TaxConnex

FEBRUARY 3, 2022

Sales tax has evolved a lot in recent years. So has the sales tax audit. According to the Tax Policy Center, money collected from sales tax can be the leading source for many jurisdictions, constituting 25% to 35% of a state’s revenue. Many events can ignite a sales tax audit. And why not? Are they happening more often?

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PYMNTS

SEPTEMBER 21, 2020

It said the letter addresses the use of stablecoins supported by one fiat currency on “a one-to-one basis where the bank verifies at least daily that reserve account balances meet or exceed the number of the issuer's outstanding stablecoins.”.

Massachusetts 68

Massachusetts Education Sales Account 68

CPA Practice

JUNE 5, 2023

Professionals on the Move is a round-up of promotions and hiring announcements in and around the accounting profession. He received bachelor’s degrees in economics and in finance and accounting from the University of Maryland. billion, and led diligence efforts for its sale to SAP. Shekel holds an M.B.A.

Indiana 93

Indiana Massachusetts Real Estate CPA 93

ThomsonReuters

JULY 10, 2023

Sales tax vs. use tax Summary Sales tax and use tax are important sources of revenue for the government but properly calculating, collecting, and reporting these taxes can quickly get complicated. People are probably most familiar with sales tax but an important indirect tax that is not to be overlooked is use tax.

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CPA Practice

JANUARY 17, 2023

Massachusetts: The Massachusetts Society of CPAs (MASSCPAs) wants members to prioritize their health this tax season. Nevada: The Nevada Society of Certified Public Accountants (NVCPA) announced several upcoming events including the 2023 Annual Gaming Conference , which is scheduled to take place May 16 and 17, 2023.

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CPA Pennsylvania Tennessee Nevada 124

CPA Practice

APRIL 5, 2024

Taxpayers in Washington will pay the most on everyday expenses ($83,014), followed by those in California ($78,191), accounting for food, clothing, personal care, and entertainment. Massachusetts $1,857,438 $816,700 44.0% Massachusetts $1,857,438 $816,700 44.0% Connecticut $1,731,261 $855,307 49.4% Maine $1,420,847 $581,750 40.9%

West Virginia 126

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ThomsonReuters

APRIL 25, 2024

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

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South Dakota Rhode Island New Hampshire Wyoming 52

Going Concern

FEBRUARY 19, 2024

PwC is gonna get sued over Evergrande : Evergrande’s liquidators are preparing for a potential lawsuit against PwC, which audited the now-collapsed Chinese property group for more than a decade, in a move that could lead to the Big Four accounting firm facing a high-profile negligence claim. appeared first on Going Concern.

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CPA Practice

MAY 10, 2024

ICPAS will formally present awards to the following honorees at the Leadership Recognition & Awards Dinner in Chicago on June 13, 2024: Lifetime Achievement Award The Lifetime Achievement Award is the highest honor bestowed on a member who has demonstrated distinguished service to ICPAS and the accounting profession. Wolfe, Ltd.

CPA 64

CPA Illinois Kansas Oklahoma 64

CTP

NOVEMBER 1, 2022

Tax planners can provide tremendous value in the sale of a business. This is especially true for the sale of a C corporation since this business type is taxed separately from its owners. This is especially true for the sale of a C corporation since this business type is taxed separately from its owners. In the case of Norwalk v.

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PYMNTS

OCTOBER 3, 2019

Amazon has opened its first physical store in Massachusetts. Located at the Natick Mall in Natick, Massachusetts, the 4-star store is the fifth physical location nationwide for the eCommerce giant. In the most recent quarter, Amazon’s Physical Stores division accounted for $4.3

Massachusetts 69

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CTP

MARCH 30, 2023

In these three related appellate cases, the IRS sought to recharacterize millions of dollars that had been paid as commissions into a domestic international sales corporation (DISC) and then shielded from income tax when the DISC contributed the funds to a Roth IRA. Sixth Circuit: Summa Holdings v. The First Circuit: Benenson v. Commissioner.

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income tax Ohio Massachusetts Tax 98

PYMNTS

NOVEMBER 3, 2020

With the approval in Alabama, CORO is now available in the Apple App Store and Google Play store to residents in 13 states: Florida, Alabama, Arizona, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, Oregon, South Carolina, Washington State and Wisconsin.

