TaxConnex

SEPTEMBER 15, 2022

If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. Rightly so: Sales tax audits can find fault with a variety of your operations and can cost you big– if the determination goes against you. Neglecting ‘zero-due’ filings. Not assessing nexus.

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audit Sales Tax auditor 163

Nancy McClelland, LLC

APRIL 11, 2023

It’s that time again… Tax Day is upon us and millions of taxpayers will need to have their returns extended for various reasons. The AICPA has released a “Tax Extension FAQ” for CPA members to share with their clients. This extends the due date for submitting your individual return to October 15. • What does this mean?

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Tax tax return CPA Illinois 98

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.

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Sales Tax tax return income tax 139

ThomsonReuters

JULY 10, 2023

Jump to: What is use tax? 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? How does use tax work? What is nexus?

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Tax Massachusetts Washington South Dakota 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. What is sales tax?

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Tax Sales Arizona Georgia 97

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? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

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Sales Tax Michigan Washington 98

Accounting Insight

JANUARY 5, 2024

Despite how common VAT is, the tax is difficult at the best of times to understand. Knowing who pays VAT – the buyer or the seller – is straightforward, though, if you take the time to learn about the tax or have help. With this specific blog, we explain who collects VAT and what governments expect of businesses. What’s GST?

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audit Tax Maine Government 52