ThomsonReuters

FEBRUARY 6, 2024

Jump to: When to consider an automated tax software solution Benefits of sales tax automation software What if you don’t have a complex business model? Automation guarantees the correct indirect tax calculated in every jurisdiction where you do business. Where is the sales tax due?

Sales 98

Sales Tax audit Account 98

TaxConnex

MARCH 25, 2021

From a sales and use tax perspective, there isn’t much of a difference between a subcontractor and a prime or general contractor. At first glance, the sales and use tax requirements for a contractor seem quite simple. As such, all purchases by a contractor are usually subject to sales and use tax.

Construction 171

Construction Tax Sales 171

TaxConnex

APRIL 20, 2021

This time of year, everybody’s mind is on income tax preparation. And for many accountants and CPA firms, this time of year means extra-long hours and more time spent managing clients’ finances. The fact is, when it comes to many companies’ federal and state income tax returns, they don’t rely on an automated income tax return.

Sales 139

Sales Tax tax return income tax 139

TaxConnex

SEPTEMBER 15, 2020

Sales tax is complicated. Many sales tax companies will tell you it’s simple with their solution, but when you take a look at all that goes in to compliance – you will understand that no technology can fully automate or manage sales tax without a good bit of project management from your side.

Sales 227

Sales Tax tax consultant cpa firm 227

TaxConnex

NOVEMBER 16, 2021

The explosive growth of online sales means that state and local governments are searching for ways to recoup the tax revenue that they have determined they are owed. Between the second quarter of 2020 and the second quarter of 2021, online sales in the United States grew by 28 percent. This is known as “ economic nexus.”.

South Dakota 164

South Dakota E-commerce Rhode Island Illinois 164

TaxConnex

APRIL 27, 2021

Sales tax obligations are getting more complicated for businesses of all industries. In this blog, we’ll talk to some of the common missteps businesses make when trying to manage sales tax on their own. Figuring out where you have nexus is key to determining your sales tax liability.

Sales 130

Sales Tax Wisconsin Missouri 130

AdviceForTaxpreparers

SEPTEMBER 8, 2020

Advice for Tax Preparers Making tax preparers lives easier one blog at a time HOME. Earn $20 per Book Promoting My Tax Preparer Book from Home in Your Spare Time. My name is Bill Meador and I am writing a book to help tax staff succeed in a public accounting firm tax department. Issue 1: I’m lousy at sales.

tax preparation 246

tax preparation Tax cpa firm CPA 246

TaxConnex

APRIL 15, 2021

The United States has possibly the world’s most complex sales tax regime. This is because each state sets its own sales tax rules, and states often take widely varying approaches. On top of this, local area tax jurisdictions also have power over some aspects of taxation and can set different rules for their area.

Sales 131

Sales Tax 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 119

Sales South Dakota Tax corporation tax 119

ThomsonReuters

JULY 25, 2023

A company’s decision to introduce indirect tax (IDT) automation into its tax processes is often fraught with indecision and uncertainty. Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be.

Technology 93

Technology Tax audit Sales 93

ThomsonReuters

AUGUST 25, 2023

Jump to: How does depreciation affect corporation taxes? Accelerated depreciation for corporations How does depreciation work in an S corporation? What is the depreciation guidance for corporate alternative minimum tax? With tax obligations on the rise, your role as a trusted advisor is bound to grow in importance.

corporation tax 98

corporation tax Tax income tax financial statements 98

Xero

JANUARY 24, 2024

It can be tricky to keep tabs on the taxes and deductions you owe throughout the year as a small business. However, paying on time means getting peace of mind that you’re meeting your GST payment obligations as a business, and avoiding late penalties that cut into your earnings. What is the filing frequency for my business?

bookkeeping 90

bookkeeping Sales accounting software Legal 90

ThomsonReuters

DECEMBER 20, 2020

Wayfair decision dramatically shifted the sales tax landscape in the United States. Companies of all sizes are facing sales tax compliance obligations that are more complex than ever. So how do you determine if you have a sales tax obligation in multiple states?

South Dakota 72

South Dakota Sales Tax E-commerce 72

ThomsonReuters

AUGUST 25, 2023

Jump to: What is tax depreciation on rental property? How is depreciation taxed on the sale of rental property? How do you avoid depreciation recapture tax on rental property? There are also tax benefits to be gained. million American tax filers declared rental income in 2019.

Tax 52

Tax Account accountant accounted 52

Acterys

FEBRUARY 22, 2023

These reports are then used by executives, managers, and other stakeholders for operational and strategic reasons. In this blog, we look at three main reporting types that FP&A teams must use to monitor the financial health and performance of a business. Here are some examples of financial statements: 1.

financial statements 130

financial statements accounting and finance Sales Finance 130

ThomsonReuters

JANUARY 30, 2024

Over the next few years, dozens of countries will be rolling out mandates for e-invoicing and continuous transaction controls (CTCs) as part of a global trend toward the complete digitalization of tax reporting and remittance. What’s a tax director to do?

Government 52

Government Tax Sales Account 52

Xero

NOVEMBER 30, 2022

See how we’re Building on Beautiful. We’re making changes to your Xero Practice Manager (XPM) and Xero HQ account. Enhancements to job manager in XPM — Global. Get ready to switch to new reports. We’ll now remind you to save your custom report before you navigate away from it, so your changes aren’t lost.

payroll 81

payroll Tax tax return bookkeeping 81

DuctTapeMarketing

JULY 24, 2018

For small business owners, managing payroll can be a costly endeavor. When payroll is handled in-house, you need the appropriate software to support the job, an employee who has hours to dedicate to the process each week, and a keen understanding of tax laws and employer obligations. Small Business Finances. About Company.

payroll 142

payroll accounting and finance Start-ups Tax 142

ThomsonReuters

SEPTEMBER 8, 2023

Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables. Which is better: a C corp, S corp, or LLC?

income tax 75

income tax Tax Legal tax return 75

ThomsonReuters

SEPTEMBER 1, 2022

What is the Superfund Excise Tax? 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.” Automation and the Superfund Excise Tax.

