TaxConnex

MARCH 26, 2024

We are at the end of Q1 of 2024 and continue to discuss how to ensure your business is set up to get sales tax right in 2024. If you’re like the over 49% of businesses who participated in our annual sales tax trends survey and are unsatisfied with the way you are managing sales tax, then you’re in the right place.

Sales 159

Sales Tax tax return Retail 159

TaxConnex

NOVEMBER 28, 2023

does not free you from the complexities of sales tax. In many countries, you will run into some kind of sales tax – familiar if you’re used to selling in the U.S., The provinces that levy a PST in addition to the GST are British Columbia, Manitoba, Quebec (the Quebec sales tax is the “QST”) and Saskatchewan. but different, too.

Sales 209

Sales Tax Transportation Maine 209

TaxConnex

SEPTEMBER 26, 2023

(We generally recommend that companies start watching their nexus requirements when they hit the $100,000 in sales in a state. Companies also must always consider how physical presence , such as offices or even just sales reps, can create nexus.) They also take the burden of sales tax obligation off the seller. Taxability.

Sales 202

Sales Tax South Dakota Colorado 202

TaxConnex

DECEMBER 21, 2023

It’s the end of the year and as we all start to think about our New Year’s resolutions, it’s also a good time to start thinking about correcting any sales tax missteps your business may be facing. If you believe you have sales tax exposure, contact us to learn how we can help. The states’ response to the VDA application will vary.

Sales 220

Sales Tax audit tax accountant 220

TaxConnex

MAY 24, 2022

Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. Assessing your footprint.

South Dakota 186

South Dakota Sales Tax Retail 186

TaxConnex

NOVEMBER 30, 2023

Blog authored by Scott Schwertner, National Director of Sales and Use Tax for Invoke Tax Partners. With extensive experience in both the industry and sales tax consulting side, Invoke Tax Partners National Director of Sales and Use Tax, Scott Schwertner, knows how difficult it can be for businesses to get sales tax right on every transaction.

Sales 174

Sales Tax accounts payable tax consultant 174

TaxConnex

NOVEMBER 14, 2023

A job as intimidating as setting up a system to handle your sales tax obligations can be a lot easier if you have an idea how long it will take. As with most aspects of sales tax, there are no fixed answers, but we can give you an idea. Part of your decision in this case rests with how long you’ve had sales tax exposure.

Sales 188

Sales Tax Connecticut Colorado 188

Accounting Today

OCTOBER 19, 2023

As more accountants retire or move to other fields, their valuable insights into sales tax management are lost.

Sales 94

Sales Tax Account accountant 94

Patriot Software

SEPTEMBER 20, 2022

When you sell goods to customers, you likely collect and remit sales tax to the government. And when you purchase products, you typically pay sales tax. But, how do you record these tax collections and payments in your accounting books? Sales tax accounting.

accounting basics 92

accounting basics tax accountant Sales Tax 92

Summit CPA

MARCH 5, 2024

I love sales. It was one of my first jobs before I went into accounting, and it was the hat that was hardest to give up when I grew my business. A curiosity-first approach to sales is a win-win. Here’s how to adopt this sales mindset – for you and your team. But so many business owners hate it.

Sales 97

Sales Education Account accountant 97

TaxConnex

AUGUST 10, 2023

Sales and use taxes have their deadlines, too – a dizzying number to follow, potentially with bad consequences if you miss even one. A lot of complications Currently, sales tax across the U.S. Some states have a flat sales tax rate that applies throughout the state, resulting in a simple sales tax return.

Sales 130

Sales Tax tax return payroll 130

TaxConnex

NOVEMBER 21, 2023

In the world of accounting and tax, CPAs, accounting firms, and advisory firms play a vital role in helping individuals and businesses manage their finances and stay within the rules. But one tricky area that often causes headaches is sales and use tax. Adding new employees, locations, or warehouses. Change of staff.

cpas 147

cpas Sales Tax audit 147

xendoo

MARCH 4, 2022

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? No matter if you sell products online through Amazon, Shopify, BigCommerce, Walmart, or Etsy, you’ll need an accounting system to manage finances. Financial reporting.

Sales 105

Sales bookkeeping Account accountant 105

Inform Accounting

NOVEMBER 23, 2023

Designed with bookkeepers, accountants, and businesses in mind, Dext Commerce's accounting automation software is a game-changer, providing the necessary data, insights, and tools for companies to thrive in the digital sales arena.

Sales 52

Sales Account accountant accounted 52

TaxConnex

OCTOBER 12, 2023

Enter past-due sales tax, a sometimes-overlooked and haunting liability that might not get the attention of, say, overdue income or property tax, until it’s too late. Yes, at first glance sales tax risk might be considered just a marginal risk. Sales tax should get extra attention if the two companies are in different industries.

Sales 113

Sales Tax audit tax return 113

TaxConnex

AUGUST 18, 2022

A lot of times regarding sales tax, the answer to any question is, “It depends.” Covid created unique conditions for companies that must collect and remit sales tax, including many temporary breaks regarding worker locations. Pennsylvania , for one, now makes it crystal clear that telework once again creates sales tax nexus.

Sales 191

Sales Tax New Hampshire income tax 191

TaxConnex

NOVEMBER 5, 2020

If your business has an obligation to collect and remit sales tax, then you know how complex the process can be. Automating part or all of the sales tax process is sometimes necessary to maintain compliance. However, in my experience, sales tax automation can be counterproductive in certain situations. What is the correct rate?

