TaxConnex

MAY 27, 2021

Taking advantage of sales and use tax exemptions can save your business money and headaches. But exemptions can be harder to secure in some states than in others. The presumption is that all sales of tangible personal property are taxable without specific and enumerated exemptions.

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Sales Tax Connecticut Idaho 165

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. What is Affiliate Nexus?

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South Dakota E-commerce Rhode Island Illinois 163

ThomsonReuters

JULY 10, 2023

Jump to: What is use tax? What is nexus? Sales tax vs. use tax Summary Sales tax and use tax are important sources of revenue for the government but properly calculating, collecting, and reporting these taxes can quickly get complicated. What is use tax?

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Tax Massachusetts Washington South Dakota 98

CPA Practice

JULY 28, 2023

By Gail Cole Is sales tax based on shipping address or billing address? Understanding how sales tax works is fundamental for every retailer. If you’re doing business in a state with a sales tax, you may know you need to register for sales tax, then collect and remit tax as required by law.

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Sales Tax Retail New Mexico 98

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.

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Technology Tax audit Sales 93

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? While, in many instances, businesses are required to charge and collect sales tax from consumers, knowing when and how to charge sales tax can get complex.

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Sales Tax Michigan Washington 98

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes.

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ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

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audit Sales Tax auditor 105

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are the tax credits available for electric vehicles? How does the electric vehicle tax credit work? For accountants, understanding these tax credits is essential in ensuring clients make the most of their investment in clean vehicles. What are the tax credits available for electric vehicles?

Tax 52

Tax Colorado accounting and finance tax return 52

Ronika Khanna CPA,CA

SEPTEMBER 28, 2023

When starting your new Canadian small business or launching into self employment, it is essential to determine whether you are required to register for GST/HST (and QST if you have a started a business in Quebec ). The $30,000 limit applies to the last 4 quarters of revenues. This can be a substantial benefit for businesses and freelancers.

quickbooks 98

quickbooks Tax Sales Healthcare 98

Snyder

OCTOBER 31, 2022

You may want to start a new career or may consider starting an e-commerce store as a possibility of additional income. Whatever the reason, selling on Shopify may become your solution as it’s really easy and convenient. How to add a blog to your Shopify store? Which Shopify payment providers to use?

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E-commerce Start-ups Tax Sales 97

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is indirect tax? Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax.

Tax 52

Tax income tax Manufacturing corporation tax 52

ThomsonReuters

SEPTEMBER 8, 2023

Jump to: What are the main types of business ownership? What is a C corporation? What is an S corporation? What is an LLC? Many entrepreneurs wonder what types of business ownerships are possible and how to determine which one is right for their business. What are the main types of business ownership?

income tax 75

income tax Tax Legal tax return 75

ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs).

corporation tax 52

corporation tax Tax tax return income tax 52

Snyder

OCTOBER 27, 2022

This blog will teach you how to receive payments on Etsy , both including and apart from PayPal. This blog will teach you how to receive payments on Etsy , both including and apart from PayPal. This blog is a part of a series dedicated to the most popular e-commerce marketplaces’ payment solutions. What is Integrated PayPal?

E-commerce 98

E-commerce accounting and finance Tax Sales 98

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? The impact of South Dakota v.

South Dakota 72

South Dakota Sales Tax E-commerce 72

Nancy McClelland, LLC

DECEMBER 26, 2023

WHAT’S NEW (or isn’t) FOR 2023: – Beginning in 2022, the 1099-NEC was made so that it’s no longer year-specific; there are no changes to the form for 2023. – The IRS launched IRIS, a new free online portal , for businesses to file 1099 returns. NEC” stands for “non-employee compensation”.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

WHAT’S NEW (or isn’t) FOR 2023: – Beginning in 2022, the 1099-NEC was made so that it’s no longer year-specific; there are no changes to the form for 2023. – The IRS launched IRIS, a new free online portal , for businesses to file 1099 returns. NEC” stands for “non-employee compensation”.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

APRIL 9, 2023

Reminder: Due to a new law , Illinois S-Corp and Partnership owners should generally pay quarterly IL state ( not federal) taxes through the business. The post below is about how to pay IL taxes personally ; click here for how to make IL business tax payments. and ask you what kind of tax payment you wish to make.

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Illinois Tax tax preparation bookkeeping 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. 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.

tax return 94

tax return Tax bookkeeping bookkeeping services 94

ThomsonReuters

OCTOBER 25, 2022

Unbeknown to many companies outside of the United States, the US has reinstated a long-dormant environmental tax known as the Superfund Excise Tax , which impacts certain companies in the EU and UK — especially those involved in the chemical, gas, and petroleum industries. Producing in the US. benzoic acid.

