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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.

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Calculating the benefits of direct tax software

ThomsonReuters

As the burden of corporate tax compliance mounts, companies are increasingly turning to tax and accounting firms for help in complying with direct tax requirements. How can direct tax software help tax reporting?

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Understanding the Down Round in Tech Companies: Accounting & Tax Implications

Shay CPA

We want to give you a brief overview based on our experience, specifically delving into how the down round affects your accounting and your taxes. Talk with your accountant to get clarity about how these kinds of shares should all get entered into your accounting system. Then, look at: Tax deferrals.

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Best Tax Preparation Software for Small Business: What Tax Software to Choose?

Snyder

The biggest tax season challenge for a small business is tax preparation and filing. Most SMB owners fall into the trap of putting off taxes until the last minute because they don’t have professional tax accounting software backing them up. First, try to make the most out of your accounting software.

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What is a provision for income tax and how do you calculate it?

ThomsonReuters

What is a tax provision? Simply put, a tax provision is the estimated amount of income tax that a company is legally expected to pay to the IRS for the current year. A tax provision is just one type of provision that corporate finance departments set aside to cover a probable future expense. Current income tax expense.

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Lost Accounting Data – Emergency Plan for Limited Company Contractors

Cheap Accounting

They say that “a reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet”. At this point you may wish to use a Cloud Accounting system such as FreeAgent which you can pay for directly or this can be FREE if you have a Mettle or NatWest business bank account.

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Manual vs. Automated Accounting: What’s the Difference

Accounting Seed

Keep reading to learn why when it comes to manual vs. automated accounting, automation usually wins. What is a Manual Accounting System? A manual accounting system keeps financial records by hand rather than on a computer. What is Automated Accounting? That’s a win for automation and your business.

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