Technology 52

Technology Tax Manufacturing accounting and finance 52

ThomsonReuters

JANUARY 28, 2022

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

Tax 102

Tax tax preparation bookkeeping bookkeeping services 102

Mark Lee

OCTOBER 31, 2023

Clients who have been with you for some time and who trust you don’t care how you do what you do for them. Although I agree that is pretty outdated now ;-) When people talk about how you must embrace the future or you’re practice will collapse, they are simply trying to scare you and to get you to buy their products or consultancy.

tax return 92

tax return bookkeeping bookkeeping software accounting and finance 92

Snyder

JUNE 20, 2022

To execute more complex tasks such as filing compliant tax returns, you will need an integrated e-commerce accountancy app. Aside from tending to your legal obligations, accounting allows you to track sales, expenses, profits, and tax liabilities to stay in control of your finances at every step.

E-commerce 52

E-commerce Account accountant accounted 52

Xero

MAY 16, 2022

From pandemic restrictions to Making Tax Digital (MTD), hospitality businesses have had to stay agile and adapt to many changes in the past few years. In this guide, we’ll look at what the government’s Making Tax Digital initiative means for your hospitality business in practical terms. A closer look at MTD for hospitality.

Hospitality 72

Hospitality Tax income tax tax return 72

ThomsonReuters

DECEMBER 13, 2021

For indirect tax teams, the question of whether and when to invest in more tax technology often looms large, depending on the size of the organization and the immediate challenges facing the department. So when is the right time to invest in indirect tax automation ? Get ahead of indirect tax problems.

Technology 52

Technology Tax corporation tax audit 52

Mark Lee

DECEMBER 12, 2023

My advice in this blog post about safeguarding your practice largely concerns only what I might call ‘simpler’ clients. I had thought this might not happen until MTD for income tax becomes a reality. They generally move only when they feel their accountant doesn’t care enough about them, puts their fees up significantly or messes up.

tax return 94

tax return Tax bookkeeping bookkeeping services 94

Ronika Khanna CPA,CA

APRIL 14, 2022

Being a small business owner comes with challenges, not the least of which is doing your taxes. While most Canadian taxpayers have relatively simple tax returns that can easily be completed using software, small business owners have the additional burden of reporting details relating to their businesses.

Tax 52

Tax tax return business tax accounting and finance 52

ThomsonReuters

NOVEMBER 2, 2021

As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities. Does every corporation file income tax returns?

tax return 59

tax return corporation tax income tax Tax 59

ThomsonReuters

SEPTEMBER 2, 2021

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.

income tax 52

income tax Tax corporation tax accounting and finance 52

ThomsonReuters

JULY 6, 2023

In today’s ultra-competitive business landscape, being an accountant means far more than preparing tax returns or compiling financial statements. But what does accounting advisory mean and how can your firm take advantage of this unique opportunity to showcase your knowledge and build deeper relationships with your clients?

Account 88

Account accountant accounted tax return 88

ThomsonReuters

OCTOBER 12, 2023

How to report foreign income What is Form 1099-DIV? Tax implications for owning property abroad What is FATCA? Helping clients with foreign income tax forms For U.S. citizens living abroad or earning income from foreign sources, questions often arise on how the U.S. Jump to: What is foreign income?

Tax 40

Tax tax return income tax Real Estate 40

Snyder

JANUARY 8, 2023

This article answers the questions for anyone curious about how to start a dropshipping business: What is dropshipping? How does it work? How can you find a dropshipping niche? How to start making money with dropshipping business? How to grow your business? How does dropshipping business work? Are you in?

E-commerce 98

E-commerce Non-Profits Start-ups Maine 98

Cheap Accounting

AUGUST 31, 2023

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. Directors have legal obligations bestowed on them when they are appointed including keeping accounting records and filing accounts. What taxes will I pay? It can all seem daunting and overwhelming at first.

Start-ups 75

Start-ups Account accountant accounted 75

ThomsonReuters

APRIL 18, 2023

So, what are common mistakes in the cash flow statement and how can you help clients improve cash flow management? It could also represent cash used for investing in assets, as well as proceeds from the sale of equipment or other long-term assets. Therefore, cash flow statements must be accurate.

accounting and finance 59

accounting and finance accounts payable Finance Account 59

xendoo

DECEMBER 15, 2021

Increasing sales and gaining new customers is one part of the equation. With so many obligations resting on the business owner’s shoulders, it can feel like there are not enough hours in the day to accomplish every task, and eventually the books may fall behind. . Cash Flow Management.

bookkeeping 69

bookkeeping financial statements Tax bookkeeping services 69

LyfeAccounting

JULY 20, 2021

An operating agreement is a legal document that outlines the rights, rules, and obligations for the internal operations of your LLC. It is there to lay ground rules and procedures for how the business owners and the managers of the business will handle decisions. We wish it was that easy, right? Let’s jump right into it!

income tax 52

income tax payroll tax accounting and finance Tax 52

ThomsonReuters

APRIL 7, 2021

Private companies, whether you’re looking to value your business in preparation for a sale, to help raise debt or equity funding, for some other business purpose, or simply for your own edification, you’ve probably found that the valuation process isn’t an exact science and is rather intimidating. Financial statement presentation.

financial statements 71

financial statements Legal Tax Account 71