MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

payroll tax 147

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TaxConnex

MAY 26, 2022

Sales of tangible personal property (TPP) are presumed to be taxable unless specifically identified as not taxable. However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. Sales tax obligations start with nexus. Today all 45 states that have a sales tax (and D.C.)

South Dakota 167

South Dakota South Carolina Sales Illinois 167

MyIRSRelief

APRIL 29, 2024

Understanding sales tax regulations, occupancy taxes, and fluctuating seasonal income is essential for these businesses. Audit Representation: In the event of an IRS audit, a qualified tax professional will represent your business, ensuring your rights are protected and navigating the process efficiently.

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Tax bookkeeping Account accountant 130

TaxConnex

JANUARY 18, 2022

There’s a lot of talk in sales tax about nexus, thresholds, forms, filing and many other details of compliance. One often overlooked aspect of compliance, but extremely important, is the sales tax exemption certificate. An exemption certificate is used to exempt an otherwise taxable transaction from sales tax. Exempt’ from what?

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auditor Manufacturing Tax Sales 198

TaxConnex

MAY 11, 2021

Both the process of reporting sales tax and the level of sales tax detail required varies from state to state. Some reporting requirements that should be considered in your sales tax compliance process are: 1. In most states, sales tax is reported to the individual state. Know your Deadlines.

Sales 131

Sales Tax Colorado tax return 131

ThomsonReuters

DECEMBER 20, 2020

What is the difference between sales tax and value-added tax (VAT)? Both sales tax and VAT are types of indirect tax – a tax collected by the seller who charges the buyer at the time of purchase and then pays or remits the tax to the government on behalf of the buyer. Sales tax vs. VAT overview. legal services).

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TaxConnex

DECEMBER 29, 2020

An exemption is an exception that eliminates the need to pay sales tax. The presumption is that all sales of tangible personal property are taxable unless specifically enumerated. The purchaser has the responsibility for determining whether a sale is exempt from tax. The nature of the exemption (resale, manufacturing and so on).

auditor 163

auditor audit Tax Sales 163

CPA Practice

JULY 31, 2023

The new promotions touch the firm’s offices in both Pittsburgh and Columbus, and they reach across several areas of the firm’s service offerings, including the firm’s Tax, Audit and Consulting practices, as well as the Merger and Acquisitions/Transaction Advisory practice. Deatrick joined the firm in 2009. Deatrick joined the firm in 2009.

Real Estate 97

Real Estate West Virginia Manufacturing audit 97

Going Concern

JANUARY 4, 2024

Dion provides audit, review and attest services to public and private companies in a variety of industries including technology and life sciences, government, not-for-profit, hospitality and corporate social responsibility. Manufacturing & Consumer Products Practice). Lisa Dion (Seattle, Wash., Technology Practice).

Real Estate 58

Real Estate Hospitality Construction Texas 58

CPA Practice

MAY 10, 2024

KSM Announces Appointments for Five New Leadership Roles Katz, Sapper & Miller (KSM) recently announced the appointments of Erin Eberly, Jason Patch, Mike North, Mike Lee, and Jamie Ellis to newly created roles overseeing the firm’s tax, audit, and advisory practices, its industry groups, and its operations.

Tennessee 64

Tennessee New York audit income tax 64

CPA Practice

MARCH 27, 2024

All 45 states that have sales tax also have use tax, and certain industries, like manufacturing, construction, and hospitality, often face greater risks of noncompliance because the use tax rules for these businesses are more complex and can vary from state to state.

Technology 69

Technology Tax audit accounts payable 69

Cherry Bekaert

APRIL 4, 2024

Please look at the 45+ eligible vehicles regarding eligibility.

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auditor tax return audit Tax 90

Acterys

FEBRUARY 7, 2023

For example, your business might have experienced an increase in sales last year when you hired more staff members to assist customers in physical stores. In the post-pandemic world, the retail and manufacturing industry has experienced unexpected demand for various product categories.

Maine 130

Maine Sales Manufacturing audit 130

Accounting Insight

JANUARY 5, 2024

In other words, manufacturers, distributors and retailers collect VAT as an item or service makes its way to a final consumer. Differences between Sales Tax and VAT The main differences between Sales Tax and VAT are who pays tax to the local governments and when. What’s GST? Read more about VAT compliance for eCommerce here.