Alabama 93

Alabama South Carolina Montana Idaho 93

PYMNTS

JANUARY 8, 2020

By using secret card-reading devices and pinhole cameras at various locations, Rusu and others were able to commit a widespread bank fraud conspiracy that targeted various banks in Massachusetts, New York and New Jersey from August 2014 to November 2016, according to law enforcement.

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CTP

NOVEMBER 1, 2022

What does personal goodwill have to do with the sale of a business? This is especially true for the sale of a C corporation since this business type is taxed separately from its owners. This can dramatically reduce the profits of that sale. Close, Personal Relationship with Customers. In the case of Norwalk v.

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Tax Massachusetts Sales Maine 52

CPA Practice

OCTOBER 4, 2023

Massachusetts introduced a state-level wealth tax last year, and the legislatures in California , Connecticut , Hawaii , Illinois , Maryland , New York , Oregon and Washington have all seen wealth tax bills introduced this year. The answer: forced sales. What happens in forced sales? Elizabeth Warren (D-MA) and Rep.

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Tax income tax Hawaii Oklahoma 105

Snyder

OCTOBER 12, 2022

This article might be useful for those choosing their career path in accounting or aspiring to change jobs as well as for owners of businesses who are considering various accounting solutions for their business. Current situation in the accounting industry. Accounting solutions. Bookkeeper vs accountant.

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CPA Practice

DECEMBER 18, 2023

CalRecycle could assign each FEIN a manufacturer account and distributor account. Businesses that have a separate federal tax ID for each brand or label will need to submit an application for each FEIN. In both cases, CalRecycle will decide if the applicant(s) is a manufacturer, a distributor, or both.

California 89

California Manufacturing Iowa Vermont 89

PYMNTS

SEPTEMBER 24, 2020

the Massachusetts-based accounts payable (AP) automation software provider, on Thursday (Sept. Instant settlement helps Main Street merchants close the gap between a sale and a bank account deposit, but what about small and medium-sized businesses (SMBs) that don’t operate storefronts and are paid by check?

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AP Automation Massachusetts accounts payable B2B 54

CTP

OCTOBER 31, 2022

The unfortunate news you will have to break to them is that the tax consequences can significantly reduce their proceeds—which is why they will need a tax strategy in place before moving forward with a sale. One tactic to consider when advising on a business sale is applying the concept of personal goodwill.

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Tax Non-Profits Massachusetts Sales 52

CTP

OCTOBER 31, 2022

Since this intangible “asset” belongs to the individual, its sale will be taxed at a lower rate (as a long-term capital gain instead of ordinary income). This means that if part of the value of the business being sold can be attributed to personal goodwill, that can increase the profitability of the sale.

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Tax Non-Profits Massachusetts Sales 52

inDinero Accounting

DECEMBER 5, 2023

The IRS defines a qualified trade or business as any field other than the following: Health Law Engineering Architecture Accounting Actuarial science Performing arts Consulting Athletics Financial services Brokerage services Farming Hotels Motels Restaurants Finally, businesses reliant on the reputation of an owner or employee, don’t qualify.

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tax return Mississippi Wisconsin Tax 52

Going Concern

JANUARY 6, 2023

So customers have filed more than a half-dozen proposed class actions against the NFL’s Tom Brady, accounting firm Prager Metis and Bankman-Fried as an individual, among others. 2024 CPA Exam Blueprints released [ Journal of Accountancy ]. Employers added 223K jobs in December, but cut 1,100 in accounting [ Accounting Today ].

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cpa firm CPA New Hampshire Ohio 52

Lockstep

NOVEMBER 9, 2022

The following states prohibit surcharges or restrict the use of the surcharge: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma, and Texas. The amount of a surcharge is determined by a flat percentage of the total value of the sale. The cost to the customer is now $103.

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Legal Oklahoma Kansas Connecticut 66

PYMNTS

NOVEMBER 11, 2019

In fact, in general, a “more is more” attitude prevails – from the decorations to the lights to the proliferation of sales events, it seems the entire commerce ecosystem has adopted a “go big or go home” mantra for the last eight weeks of the decade. Thus far, it doesn’t seem like anyone is all that interested in going home.

Massachusetts 40

Massachusetts Construction Washington Manufacturing 40

PYMNTS

MARCH 19, 2019

New Jersey is the second state to outlaw cashless stores after Massachusetts, which signed a similar bill into law back in 1978. The law only applies to in-person sales and there are some exclusions: car rental companies, parking garages and some airport shops.