Technology 223

Technology Sales Tax tax return 223

TaxConnex

DECEMBER 20, 2022

million businesses have made over $200 billion in sales with the Ottawa, Ontario-based company’s websites. What about sales tax? Shopify is not required to collect and remit sales tax for its sellers, as it is not a marketplace facilitator like Amazon, eBay, or Etsy. Shopify uses many default sales tax rates, updated regularly.

Sales 130

Sales Tax E-commerce tax accountant 130

TaxConnex

JUNE 7, 2022

They’re platforms where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). The dam breaks.

South Dakota 180

South Dakota Sales Tax Start-ups 180

CPA Practice

APRIL 23, 2024

Bloomberg News (via TNS) Sales of previously-owned homes in the U.S. Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves,” NAR Chief Economist Lawrence Yun said in a statement. The inventory of previously-owned homes for sale increased 14.4% By Michael Sasso.

Sales 52

Sales Construction accounting and finance Finance 52

TaxConnex

JULY 26, 2022

Partnerships, just like your sales tax obligations, evolve over time. Sales tax is not a set it and forget it task, so if you’ve handed things off and aren’t sure how things are going, it may be time for a check-up with your provider. No Accountability. Who is accountable to you for resolving issues?? Notice Activity.

Sales 192

Sales Tax tax return Technology 192

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries. Food for thought.

Sales 193

Sales Tax Colorado Massachusetts 193

TaxConnex

NOVEMBER 3, 2020

There’s always something changing or new going on in the world of tax, especially sales tax. In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov. Sales tax accounted for the largest decline, falling $918 million, or 23 percent.

Sales 224

Sales Tax Wisconsin Vermont 224

TaxConnex

AUGUST 11, 2022

A few recent developments – including scams and fine definitions –across the country show how sales tax compliance can be complicated. New York: An appeals court ruled last month against a company that claimed eligibility for sales tax refunds on several purchases of concrete. Ecommerce and sales tax cybercrime is on the rise.

Sales 130

Sales Tax North Carolina Pennsylvania 130

TaxConnex

DECEMBER 29, 2022

New sources of tax revenue, old ones robust but sputtering in spots, tax holidays as political tools amid inflation: It’s been a year of new trends in sales tax. Almost three out of four respondents reported that online sales as a percentage of revenue had increased since 2019 – no doubt fueled by pandemic eCommerce. Add that U.S.

Sales 130

Sales Tax Maryland Louisiana 130

TaxConnex

MAY 16, 2023

As you are likely aware, managing your sales and use tax obligations is not a small task. For many companies, investing in the legal, tax, and accounting expertise of outside consulting experts with a proven track record is a good option for sales and use tax compliance.

Sales 130

Sales Tax cpa firm CPA 130

TaxConnex

MAY 4, 2023

Many tech companies consider themselves service providers, exempt from sales and use tax. In these cases, IP addresses have been used for sales tax in certain situations because it can be mapped to a physical address. Will all social media networks now be required to obtain full addresses of their account holders?”

Sales 130

Sales Tax Maryland Oregon 130

TaxConnex

JUNE 13, 2023

Sales tax compliance involves a highly complex set of rules and regulations. These rules change frequently in many jurisdictions, and the question of whether (and how) your company needs to collect and remit sales tax to a certain jurisdiction can be quite difficult to determine. Why is it not enough? A main one being time.

Sales 130

Sales Tax Maine Account 130

TaxConnex

OCTOBER 19, 2021

You may think your business is in full compliance with your sales tax obligations nationwide – and you may well be – but America’s 10,000-plus sales tax jurisdictions love to send notices. These days, notices may arrive in snail mail, show up in your email inbox, or simply be posted to your account on the jurisdiction’s website.

Sales 210

Sales Tax tax return Account 210

TaxConnex

FEBRUARY 16, 2023

Think you’re the only one worried about sales tax compliance? According to our third annual Sales Tax Market Survey you’re not. Our company is highly acquisitive and this results in lack of consistency when it comes to billing, accounting and reporting,” said one survey respondent. Added a third respondent: “We need help now.”

Sales 130

Sales Tax Alaska Missouri 130

TaxConnex

MARCH 1, 2023

Sales tax compliance is riddled with risk. There are thousands of taxing jurisdictions – each seemingly with unique sales tax rates and interpretation of what’s taxable and not taxable.  This is a lot to add to an already over-burdened accounting team but by outsourcing the sales and use tax function you can save time and risk.

Sales 130

Sales Tax audit tax return 130

PANALITIX

SEPTEMBER 30, 2020

Building a Sales Culture. IN Accounting Businesses. Panalitix CEO Mark Ferris recently presented a webinar on Building a Sales Culture in accounting businesses. From a Stockholm-based firm: What about accountants without a “selling personality”… How do we help them sell and enjoy sales? .

Sales 100

Sales Account accountant accounted 100

TaxConnex

APRIL 13, 2023

Our third annual survey of financial professionals across accounting, manufacturing, construction, software and technology, retail/eCommerce, telecom and others showed that many industries face sales tax challenges and that financial leaders continue to lean on internal resources to get the job done. What’s keeping them up at night?

Sales 130

Sales Tax tax return audit 130

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Wholesale sales or sales of exempt goods are not subject to the fee. its Sales Tax Bulletin No.

Sales 178

Sales Tax Oklahoma Illinois 178

TaxConnex

AUGUST 24, 2021

In the world of sales tax, they’re major marketplace facilitators. A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Amazon, eBay and Etsy are more than household names.

Sales 213

Sales South Dakota Tax South Carolina 213