunities across borders — which requires their indirect tax teams to keep up with compliance obligations across multiple jurisdictions. How technologically sophisticated is your indirect tax team?

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CPA Practice

FEBRUARY 27, 2024

These processes often include accounting and CFO services, financial planning, transaction services, corporate tax compliance and, increasingly, state and local tax compliance, including sales and use tax reporting. One of its core growth services is sales tax management. Since the Supreme Court’s S.

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Menzies

JANUARY 4, 2024

The historical ability for non-residents to avoid UK tax on property sales and potentially benefit from reduced stamp duty has undergone significant changes. However, in recent times many of the benefits for non-resident investors have been eroded and the ways in which real estate investors can be taxed on their gains has been expanded.

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Wellers Accounting

MARCH 11, 2022

Tom Biggs ACA CTA , highlights the different considerations and strategies that need to be reviewed for effective end of year tax planning.

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ThomsonReuters

DECEMBER 17, 2021

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”.

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? With less than a week left before the federal tax filing deadline, Doug Blattman is in panic mode.

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Withum

MARCH 31, 2021

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ThomsonReuters

MARCH 9, 2023

Tax and Accounting professionals, listen up! Aren’t you tired of spending countless hours pouring through textbooks and internet searches trying to find the latest tax laws? Enter: Thomson Reuters Tax Season Toolkit. Breeze through tax season easily with our comprehensive year-end tax season toolkit.

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Accounting Insight

MARCH 3, 2023

As digital transformation continues to accelerate the evolution of tax and accounting, the players who expedite their embrace of these six tech trends will have an early mover advantage. And governments around the world – 136, to date – have also already agreed to adopt the 15% minimum corporate tax.

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Withum

OCTOBER 18, 2023

These words apply to all sorts of things in life and, of course, when it comes to taxes. With some economic upheaval and various provisions of the Tax Cuts and Jobs Act (“TCJA”) nearing their end, here are a few things to be mindful of as we cruise into the 4th quarter of 2023. “Those who fail to plan, plan to fail.”

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Shay CPA

NOVEMBER 14, 2023

The state of New York offers some serious tax perks for tech startups operating within its borders. Specifically, if you can get certified as a qualified emerging tech company (QETC), you and your investors can claim some meaningful credits to lower your tax liability. in 2021. And that could mean some notable tax savings.

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Accounting Today

SEPTEMBER 20, 2023

The top three states had an average change percentage of 215.76% between 2021 and 2022.

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ThomsonReuters

DECEMBER 13, 2021

For indirect tax teams, the question of whether and when to invest in more tax technology often looms large, depending on the size of the organization and the immediate challenges facing the department. So when is the right time to invest in indirect tax automation ? Get ahead of indirect tax problems.

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CPA Practice

JUNE 26, 2023

First reported by Going Concern on June 19 and confirmed by Bloomberg Tax on June 21, the move gives BDO USA certain advantages that “position our firm for ongoing success as we continue to grow and transform,” it said in a statement to Bloomberg Tax. Ranked only behind the Big Four firms and RSM US, BDO USA had revenue of $2.49

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Withum

MAY 15, 2024

Now that the ink has dried on your corporate tax return, it is time to consider your next important tax filing. In April 2021, the DOL released guidance on cybersecurity best practices , including maintaining security frameworks, reducing cyber risks, and protecting retirement benefits.

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ThomsonReuters

DECEMBER 1, 2021

Corporate indirect tax professionals have been told for years that they can garner more influence and respect within their organizations by transitioning the indirect tax function from a purely compliance-oriented activity to a strategic advisory role. Investment in appropriate tax technologies and training.

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Cherry Bekaert

OCTOBER 9, 2023

Whether you prioritize high returns, low fees, tax benefits, predictable timelines, fund flexibility or other factors, each type of real estate fund has its positive and negative consequences to consider. Tax Advantages – REITs do not have to pay a corporate tax, so there is a higher available payout for investors.

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SkagitCountyTaxServices

AUGUST 26, 2021

One thing you can expect from me come rain or shine is to keep you in the loop on changes to all things tax-related. There are some important changes to small business tax deductions rolling out, and not all deductions apply to all Skagit County businesses. But first, let’s briefly talk 2021 Infrastructure bill.

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Inform Accounting

SEPTEMBER 23, 2022

The Government has set an ambitious target to achieve a trend rate of growth of 2.5%, achieved by tax incentives to encourage investment in the UK. When the new Prime Minister, Liz Truss, ran for office, it was on a promise of boosting economic growth through tax cuts and increased investment in the UK. Corporation Tax.

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CTP

AUGUST 10, 2021

Understanding tax basis is key to maximizing tax deductions, especially for shareholders or partners involved in an S corporation or partnership. Tax basis refers to the amount that a taxpayer has invested in business assets, calculated by taking the purchase price and subtracting any accumulated depreciation.

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Accounting Insight

AUGUST 1, 2022

A 2021 visitor, Heather Palmer, Director at Ascot Bookkeeping Accounting Ltd said “This was my first time visiting Accountex Summit Manchester and I certainly wasn’t disappointed. The education programme is held across four theatres that will host 32 seminars, discussing everything from Making Tax Digital to staff retention and mindset.

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CPA Practice

MARCH 26, 2024

He also claimed his company’s payroll was $1,035,091 in the previous year on an IRS tax form. Lorquet, who ran his bogus business out of a West Kendall residence, acknowledged that he repeated his pandemic loan scheme three more times through that year and in 2021, according to a statement filed with his plea agreement.

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PYMNTS

JULY 31, 2019

Albania has announced it will implement a new online billing system to prevent businesses from circumventing tax payments and to boost revenue in the country, according to a report by Reuters. The minister said that 1,600 hotels on a booking site were not registered with the proper tax authorities.

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CTP

AUGUST 24, 2021

In a previous blog, we discussed tax basis—the amount that a taxpayer has invested in business assets, which determines the gain or loss when the asset is sold. Remember that a taxpayer must have sufficient basis to deduct a business loss on their tax return. Another set of tax rules that can be overlooked is […].

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Withum

MAY 4, 2022

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET.

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