ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

Tax 110

Tax tax return Technology income tax 110

Xero

AUGUST 21, 2023

Our events focused on product updates that are either currently in play, or coming down the pike at rapid speed (accelerating, if you will). The limited preview of US auto sales tax Xero’s sales tax capabilities, powered by Avalara, will help you stay on top of what is a cumbersome sales tax process.

bookkeeping 75

bookkeeping Non-Profits Technology Tax 75

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

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audit Sales Tax auditor 105

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are the tax credits available for electric vehicles? How does the electric vehicle tax credit work? For accountants, understanding these tax credits is essential in ensuring clients make the most of their investment in clean vehicles. What are the tax credits available for electric vehicles?

Tax 52

Tax Colorado accounting and finance tax return 52

Snyder

OCTOBER 31, 2022

How to add a blog to your Shopify store? Which Shopify payment providers to use? How to add tax on Shopify? You might want to consult online consumer trend publications, use product trend discovery sites, do social listening, etc. Use the Shopify store name and create your Shopify domain — this will be your store.

E-commerce 97

E-commerce Start-ups Tax Sales 97

Xero

NOVEMBER 30, 2022

If you haven’t made the switch to new reports, we urge you to start moving your work across now , so you have plenty of time to get used to them before the older versions are retired. Hubdoc will use machine learning to identify when a document may be a credit note and flag it to you for review. Get ready to switch to new reports.

payroll 81

payroll Tax tax return bookkeeping 81

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is indirect tax? Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax.

Tax 52

Tax income tax Manufacturing corporation tax 52

Xero

AUGUST 25, 2022

Expanding Xero Small Business Insights to the United States and Canada. The first major announcement we made in New Orleans was our expansion of the Xero Small Business Insights program to the United States and Canada. Read more about these announcements in Anna’s blog post. Building a community-powered platform.

bookkeeping 70

bookkeeping Entertainment Maine Sales 70

Xero

AUGUST 24, 2022

It was the perfect location to reconnect with our valued accounting and bookkeeping partners, and share some exciting plans for new tools and features designed to make inventory management, bank reconciliation and tax management simpler and more seamless. Helping you navigate sales tax in the US.

bookkeeping 75

bookkeeping Louisiana Technology Tax 75

Ronika Khanna CPA,CA

SEPTEMBER 1, 2023

A small smattering of the ways in which excel can help small business owners includes: Accounting spreadsheets: Many small business owners, self employed workers, freelancers etc who don’t have many transactions, are unincorporated and don’t require extensive reporting can simply use a spreadsheet to do their accounting. Or sales rep.

accounting software 65

accounting software accounting and finance tax return Start-ups 65

ThomsonReuters

JANUARY 30, 2023

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. This came as no surprise to Tim Storey, CEO of the National Conference of State Legislators (NCSL). State legislators are responding to the call. Minimum wage increases.

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payroll Hawaii West Virginia Oklahoma 105

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. if the employer qualifies for the full FUTA tax credit) on a certain amount of employee wages each year.

payroll 59

payroll Tax income tax payroll tax 59

ThomsonReuters

MARCH 22, 2021

Keeping Up with Taxes. The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. So, why the brief history lesson on American Colony taxes? For payroll, in particular, there are a number of taxes.

payroll 52

payroll Tax Arkansas Texas 52

ThomsonReuters

DECEMBER 14, 2022

Though an automated tax engine will ultimately improve a company’s overall operations, a successful implementation process does place certain demands on a company’s personnel, some of which can be challenging if not addressed properly. How to integrate with other technologies. Choice of software is imperative, however.

Tax 59

Tax Technology accounting and finance accounts payable 59

ThomsonReuters

OCTOBER 12, 2023

Tax implications for owning property abroad What is FATCA? Helping clients with foreign income tax forms For U.S. To support this effort, forward-thinking accounting firms are increasingly using tax preparation software and scan-and-populate solutions to tackle the challenges of foreign income reporting. What is FEIE?

Tax 40

Tax tax return income tax Real Estate 40

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. per hour. . Maryland. New Mexico.

payroll 72

payroll Virginia Utah West Virginia 72

Snyder

JUNE 20, 2022

It shows the most accurate picture of the current state of a business and its future. Get to know small business tax obligations and procedures. This information is used in accounting, the main priority of which is to analyze the financial health of your business. Accounting is the language of numbers.

accounting basics 52

accounting basics general ledger Account accountant 52

Snyder

NOVEMBER 27, 2022

Shopify is one of the top commerce platforms that support sales made both online and in brick-and-mortar stores. This guide with Shopify tips and tricks includes real and practical ways to enhance your online business which you can use to build a successful business. Optimize your Shopify site for mobile use.

E-commerce 98

E-commerce Non-Profits Technology Sales 98

ThomsonReuters

MAY 27, 2022

But for those operating in a complex network of manufacturers, logistics partners, distributors, raw goods suppliers, and sales channels, remaining compliant carries tremendous burden and risk. In addition to CBP’s work on the 21CCF, Senator Bill Cassidy’s draft Customs Modernization Act is a first step towards updating the regulations too.