New Jersey 50

New Jersey Massachusetts Washington New York 50

ThomsonReuters

JULY 7, 2021

Form 941 was updated a few more times to account for the COVID-19 credit amendments and expansions. Supreme Court has declined to hear a case filed by New Hampshire regarding its neighboring state of Massachusetts’ policy of continuing to withhold income tax on employees working remotely due to the COVID-19 pandemic.

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PYMNTS

FEBRUARY 4, 2019

Vendors must also consider battery life when choosing a solution, lest they be forced to stop and recharge their devices during high-traffic sales periods. . Zinneken’s launched its food truck in 2014, three years after opening its first brick-and-mortar location in Cambridge, Massachusetts. Zinneken’s Serves Sweets With Speed .

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Massachusetts Sales Start-ups Technology 40

PYMNTS

DECEMBER 6, 2018

The bill, which is set to go before the full state Senate, excludes retailers inside airports from the cash requirement, as well as sales made online and by telephone or mail. So far, only Massachusetts has a law banning cashless stores. Senate Commerce Committee. That’s certainly not our aim.”.

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E-commerce New Jersey Massachusetts Hospitality 53

ThomsonReuters

FEBRUARY 7, 2022

Massachusetts. per hour (employers with gross volume of sales of $500,000 or more) . per hour (employers with gross volume of sales of less than $500,000) . per hour for most employers with annual gross sales of $110,000 or less . Effective July 1, 2022, $14.50 per hour; $14.00 per hour for tipped workers .

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PYMNTS

JANUARY 29, 2019

We want to expand and increase our sales not only in the UK but in mainland Europe and throughout Asia,” Rosenzweig told The Financial Times. The goal, according to SharkNinja, is to double its European sales to around $660 million ( £500 million) over the next three years. And so SharkNinja is now looking beyond U.S.

Massachusetts 51

Massachusetts Legal Construction Sales 51

PYMNTS

NOVEMBER 15, 2019

Seiz claims to have raised about $100 million through the sale of his KaratGold Coin (KBC). Department of Justice announced that two Massachusetts men were arrested and charged with conducting a scheme to take over victims’ social media accounts and steal their cryptocurrency. The Karatbar and the cryptocoin is the future.

Massachusetts 40

Massachusetts Sales Account accountant 40

PYMNTS

JULY 15, 2016

Santander’s telemarketer used deceptive sales pitches to mislead customers into enrolling in overdraft service. Customers were reportedly persuaded into the service by telemarketers who were paid a higher hourly rate once he or she met specific sales targets. We will put a stop to any such unlawful practices that harm consumers.”.

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Rhode Island Delaware New Hampshire Connecticut 40

PYMNTS

MAY 13, 2020

Speaking with Karen Webster, Citi Commercial Bank Senior Vice President and Treasury Sales Officer Thor Perplies described the experience of working with Flywire to facilitate the movement of funds from the U.S. million pieces of PPE for Brigham and Women’s Hospital, Massachusetts General Hospital and others.

Hospitality 81

Hospitality Healthcare B2B Massachusetts 81

PYMNTS

NOVEMBER 26, 2019

StubHub Sale Signals eBay’s Refocus On Core Business. How Spend Tools Feed Food Banks’ Need For Accountability. Among the nonprofits working to feed local communities this holiday season is the Greater Boston Food Bank (GBFB), which offers food services to 190 cities and towns in the eastern Massachusetts region.

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Entertainment Massachusetts Gaming Sales 52

PYMNTS

AUGUST 12, 2020

Louisiana jewelry store owner Nora Buttross told a local ABC affiliate that it’s an outgrowth of the stimulus dollars that hit consumers’ bank accounts earlier this year. percent, while Chilmark, Massachusetts on Martha’s Vineyard saw a 30.6 The relief-package checks are making a difference,” she said. “I percent bump.

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PYMNTS

NOVEMBER 29, 2019

We have a deep dive on accounts payable (AP) automation, analysis on “Google Checking” and news on the T-Mobile data breach. The cyber thief got a hold of users’ names, billing addresses, phone numbers, plan information, and account numbers. T-Mobile Data Breach Puts Personal Data Of 1M+ Customers At Risk. Trackers and Reports.

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AP Automation Entertainment accounts payable AP Processes 51