article thumbnail

A Comprehensive Guide to Building an Optimal Accounting System

Basis 365

In the complex world of business, a robust accounting system supports the foundation of financial clarity and control. Whether you're a small startup or a seasoned enterprise, building an optimal accounting system requires careful planning, strategic technology integration, and unwavering commitment to financial discipline.

article thumbnail

Managing sales tax: Are businesses satisfied with the additional effort?

TaxConnex

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.

Sales 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

What's new in May for state sales and use taxes

TaxConnex

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.

Sales 192
article thumbnail

13 Ways an Effective Accounting System Can Improve Business Decisions

Ronika Khanna CPA,CA

An accounting system can be an extremely powerful tool for business owners. How Much Money Do You Have In Your Bank Account? Many business owners, in the absence of an accounting system, will just look at their bank balance to determine their available funds. Digital Download (Ebook). Available at Amazon.

article thumbnail

What You Need to Know About the DEA’s Plan to Reschedule Cannabis – A Focus on Taxation

Withum

Most notably, Internal Revenue Code (IRC) Section 280E, which has been the culprit of imposing onerous effective tax rates on industry operators, will no longer apply after such rescheduling to a Schedule III substance under the CSA. A credit is a dollar-for-dollar reduction against taxes owed. What are qualified research expenses?

Legal 119
article thumbnail

How to file your taxes easily?

Simple Accounts

However, you may overlook the need to set aside time for taxes. Calculating taxes is a time-consuming process. Let us simplify the tax filing process for you by breaking it down into a few simple steps. Why should you waste your time learning how to pay taxes by reading pages and pages of information? Taxes in UAE. .

Tax 52
article thumbnail

How to avoid VAT penalties in UAE?

Simple Accounts

We cannot avoid paying taxes in our daily lives. We all pay taxes every day in one way or another. In UAE, most of the goods and services are subject to Value Added Tax. After each tax period, every taxable person in the UAE is supposed to file a VAT return with the Federal Tax Authority (FTA). . What is VAT? .

Tax 98