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audit Tax Maine Government 52

CPA Practice

FEBRUARY 19, 2024

Previously a tax managing director at a national firm, she has extensive experience working with closely held businesses and their owners in the construction and manufacturing industries. Based in Atlanta, GA, Borsuk serves as the national sales leader and was formerly the leader of the firm’s Blackline practice.

New Hampshire 64

New Hampshire audit accounting and finance Non-Profits 64

Going Concern

NOVEMBER 23, 2023

Truncale, who rose from being an EY intern to her appointment as the first woman to run a Big Four firm, is a certified public accountant by training with core skills in auditing, accounting and consulting, which will be key to moving the firm beyond the abandoned split of its advisory and audit arms into separate businesses.

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audit CPA Start-ups Manufacturing 111

Going Concern

MAY 12, 2022

I’m not a betting man, and that’s a good thing because, while not official yet, I would have bet my house on KPMG UK being fined more than £15 million for the whole Carillion audit fiasco. KPMG faces £14.4mn fine for misleading UK regulators over Carillion audit [ Financial Times ]. KPMG has also agreed to pay £4.3mn in costs.

auditor 52

auditor audit Construction Manufacturing 52

CPA Practice

APRIL 7, 2023

Flowers has extensive experience developing, deploying, and managing all facets of enterprise resource planning (ERP) systems across multiple industries including manufacturing, wholesale distribution, pharmaceuticals, software, and financial services.

NetSuite 52

NetSuite Pharmaceutical Manufacturing audit 52

CPA Practice

FEBRUARY 1, 2024

Previously a tax managing director at a national firm, she has extensive experience working with closely held businesses and their owners in the construction and manufacturing industries. Based in Atlanta, GA, Borsuk serves as the national sales leader and was formerly the leader of the firm’s Blackline practice.

New Hampshire 52

New Hampshire audit accounting and finance Non-Profits 52

Going Concern

JULY 21, 2023

PCAOB inspection reports provide investors, audit committees, and potential clients with important information they can use to make informed decisions. By making that information easier to find and compare, these new tools will empower users to hold firms accountable for producing high-quality audits,” said PCAOB Chair Erica Y.

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audit Tax Manufacturing Government 89

CPA Practice

AUGUST 17, 2023

in the construction, distribution, hospitality, manufacturing, nonprofit, real estate, and technology sectors. In that arrangement, Smith + Howard PC, a licensed CPA firm, provides audit and other attest services to its clients, while Smith + Howard Advisory LLC provides tax, accounting, and advisory services to its clients.

Real Estate 52

Real Estate accounting firms tax consultant Technology 52

ThomsonReuters

SEPTEMBER 1, 2022

The revised Superfund Excise Tax , part of the Infrastructure and Investment Jobs Act , is a tax on the sale or use of “hazardous chemicals,” as well as the sale or use of certain imported “hazardous substances.” What is the Superfund Excise Tax?

Technology 52

Technology Tax Manufacturing accounting and finance 52

CPA Practice

MAY 17, 2023

The newly appointed partnership members come from various locations and departments, including tax, assurance, business valuation, compliance, and sales. Sweeney has over 16 years of experience performing quality internal control and financial audits for multi-billion-dollar companies across various industries. Vincent College.

South Carolina 52

South Carolina North Carolina Colorado audit 52

CPA Practice

NOVEMBER 9, 2023

That classification has placed cannabis alongside drugs like heroin, ecstasy, and methamphetamines, which has made tax filing for legal sale of cannabis a nuanced, difficult process. Up to this point, cannabis has been classified as a Schedule I drug, meaning it is considered to have a high potential of abuse.

Non-Profits 85

Non-Profits Real Estate Agriculture Legal 85

Withum

MARCH 3, 2023

Supreme Court interpreted sales tax nexus under the Commerce Clause as a minimal physical connection with a state; however, in South Dakota v. 2080 (2018) , the Supreme Court held that physical presence is no longer the only requirement for sales tax nexus and expanded the meaning of nexus to include sales into a state by a remote seller.