Technology 93

Technology audit Virginia Manufacturing 93

Snyder

JULY 13, 2022

Read our comprehensive list of steps on how to set up an Etsy business, , find out some useful tips and implement them in your own selling business on Etsy. If someone has already created a shop with the name you wanted to use, the platform kindly suggests other variants that can be even better for your Etsy business. Contents: 1.

Start-ups 98

Start-ups E-commerce Maine accounting books 98

Snyder

MAY 10, 2022

In this way, using accounts payable is advantageous to your business for several reasons, including: It reduces paper use. Using automated features and checkers on your accounts payable speeds up the process and limits the margin for error from your finance team. It minimizes errors. Managing your accounts payable.

accounts payable 52

accounts payable Account accountant accounted 52

Snyder

SEPTEMBER 22, 2022

Among a variety of e-commerce platforms there are doubtless leaders like Amazon, eBay, Shopify, Etsy, Walmart, that have huge outreach, lots of useful tools and great reputation with customers. e-commerce market, with global net sales of US$ 131 bn in 2021. Being one of the world’s most valuable brands (US$ 705.65

E-commerce 52

E-commerce Manufacturing Start-ups Retail 52

ThomsonReuters

OCTOBER 19, 2023

This presents a unique opportunity for accounting firms and tax accounting professionals to enhance their revenue streams by diversifying their service offerings. Sole-proprietorships that don’t use a single-member LLC are not considered a reporting company. Who does the Corporate Transparency Act affect?

Non-Profits 111

Non-Profits Tax accounting firms Account 111

ThomsonReuters

JUNE 15, 2022

In the middle of a busy legislative season, several states have made important changes in their tax code that practitioners across the nation will want to be aware of in order to service clients who may have multistate needs. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. Florida Sales Tax Holiday.

Rhode Island 105

Rhode Island Delaware Oklahoma Tax 105

ThomsonReuters

DECEMBER 13, 2021

Indirect tax professionals play a critical role in the success of a business. As the pace of new tax compliance challenges accelerates , tax teams need constant access to accurate data that keeps up with changing sales tax reporting rules and complies with ever-evolving regulations.

Tax 52

Tax Sales Technology South Dakota 52

ThomsonReuters

MARCH 19, 2024

What if a sales tax audit needs to be appealed? What happens after the audit, win or lose Sales tax audits may be an unfortunate fact of corporate life, but not all audits are the same. There are generally two issues that drive a sales tax audit assessment , ” Bobby says. Neither decision is simple.

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audit Sales Tax auditor 52

ThomsonReuters

JUNE 14, 2021

Department of Labor (DOL) issued Unemployment Insurance Program Letter (UIPL) 20-04 to state workforce agencies regarding the localization of work provisions. The UIPL discusses the principles for determining where wages should be reported when work is performed entirely in one state or in a number of different states.

payroll 98

payroll Missouri Virginia Delaware 98

ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Beginning in tax year 2020, the IRS issued a new Form 1099-NEC for business taxpayers who receive nonemployee.

payroll 98

payroll income tax Vermont tax return 98

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What is a reverse sales tax audit? What is a reverse sales tax audit? Correction of taxes overcharged to customers is handled a bit differently. In those cases, the overtaxed amount must be returned to the customer before the tax authority will issue a refund. Why would a company overpay taxes?

audit 52

audit Sales Tax Manufacturing 52

ThomsonReuters

DECEMBER 11, 2023

In the first two installments of our blog series on e-invoicing and Continuous Transaction Controls (CTC), we discussed the basics of e-invoicing and how it affects tax teams and compliance efforts. The purpose of this series is to help readers gain a better understanding of e-invoicing and CTC, and their impact on corporate tax teams.

B2C 59

B2C B2B Start-ups Tax 59

ThomsonReuters

JUNE 28, 2021

A reason why these statistics have been on a continuing decline may be in part because a number of states and localities have enacted their own minimum wage laws. Then, minimum wage rate adjustments for the state or locality are based on the Consumer Price Index (CPI) or other cost of living adjustments. Minneapolis, Minnesota: $14.25

payroll 52

payroll income tax California North Dakota 52

ThomsonReuters

OCTOBER 6, 2021

State income tax is a direct tax on business income you’ve earned in a state. It sounds straightforward, but this is a complex topic: States have various ways of calculating how much of your corporation’s business income is attributable to its presence and activity there. What is apportionment in taxes?

income tax 52

income tax Tax payroll Massachusetts 52

ThomsonReuters

JULY 29, 2021

Throughout much of the United States, summer is hot and humid, which can make outdoor activities challenging and dangerous. For those of us lucky enough to work indoors (either in an office or remotely from home) with central air conditioning, the workday is tolerable and even pleasant. State and Local News.

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payroll New Jersey Idaho Wisconsin 52