article thumbnail

Cannabusiness Tax Liabilities and How to Navigate Filing

CPA Practice

Thinking that only dispensaries have to worry about taxes to their cannabusiness? Entrepreneurs, processors, and cultivators in the cannabis industry may be subject to taxation, and it’s important for them to understand the complexities around their tax implications. Do they have to pay tax on all gross revenue? Think again.

Tax 111
article thumbnail

R&D Tax Credit: The Innovation Incentive

Cherry Bekaert

The Research and Development (R&D) Tax Credit is a federal incentive designed to promote innovation in the design, development and improvements of processes, products and services. It allows companies to receive tax credits when certain expenses are incurred for the performance of qualified R&D activities in the U.S.

Tax 75
Insiders

Sign Up for our Newsletter

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

article thumbnail

Monday Morning Accounting News Brief: Tax Fees Up, Coolness Still Down; | ‘Lavish’ ERC Mill Hit With a Lawsuit | 1.8.24

Going Concern

The headline is a bit disappointing however the article is not: Tax prep fees are rising because accounting is not a ‘cool’ career American taxpayers had to pay at least 20% more on average to get their taxes done last year — and accountants aren’t thrilled about it either. increase from $167 two years ago. In Sanders v.

Tax 98
article thumbnail

Industry Accounting Salary Outlook for 2023 is Not Horrible

Going Concern

Cost accountant. Senior cost accountant. Cost accountant manager. Financial reporting accountant. Internal audit manager. Internal audit director. Vice president of internal audit. Tax accountant. Senior tax accountant. Tax manager. Tax director.

article thumbnail

Accountant Vs. Controller: What's the difference?

Basis 365

What is an accountant? Non-controller accountants generally perform more straightforward accounting tasks than controllers. These responsibilities include internal reports, cost accounting, tax auditing, and cost accounting. Experience is the best teacher.

Account 97
article thumbnail

Specializing an Accounting Business: What and How?

PANALITIX

Cost Accounting. Forensic Accounting. Internal Audit. To offer one-off, or continuing, cost-effective solutions to tax problems while ensuring compliance in an evolving tax landscape. Another group of Accountants will specialize but Venture Away from Accounting. Commercial Finance.

Account 130
article thumbnail

Clarification on the manner of dealing with differences in ITC availed FORM GSTR-3B Vs ITC reflecting in GSTR-2A for FY 2017-18 and 2018-19

VJM Global

Considering the representations received, the department has clarified that how the difference should be dealt of Input Tax Credit appearing in GSTR-2A and ITC claimed in GSTR-3B for FY 2017-18 and 2018-19 vide Circular No. Action to be taken by Proper Officer during audit or Investigation or scrutiny.

cma 52