South Dakota 52

South Dakota Tax Real Estate Sales 52

CPA Practice

MAY 17, 2023

goods for resale and manufacturing ingredients and components) generally aren’t considered to be personal property, nor is intangible property like copyrights and trademarks. You’ll spend less time buried in spreadsheets and end up with a returns process that can be readily audited.

South Dakota 105

South Dakota North Dakota Real Estate Washington 105

KROST

MARCH 9, 2022

We have also delivered a record number of due diligence reports, including Quality of Earnings reports, which we produce with our colleagues in the Audit department”. One of the transactions we worked on was the sale of Global Oncology to The Oncology Institute (NASDAQ: TOI).

Entertainment 52

Entertainment cpas tax accountant Healthcare 52

KROST

JANUARY 19, 2022

We have also delivered a record number of due diligence reports, including Quality of Earnings reports, which we produce with our colleagues in the Audit department”. One of the transactions we worked on was the sale of Global Oncology to The Oncology Institute (NASDAQ: TOI).

Entertainment 52

Entertainment cpas tax accountant Healthcare 52

Pooley Accounting Services

AUGUST 5, 2021

According to the IRS , you’ll want to keep: Related to sales and income – . You’ll need these documents to prove your income and expenses to the IRS in the event of an audit, so be sure to keep them on file for at least 3 years from the time of filing, which is how long the IRS has to audit you. Cash register tapes.

Tax 52

Tax Real Estate tax return audit 52

CPA Practice

OCTOBER 18, 2023

Additionally, examine personal income tax rates and sales tax rates, as they can affect both your business revenue and personal finances — both of which can also impact your ability to attract and retain talent. It provides tax credits for businesses engaged in specific industries, such as mining and manufacturing.

business tax 59

business tax Tax Alaska South Dakota 59

PYMNTS

OCTOBER 12, 2020

Based in Santa Monica, California, one of its missions is to change the way the entire industry details its ingredients and manufacturing processes, including an advocacy effort to update federal regulations that have stood largely unchanged since 1938. In today's underregulated beauty market, however, doing so is extremely challenging.".

Manufacturing 108

Manufacturing Retail New York California 108

PYMNTS

AUGUST 23, 2020

It will be the world's only publicly listed, licensed, insured and audited digital asset platform, which BC Group CEO Hugh Madden said is "a game changer," as it would give investors much more certainty and confidence in the form. The sales will go toward its ambitions of making an "open-source Bloomberg for DeFi," CoinDesk reported.

Technology 60

Technology Manufacturing Finance audit 60

PANALITIX

MAY 31, 2021

First, let’s define ‘Specialization’ as: Developing and marketing products and services based on specific expertise to create differentiation from competitors and achieve more sales. Internal Audit. In this brief overview, we’ll address important topics for firms on the journey to specialization. Forensic Accounting.

Account 130

Account accountant accounted Non-Profits 130

TaxConnex

SEPTEMBER 7, 2023

Nonprofits are often thought to be exempt from sales taxes, but is that correct? They also frequently sell TPP such as merchandise, memberships, books and so forth that for-profit companies generally have to charge and collect sales tax on. Are non-profits exempt from sales tax obligations? That depends on many factors.

Sales 147

Sales Tax Non-Profits North Carolina 147

ThomsonReuters

MAY 27, 2022

But for those operating in a complex network of manufacturers, logistics partners, distributors, raw goods suppliers, and sales channels, remaining compliant carries tremendous burden and risk. Auditing those classifications has taken on an elevated importance.

Technology 93

Technology audit Virginia Manufacturing 93

Going Concern

MAY 19, 2023

Special Report: KPMG Canada beats Big Four accounting rivals in net new client gains [ Canadian Accountant ] For the second year in a row, KPMG Canada has surpassed its Big Four rivals in net new audit client gains, helping to offset the loss of a controversial company as an audit client. Securities and Exchange has identified 174 U.S.-listed

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auditor audit accounting and finance South Carolina 96

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What is a reverse sales tax audit? What information is necessary for a reverse audit? Such audits can also uncover industry-specific credits and exemptions that may have been overlooked. What is a reverse sales tax audit? Correction of taxes overcharged to customers is handled a bit differently.

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audit Sales Tax Manufacturing 52