Tax 59

Tax Manufacturing Sales Start-ups 59

Withum

SEPTEMBER 14, 2022

Thanks to the Inflation Reduction Act the IRS is hiring thousands of new field agents and examiners. Before this new funding, taxpayers of all stripes and income brackets enjoyed a period of very low audit rates due to the IRS’s shrinking workforce, which further exacerbated the audit statistics. 10 Troublesome Tax Schemes.

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Tax tax return audit Entertainment 105

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.

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Tax tax preparation bookkeeping bookkeeping services 102

CTP

AUGUST 17, 2023

As we mentioned in our last blog, small business owners can see major benefits from the Employee Retention Credit with a little expert guidance. Fortunately, training as a Certified Tax Planner provides access to ongoing education and the support of a community of tax professionals to help boost your knowledge on this fairly new credit.

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Government Tax Start-ups Education 52

ThomsonReuters

DECEMBER 14, 2022

Though an automated tax engine will ultimately improve a company’s overall operations, a successful implementation process does place certain demands on a company’s personnel, some of which can be challenging if not addressed properly. How to integrate with other technologies. Choice of software is imperative, however.

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Tax Technology accounting and finance accounts payable 59

ThomsonReuters

FEBRUARY 15, 2023

property taxes, which help fund roads, schools, emergency medical services, and other services, are a vital source of revenue for state and local governments. Property tax rates vary greatly among states and localities and can have a major impact  on business investments and where people decide to live.

Tax 52

Tax Real Estate Kansas South Dakota 52

Nancy McClelland, LLC

JULY 22, 2022

On June 27th I woke to find dozens of notifications from MyTax Illinois in my email inbox — one for each and every client of ours who files sales taxes. If you want to skip my rant and go to the section on what a small business owner should do next, scroll down to the next line in bold. My inbox on June 27th.

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Illinois Sales Tax tax return 52

Ronika Khanna CPA,CA

SEPTEMBER 1, 2023

A small smattering of the ways in which excel can help small business owners includes: Accounting spreadsheets: Many small business owners, self employed workers, freelancers etc who don’t have many transactions, are unincorporated and don’t require extensive reporting can simply use a spreadsheet to do their accounting.

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accounting software accounting and finance tax return Start-ups 65

DuctTapeMarketing

JULY 24, 2018

Contact Us Contact Our Team. 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. to a third party may be nerve-wracking, there are some tips to help ease the transition.

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payroll accounting and finance Start-ups Tax 142

LyfeAccounting

JUNE 25, 2021

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes?

income tax 52

income tax South Dakota Tax Alaska 52

ThomsonReuters

MARCH 28, 2023

Compliance may not be the most glamorous task facing indirect tax (IDT) teams, but the rapid pace of change in global regulations and reporting requirements is turning the humble compliance function into a rapid-fire gauntlet of continuous challenges. In the next two years, more than a dozen countries (e.g.,

Tax 59

Tax Technology corporation tax Government 59

LyfeAccounting

JUNE 9, 2021

But instead of panicking during big price drops, what if we told you that you could actually use these swings to your advantage? All it takes to use this cryptocurrency tax loophole is a click of a button and it works for all cryptocurrencies at the moment. So let’s go back in time to set the scene to help us understand.

Tax 59

Tax tax preparation accounting and finance Sales 59

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide. What is income tax?

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income tax tax return Tax E-commerce 52

Mark Lee

DECEMBER 5, 2023

Many a business coach or management consultant will use a structured approach to win clients who are already working with accountants. This suggests to me a need for accountants to improve their approach to ‘sales’ in line with the recommendations in this blog post. Remember that to ASSUME makes an ASS of U and ME.

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TaxConnex

JANUARY 24, 2023

Shipping is indispensable to eCommerce yet sales tax on it remains a mishmash of regulations across the states. In our previous blog, we looked at how exemptions, the taxability of the item being shipped and selling into tax-free states affect sales tax on shipping.

Sales 26

Sales Tax South Carolina Massachusetts 26

ThomsonReuters

AUGUST 24, 2021

To build a persuasive business case for sales tax software , professionals need to explain how automating certain tax functions and improving reporting and analysis will benefit the company as a whole. In other words, don’t tell your CEO why tax software is a wise investment – show them.

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Technology Sales Tax audit 52

ThomsonReuters

NOVEMBER 15, 2021

Corporate tax teams responsible for collecting, managing, and paying indirect taxes face numerous challenges in today’s fractious tax landscape. For all too many managers, their days are filled with the stress of keeping pace with various changes in the indirect tax space. Indirect taxes: Much more than just a process.

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E-commerce Technology Tax corporation tax 52