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Accounting firms and sales and use tax advising: Perfect together?

TaxConnex

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. How can they go about making the move? Another cost-effective approach to adding sales and use tax advisory services: partnering with sales and use tax experts.

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Tax planning strategies to start the new year with

ThomsonReuters

Jump to: Utilize short-term staffing solutions Incorporate AI and automation into your workflow Become a strategic advisor As accounting firms usher in 2024, it’s important to take a fresh look at the business landscape — both its challenges and its opportunities — to best prepare for the year ahead.

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Managing stress for tax professionals

ThomsonReuters

Delegate or outsource where you can 4. Take advantage of wellness benefits The numbers are in, and they reinforce the mental health challenges facing accountants. Long hours and heavy workloads are nothing new for many accounting professionals. Here are some tips for helping accountants to reduce and manage stress: 1.

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Managing busy season with a shortage of accountants

ThomsonReuters

Jump to: Automation, AI Technology: A Time and Resource Saver Outsourcing: Scale your business and reduce your costs A flexible work model: Expand your talent pool and gain a competitive edge How to handle the shortage of staff in your accounting department Recent trends have only amplified this challenge.

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Sales Tax Compliance: Automated Returns or Service Provider?

TaxConnex

And for many accountants and CPA firms, this time of year means extra-long hours and more time spent managing clients’ finances. This includes understanding your ongoing nexus footprint (it’s not always static) and determining the taxability of your products and services when states are continually adjusting their laws.

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Year-end tax planning strategies: How to set your accounting firm up for success

ThomsonReuters

In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Many firms are shifting their hunt for talent beyond the traditional accounting background. Outsourcing is a viable option for firms who need a temporary boost in bandwidth.

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6 (Not So) Simple Steps to Sales Tax Compliance

TaxConnex

In this blog , we’ll take a look at the 6 steps to compliance and some of the complexities that go with them. Without nexus, you have no further obligation to a state, but if nexus does exist, you ’ll need to do some additional work. Similarly, services are generally exempt unless stated otherwise. Determine Nexus.

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