TaxConnex

OCTOBER 27, 2022

States are like that, too: sometimes candy is considered food (groceries) for sales tax purposes, sometimes it’s not and sometimes it’s somewhere in between. In many states, for instance, liquor-filled candy – which admittedly few are going to give to kids on Halloween – can be taxed differently than regular candy. Not merely because’.

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Sales West Virginia South Dakota Tax 130

TaxConnex

OCTOBER 5, 2021

Soon after you start dealing with states’ sales tax, you’re going to also run into another term: excise tax. What is excise tax? And is it different from sales tax? A different kind of tax pie. Federal, state, and local governments can all impose excise taxes. Calculating and Charging.

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Sales Tax South Carolina Hawaii 177

CPA Practice

FEBRUARY 9, 2024

However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. Super Bowl 2024 is on Sunday, Feb. Usually, the payer (e.g.,

Gambling 122

Gambling Tax Sports South Carolina 122

TaxConnex

MARCH 22, 2022

Collecting and remitting sales tax to states and other tax jurisdictions is time consuming and can be expensive. Somebody can: the states and tax jurisdictions themselves. collection discount to help with the costs of managing sales tax.?If Slightly more than half the states offer various discounts for sales tax filers.

Sales 194

Sales Utah Tax South Carolina 194

CPA Practice

JANUARY 5, 2024

A Nevada accountant was sentenced Wednesday to 13 months in prison for his role in separate bribery and tax fraud conspiracies. Lewis’ conduct caused a tax loss to the IRS of more than $1.5 Gordon for the District of Nevada ordered Lewis to serve three years of supervised release and to pay approximately $704,002 in restitution.

CPA 52

CPA Nevada Tax tax return 52

TaxConnex

JANUARY 11, 2022

It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. Many states say that when the contents of a shipment are taxable, so is the shipping cost; similarly, when items in a shipment are exempt from sales tax, so is the cost of shipping.

Sales 180

Sales Rhode Island Tax South Dakota 180

CPA Practice

APRIL 22, 2024

The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes. In Alabama, the analysis showed you will bring home just under 69% of your salary, after taxes. That means you’d need to earn $145,515 a year to bring home $100,000.

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South Dakota Alabama New Hampshire Wyoming 116

CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Social Security Tax : Employers and employees each contribute 6.2%

payroll tax 110

payroll tax West Virginia payroll cpas 110

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

Delaware 52

Delaware Nevada Tax Sales 52

TaxConnex

OCTOBER 8, 2020

What’s an IP address and how can it influence your company’s need to collect and remit sales tax to states? When your customers access your website and make purchases, the customer is often providing a billing and/or shipping address which can be used to determine where sales tax applies. Tech on the forefront. Stay tuned.

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Sales Tax Texas Nevada 130

CPA Practice

JUNE 5, 2023

Taylor, Kiplinger Consumer News Service (TNS) NBA finals Game 2 is in the books, and many people who tuned in to see the Miami Heat tie the series with the Denver Nuggets are probably not wondering what a jock tax is. But the NBA Finals—and other sporting events—are connected to taxes in a big way. What is the jock tax?

income tax 118

income tax Tax Sports Nevada 118

MyIRSRelief

MAY 24, 2023

The notice will state the amount of tax due, as well as interest and penalties. The notice will also include the following information: The amount of tax due The amount of interest and penalties The due date for payment Instructions on how to pay What do I need to do if I receive an IRS CP14 notice? What is an IRS CP14 notice?

North Carolina 147

North Carolina Oklahoma Ohio Tax 147

TaxConnex

FEBRUARY 8, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax revenues and their local portions are reported up from Auburn, N.Y., Many other states are finding more late-2021 sales tax revenue to funnel toward local governments. billion in sales taxes for December, $101.9

Sales 173

Sales Tennessee Tax Massachusetts 173

CPA Practice

AUGUST 9, 2023

Military retirees residing in California potentially pay more taxes on their military retirement pay than they would in other states. state that fully taxes military pensions. ( But proposed legislation would exempt military retirement income from California state income tax — at least for the next ten years.

California 98

California Tax income tax Nevada 98

Going Concern

JANUARY 10, 2024

Today in clients behaving badly, the DoJ announced Friday that Las Vegas restaurateur Raul Gil, who owns and operates three Casa Don Juan restaurants in the city, is headed to prison for 37 months for evading his federal income taxes. In total, Gil caused a tax loss to the IRS of approximately $1.6 District Judge Andrew P.

tax return 62

tax return Tax Nevada income tax 62

MyIRSRelief

MAY 24, 2023

The notice will state the amount of tax due, as well as interest and penalties. The notice will also include the following information: The amount of tax due The amount of interest and penalties The due date for payment Instructions on how to pay What do I need to do if I receive an IRS CP14 notice? What is an IRS CP14 notice?

