TaxConnex

MAY 7, 2024

The bill would raise the sales tax for online purchases in the state to 9.3%, claiming that the increase levels the field between online shopping and buying from local stores. Sales and use will be the inaugural tax to be serviced. The rate would be recalculated every five years. Voters throw a huge block.

Rhode Island 199

Rhode Island Sales Tax South Carolina 199

xendoo

FEBRUARY 23, 2022

As tax season looms, you may be wondering whether you should have an accountant prepare your taxes. In addition to considering how much an accountant costs , you’ll also want to consider how long an accountant will take to do taxes compared to trying to do it yourself. Tax Accounting Software.

Tax 94

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MyIRSRelief

MARCH 1, 2022

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Top 5 Reasons to hire a tax/accounting firm to service your businesses bookkeeping needs.

bookkeeping services 100

bookkeeping services bookkeeping Real Estate Non-Profits 100

ThomsonReuters

DECEMBER 19, 2023

Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. From staying informed on ESG trends and regulations to identifying green tax breaks, more and more businesses are turning to accountants for ESG reporting and compliance. In the U.S.,

Tax 52

Tax Account accountant accounted 52

TaxConnex

NOVEMBER 3, 2020

New York City tax revenues in March and April fell $1.15 Sales tax accounted for the largest decline, falling $918 million, or 23 percent. In New York State , the sales tax payment the county of Onondaga received recently was $10 million higher than the same period last year. Texas state sales tax revenue totaled $2.57

Sales 224

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CPA Practice

MARCH 22, 2024

Avalara is hiring locally in all departments, Deobald said, including legal, sales and customer account management—though she noted the Triangle office has comparatively fewer engineers. tax systems is getting increasingly complicated, as state and local governments find new (and politically tolerable) ways to raise revenue. “You

North Carolina 59

North Carolina E-commerce Technology Tax 59

Going Concern

NOVEMBER 24, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. A recent Tax Court opinion demonstrates this point well.

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TaxConnex

JUNE 9, 2022

Voters will likely be asked this fall if they’re willing to increase the city’s 5% sales tax to 6% during the summer in exchange for exempting food from sales tax year-round. Sales taxes have become less neutral, less equitable, and less economically efficient over time,” the Foundation said. Texas sales tax revenue totaled $3.83

Sales 192

Sales Tax Colorado Massachusetts 192

TaxConnex

MARCH 31, 2022

One quick explanation of the difference is an example from Alabama : The consumers use tax is imposed on tangible personal property brought into Alabama for storage, use, or consumption in the state when the seller did not collect seller’s use tax on the sale of the property. California state income tax return.”.

Tax 189

Tax Alabama Washington California 189

CPA Practice

JANUARY 17, 2023

In most cases, sellers using a marketplace facilitator, such as Amazon, can rely on the facilitator to collect and remit the sales tax on their behalf. Clients planning to have employees working and/or residing in another state must register to comply with the state’s payroll tax regulations. Paying Employees in Another State.

South Dakota 111

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TaxConnex

DECEMBER 20, 2022

“The calculations and reports that Shopify provides should help make things easier when it’s time to file and pay your taxes. You should always check with a local tax authority or a tax accountant to make sure that you charge your customers the correct sales tax rates, and to make sure you file and remit the taxes correctly.”.

Sales 130

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Going Concern

SEPTEMBER 15, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Happy National Leave Your Accountant the F**k Alone Day , everyone! The Public Company Accounting Oversight Board (PCAOB) will hold an open meeting on Tuesday, September 19, 2023, at 10:00 a.m.

audit 108

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Withum

MAY 19, 2023

At a glance, this means that costs, such as marketing, freight-out, retail employee salaries, and interest, are completely removed from the equation when calculating taxable net income. It was not until January 2015 that the first published guidance came from Washington in the form of CCA 201504011.

New Jersey 64

New Jersey Tax Legal Washington 64

inDinero Tax Tips

NOVEMBER 4, 2021

Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. However, most businesses are unprepared and need IRS tax audit help. Multiple loss years: Net operating losses can be valuable at tax time , but consistently reporting losses on your tax returns can raise IRS alarm bells.

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ThomsonReuters

FEBRUARY 15, 2023

Accountants who help clients effectively manage property taxes can further strengthen their role as a trusted advisor. As a significant source of state and local revenue in the United States, the importance of property taxes is not to be underestimated. Retailers, however, have pushed back.

Tax 52

Tax Real Estate Kansas South Dakota 52

PYMNTS

SEPTEMBER 19, 2017

Plus, the Google Calendar App now integrates with QuickBooks Online and QuickBooks Online Accountant, Intuit tools which help SMBs manage their banking, invoicing, taxes, accounting and employees. SMBs can now use Gmail to leverage integrated eInvoicing via Intuit tools. X Versus Pixel 2.

quickbooks 40

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Going Concern

JANUARY 26, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Indeed, trust is not built on mitigating risks alone. million from the federal government.

Account 117

Account accountant accounted audit 117

ThomsonReuters

MARCH 7, 2024

Any property that is subject to the rules of QIP and is leased by a single tenant now falls under the rules for QIP for tax accounting purposes. If an improvement qualifies under the rules of QIP, an entity must depreciate it over the 15-year prescribed recovery period for tax purposes.

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PYMNTS

DECEMBER 30, 2019

Merchants’ marketing departments may find bundling useful, but their accountants are less likely to see it positively — determining individual items’ tax obligations in the different states into which they are sold can be challenging, and putting offerings into bundles only magnifies complexities. Getting To Convenience .

Tax 52

Tax Iowa Gaming Retail 52

ThomsonReuters

JUNE 10, 2021

Under the Act, all non-retail, non-food service, or non-car rental employees must be paid at least $13.50 For the latest in tax, accounting, and payroll news, visit tax.tr.com/blog. The post Last Week in Payroll: Summertime Tax Tips appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

payroll 98

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ThomsonReuters

JUNE 21, 2021

As a result, premium pay requirements for retail businesses subject to the Blue Law exemption are in place, beginning with the holiday that took place on Saturday, June 19, 2021. COVID-19 related claims filed between March 14, 2021, through July 3, 2021, will not be charged against employer accounts. . Learn more.

payroll 52

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xendoo

JANUARY 16, 2023

Tax rate Single individual income Married (filing jointly) income 10% $10,275 or less $20,550 or less 22% $41,775 $83,550 24% $89,075 $178,150 32% $170,050 $340,100 35% $215,950 $431,900 Updates to Small Business Tax Rates The IRS updates small business tax rates yearly to account for inflation or other economic changes.

business tax 52

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TaxConnex

MARCH 2, 2021

If passed, this could add to the compliance burden of businesses /retailers with more than one location. House has passed a measure that would increase the general sales tax rate for clothing and many other items from 7% to 9.5%. Texas sales tax collections totaled $3.07 Sales tax accounts for 59% of the state’s tax collections.

Sales 229

Sales Tax Missouri Wisconsin 229

PYMNTS

APRIL 13, 2020

This mix of SMBs includes retailers, restaurants, professional and personal services firms, contractors, manufacturers, wholesalers and tech firms. Margins for restaurants and boutique brick-and-mortar retailers average between 3 percent and 5 percent of sales. Main Street retailers have the same concerns.

Maine 115

Maine payroll Manufacturing Government 115

Going Concern

NOVEMBER 3, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. How will AI affect accounting jobs? One of the primary concerns centers on how AI will affect accounting jobs and the career outlook for tax professionals.

financial statements 111

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