TaxConnex

AUGUST 4, 2022

We talk a lot about nexus and compliance processes in our content, but what about marketplace facilitators? In this blog we answer your top questions about marketplace facilitators. What is a marketplace facilitator? This produced a gap in tax collection. What are the details of marketplace facilitator laws?

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ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. What does this mean for my firm? The penalty increases as the pay ratio widens.

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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.

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TaxConnex

MAY 27, 2021

Taking advantage of sales and use tax exemptions can save your business money and headaches. In general, exemptions are statutory exceptions eliminating the need for the retailer or business to collect sales tax on a particular transaction or on all transactions with a customer.

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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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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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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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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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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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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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ThomsonReuters

AUGUST 25, 2023

Jump to: How does depreciation affect corporation taxes? What is the purpose of making a provision for depreciation? 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.

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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.

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ThomsonReuters

AUGUST 9, 2022

Effective July 1, 2022, as required by the Infrastructure Investment and Jobs Act (IIJA) passed last November, the Internal Revenue Service (IRS) has reinstated the Superfund Chemical Excise Tax on a wide range of chemicals and substances. What is the purpose of the Superfund Chemical Excise Taxes? Are exporters being taxed?

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Xero

AUGUST 21, 2023

This year’s US Roadshows were nothing short of inspiring, with accounting, bookkeeping and app partners showing up from all over the country to attend our events in Austin, Atlanta and Los Angeles. At the event, we shared a first look of what the new experience will look like. Here are a few of the highlights.

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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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Xero

JANUARY 29, 2024

We’ve had two versions of our invoicing feature for a while now — classic invoicing and new invoicing. The new version is built on the latest technology and features time-saving tools that make it easier to customise your invoices and simplify the way you get paid. Just click the ‘switch to new version’ button in classic invoicing.

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CPA Practice

NOVEMBER 14, 2023

13-15, more than 2,500 accountants learned about many new product and feature innovations that will help them serve their clients through the QuickBooks Online ecosystem. Together, we’re unlocking new ways to power prosperity.” Together, we’re unlocking new ways to power prosperity.” Learn more about QuickBooks Ledger.

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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?

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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.

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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. In this article, we’ll answer all your questions so you can have a better picture of what it’s like — to start your own small business with Shopify. How to add a blog to your Shopify store?

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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. If your business is registered for GST, you’ll have a number of deadlines to meet during the new year to file and pay GST. New Zealand’s Inland Revenue sets a GST due date for each month.

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Xero

AUGUST 7, 2023

Whether you’re looking for tools to chase invoice payments, simplify tax compliance, or make job management easier, you’ll find plenty of solutions to help solve those key business challenges. Xero customers who accept GoCardless payments on Xero online invoices get paid up to twice as fast than those who don’t use online invoice payments.

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ThomsonReuters

DECEMBER 19, 2023

Jump to: What environmental tax breaks are available? What is Form 5695? What is Form 843? What is Form 6627? What environmental tax breaks are available?  Biodiesel and Renewable Diesel Tax Credits: Credits for the production and use of biodiesel and renewable diesel fuels.

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Tax income tax tax return Manufacturing 52

ThomsonReuters

JULY 6, 2023

From financial planner to investment banker to business analyst, there are many roles to consider if you find yourself looking for something new. From financial planner to investment banker to business analyst, there are many roles to consider if you find yourself looking for something new. What career can an accountant switch to?

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Snyder

OCTOBER 27, 2022

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? What is Standalone PayPal? What are Etsy Payments and how do they work? Listing fees.

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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).

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ThomsonReuters

MAY 5, 2022

Each year, tax time is an opportunity to expand your accounting firm’s client base. That is a question firms should consider as they reflect on the tax season. Leading up to tax time, there are potential clients ranging from individuals to major corporations who may be on the hunt for a new tax preparer.

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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?

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income tax Tax Legal tax return 75

ThomsonReuters

JULY 6, 2023

What are business advisory services? Business advisory services capitalize on the unique insight of accounting firms to make a profitable shift from serving clients as a once-a-year tax compliance processor to a year-round strategic business advisor. Today, technology can automate the entire tax compliance workflow.

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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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Inform Accounting

JULY 25, 2023

The main residence exemption applies for capital gains tax purposes to the extent that a property is used as the taxpayer’s only or main residence. Where a property is used partly for business and partly as a residence, the relief only applies to that part which is used as a residence.

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xendoo

DECEMBER 6, 2021

Between skyrocketing holiday sales, extended hours, and juggling multiple duties, it can be difficult to find a moment to stop and think about preparing for 2022. . What metrics can be used to predict and measure success? What steps can be taken to effectively prepare your business for the new year? .

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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.

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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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CTP

JULY 27, 2023

Profiting off your investments while also reducing your tax bill is a delicate balancing act. The more you learn about tax reduction strategies, the clearer it becomes that timing is essential to keeping taxes low. In this blog, we’ll cover two strategies that can turn a downfall into a win: loss harvesting and loss carryovers.

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Inform Accounting

AUGUST 30, 2022

If you own property there are a number of tax implications which you need to be aware of. Timing of Capital Gains Tax Reporting. Since 6 April 2020, any gain on a residential property where CGT is due must be reported and the CGT paid within 60 days of the sale by using the online property disposal return.

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tax return Tax Maine Sales 52

Cheap Accounting

AUGUST 31, 2023

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. What taxes will I pay? Tax is paid on profits (income less allowable costs) from your business. Entering the world of self employment and being your own boss is extremely exciting.

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