TaxConnex
OCTOBER 5, 2023
Wayfair opened the way for all states with a statewide sales tax to now have economic nexus thresholds set by dollar amount or volume of sales. One wrinkle to this management is that notices arrive in varied ways: by mail or email, for instance, or are posted to your account on the jurisdiction’s website. When was the return made?
TaxConnex
SEPTEMBER 26, 2023
These thresholds vary state to state and change often, with Missouri being one of the latest to enact economic nexus. Even though the marketplace is collecting and remitting the tax on their platform, these sales need to be accounted for to determine whether you’ve reached economic nexus thresholds.
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TaxConnex
JANUARY 26, 2023
There’s always something changing in the world of tax, especially sales tax. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. Crystal ball time.
CPA Practice
FEBRUARY 12, 2024
By Katelyn Washington, Kiplinger Consumer News Service (TNS) A proposal to end federal tax on Social Security retirement benefits would provide relief for retirees as early as next year. That’s because, as the bill is worded, federal taxes on Social Security income would be eliminated beginning in 2025 (tax returns filed in early 2026).
TaxConnex
MARCH 2, 2021
In one of the biggest developments, the two remaining states with a sales tax that don’t require online (or otherwise remote) businesses to collect and remit tax – Florida and Missouri – may be inching toward instituting post- Wayfair nexus requirements and sales tax obligations. Texas sales tax collections totaled $3.07
Going Concern
AUGUST 28, 2023
Accounting firms across the pond are ditching Zoom interviews, writes Sunday Times : Zoom calls became the norm for business meetings during the pandemic — but accountancy firms, among the biggest graduate recruiters, are going back to face-to-face interviews when hiring, saying it is easier to assess candidates’ characters.
TaxConnex
MARCH 24, 2022
implementing sales and use tax collection requirements for marketplace sellers and facilitators who don’t have a physical presence in the state. Missouri, whose economic laws have been approved but not yet put into effect, also has no marketplace facilitator laws until January 1, 2023. returns for direct sales and indirect sales.
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