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Sikich Goes Shopping in Cleveland, Acquires Thornhill Financial

CPA Practice

Top 30 accounting firm Sikich has signed an agreement to acquire the operating assets of Thornhill Financial, a Cleveland-based accounting firm that provides tax, audit, and financial advisory services. The deal, which was announced on Nov. 9, is expected to close at the end of this month.

Ohio 52
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Wirex Rolls Out Beta Version Of Crypto Business Account

PYMNTS

Wirex, a cryptocurrency and fiat (real money) payments platform, is releasing a beta version of a regulated crypto-oriented business account, according to reports. The account will support both crypto and fiat payments, and users will be able to transfer funds using over the counter rates or using blockchain, SEPA or Swift.

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Answers to Retail Business Questions About Sales Taxes

CPA Practice

For example: Ohio requires Ohio vendors to source internet, mail order, or phone sales to Ohio consumers to the location where the order was received, if known. Texas requires businesses to collect local sales tax based on “the location where the sale or use is ‘consummated,’” which may be the seller’s place of business.

Sales 98
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Crypto Fails To Impress For Corporate Tax Payments

PYMNTS

When the state of Ohio partnered with cryptocurrency company BitPay last year, it meant the state would become the first in the U.S. to allow businesses to pay their corporate taxes in bitcoin. Ohio’s effort signaled a renewed push for corporate adoption of cryptocurrency.

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7 steps for an accurate and successful corporate tax return filing

ThomsonReuters

Once you have established your company as a C corporation, you can then file an option to be taxed as an S corporation, which means that tax obligations pass through to the owners’ personal tax reporting. If you don’t know what kind of corporation your business is, call the IRS Business Tax Line at 800-829-4933.

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Lodging Tax Insanity — So Many Ways to Tax Accommodations

CPA Practice

The department’s list of jurisdictions with a room tax is 66 pages long, and it may not account for every jurisdiction with a municipal room tax. It’s hard to get an exact count of taxing jurisdictions from states that don’t administer the taxes. Gail Cole is a senior writer at Avalara.

Tax 85
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Are Interstate Telecommuters During COVID-19 a Sales Tax Liability for Your Company?

ThomsonReuters

In response to the fluid and uncertain situation that many businesses are facing, Checkpoint Catalyst conducted a comprehensive survey of state tax agencies to find out how individual states are managing tax issues related to COVID-19 worker displacement. appeared first on Tax & Accounting Blog Posts by Thomson Reuters.