North Carolina 130

North Carolina Oklahoma Ohio Tax 130

TaxConnex

MARCH 24, 2022

In the world of sales tax, household names like Amazon, eBay and Etsy are major marketplace facilitators. Not only that, the marketplace facilitator in many situations assumes the responsibility for collecting and remitting the applicable sales tax. But there are, as always in the world of sales tax, conditions.

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South Dakota Nevada Missouri Minnesota 173

CPA Practice

JULY 12, 2023

Inevitably, your clients with growing businesses will want to hire, so you’ll be better able to help them if you have a clear understanding of the differences between SUI (state unemployment insurance) and SIT (state income tax) and how they affect your clients’ businesses. What is SUI Tax? The federal tax rate is a flat 6%.

income tax 98

income tax Tax South Dakota Alaska 98

inDinero Tax Tips

MARCH 2, 2023

Cryptocurrency tax rules can be complicated and confusing, but you definitely need to report your crypto gains. Here’s a look at what happens if you don’t report cryptocurrency on taxes — along with answers to common crypto tax questions. What Happens if You Don’t Report Cryptocurrency on Taxes?

Tax 98

Tax income tax South Dakota tax return 98

CPA Practice

OCTOBER 17, 2023

Thirteen states have agreed to participate in a trial run of the IRS’s free online return filing system, called Direct File, during the 2024 tax season, the agency said on Tuesday. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

tax return 116

tax return Tax South Dakota tax preparation 116

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

payroll tax 98

payroll tax payroll Rhode Island Tax 98

CPA Practice

JUNE 15, 2023

The Tax Blotter is a round-up of recent tax news. Based on the Forms W2-G issued to him, the IRS determined that he had $241,000 in winnings and the Tax Court agreed. Latest example: A couple residing in Nevada, including one spouse who is an accountant, were frequent gamblers. Report all your winnings.

Gambling 52

Gambling Tax Nevada audit 52

CPA Practice

APRIL 19, 2024

But running a marketplace also brings unique tax and compliance challenges. Our 2024 Avalara Tax Changes report explores new and changing requirements for marketplace facilitators and sellers across a variety of industries. They all face different tax compliance obligations and challenges. Read the report now.

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Tax Wyoming Alaska Louisiana 59

CPA Practice

JANUARY 17, 2023

Massachusetts: The Massachusetts Society of CPAs (MASSCPAs) wants members to prioritize their health this tax season. Tennessee: The Tennessee Society of CPAs (TSCPA) recently released its Updated Fiscal Year 2021 Tennessee Tax Credit Report which provides a detailed list of all credits claimed for tax periods July 1, 2020 to June 30, 2021.

CPA 124

CPA Pennsylvania Tennessee Nevada 124

LyfeAccounting

JUNE 25, 2021

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? But wait a minute… how are states funding things without state taxes?

income tax 52

income tax South Dakota Tax Alaska 52

CPA Practice

DECEMBER 15, 2023

The Rare Earth Magnet Production Tax Credit Act, introduced alongside Sen. would provide a $20 per kilogram production tax credit for rare earth magnets made in the United States. Catherine Cortez Masto, D-Nev., reintroduced a bill Thursday aiming to build a domestic supply chain for rare earth magnets. Markwayne Mullin, R-Okla.,

Tax 59

Tax Nevada Manufacturing Texas 59

Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

payroll tax 52

payroll tax payroll South Dakota Rhode Island 52

Withum

FEBRUARY 14, 2024

It is important to review both the logistical considerations of getting goods in and out of a particular state and the plusses and minuses of the state tax and business regulatory environment. It also has a variety of locally imposed tax that can increase costs depending on where the warehouse is located.

E-commerce 59

E-commerce Real Estate Nevada income tax 59

Withum

AUGUST 24, 2023

The choice of where to establish one’s residency prior to a liquidity event can have far-reaching implications regarding income taxes and personal financial goals. Make sure you are considering the type of income when implementing state income tax planning techniques. These states allow for easier and faster tax calculations.

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income tax tax planning South Dakota Wyoming 52

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

Accounting Today

FEBRUARY 26, 2024

The IRS is particularly interested in applications covering Hawaii, Kansas, Nevada, North Dakota, South Dakota, West Virginia and Puerto Rico.

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West Virginia South Dakota North Dakota Hawaii 75

Going Concern

NOVEMBER 8, 2023

“I know at [University of Nevada, Reno] they have an online master’s program and it’s only got 47 people in it; they want to add people to it,” Bailey said. ” That’s something, he says, newer generations of workers aren’t going to do. Even college enrollment in the field is down.

accountant salary 126

accountant salary audit Nevada public accounting 126

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

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South Carolina Hawaii West Virginia Delaware 52

Withum

FEBRUARY 5, 2021

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Nevada 52

Nevada Tax 52

TaxConnex

JUNE 17, 2021

Legalization of cannabis and how it would be taxed has been a discussion for many years. billion in tax revenue from legal, adult-use marijuana sales, according to one pro-legalization group. Among the first states to legalize marijuana some seven years ago, Washington collected $614 million in marijuana tax revenue last year.

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