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COVID-19 Scams Target The Business Community

PYMNTS

This week's B2B Data Digest takes a look at the numbers behind the latest instances of fraud, including fraudulent invoices, corporate tax scams and more. $19 Reports in Boss Hunting said two brothers based in New York are accused of committing fraud with the eCommerce conglomerate by posing as a legitimate B2B wholesaler.

B2B
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Tax Planning Versus Preparation – What is the Difference? – Part 1

CTP

For example, if I develop a tax plan and create $15,000 per year in tax savings by recommending an alternative entity for a business, the value of that work is $15,000 per year. Why is it impossible to do tax planning at the same time as you prepare a tax return? Basics in Tax Reduction. The Tax Calculation.

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Tax Strategies for Selling an S Corporation: Planning for an Asset Sale

CTP

If the asset is sold at a gain, that recapture can be taxed at ordinary income tax rates of up to 25%. When the sale of a business results in capital gain, the entity can report this on its tax return using Form 1120-S ( U.S.

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Deloitte Rolls Out Accounting, Payroll Platform For SMBs

PYMNTS

The tool integrates bookkeeping and management of financial statements, as well as both personal and corporate tax returns, the company added, and acts as a platform to facilitate collaboration between accountants, bookkeepers, business owners and other service providers.

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IRS Questioned Over Corporate Auditing Lag

PYMNTS

The IRS first announced changes to its auditing methods in 2016, noting that the strategy enables the agency to zero-in on high-risk transactions rather than having to audit and analyze every transaction on a company’s tax return. Finance predicting more IRS tax reforms ahead.

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Can indirect tax grow a company?

ThomsonReuters

Informatica Informatica is a B2B company that sells cloud data management solutions to help businesses understand the power of data. With an automated tax tool for their U.S. Thus, contributing to a more confident and effective tax management strategy. The solution provided critical accuracy and automation.

Tax