ThomsonReuters

JULY 18, 2025

Disposable income and consumer spending By raising the SALT cap, more taxpayers will see increased federal tax savings, which could boost disposable income and potentially stimulate local economies. This could lead to modest increases in sales tax revenue and consumer activity, particularly in high-tax states.

New Jersey 52

New Jersey Tax New York California 52

ThomsonReuters

JUNE 18, 2025

However, the Tax Cuts and Jobs Act introduced a cap on this deduction. The $10,000 cap applies to the combined total of state and local taxes, encompassing property, income, and sales taxes. For residents, it means reduced federal tax savings, which can lead to a higher overall tax burden.

income tax 91

income tax New Jersey New York California 91

SkagitCountyTaxServices

JUNE 4, 2025

Project completions, client satisfaction scores, sales conversions, turnaround times defining what success looks like is key. Tackle the right problems with smart strategies, and you wont just stay afloat youll build a remote business that actually grows. Another layer of complexity that comes with running a business from home?

payroll 92

payroll quickbooks CPA Tax 92

RogerRossmeisl

OCTOBER 13, 2024

With long-term tax, liability and estate planning advantages, separating real estate ownership from the business may be a wise choice. How taxes affect a sale Businesses that are formed as C corporations treat real estate assets as they do equipment, inventory and other business assets.

Real Estate 259

Real Estate CPA Tax Sales 259

Withum

DECEMBER 4, 2024

An exception from the limitation on the business interest deductions is also provided for floor plan financing (i.e., financing for the acquisition of motor vehicles, boats, or farm machinery for sale or lease and secured by such inventory). sale) of select clean energy credits to an unrelated party for cash under section 6418.

Tax 105

Tax income tax Construction Non-Profits 105

Shay CPA

JUNE 25, 2025

In this post, we’ll walk you through the steps to change your business address with the IRS and cover the notifications you’ll need to make with other important entities such as state agencies, payroll services, sales tax agencies, banks, insurance providers, and more. We’ll also delve into the nuances of using a P.O.

CPA 52

CPA payroll Legal tax return 52

Withum

JULY 15, 2025

.” To most, this change is immaterial; to partnership tax practitioners, it’s anything but. In practice, this created a technical, though defensible, position: since Treasury never issued final regulations under certain aspects of this provision, then the disguised sale rule is not operative. This left a perceived gap.

tax planning 72

tax planning Tax Sales New York 72

ThomsonReuters

NOVEMBER 7, 2024

Technologically speaking, this journey typically involves organizing a company’s business operations around a cloud-based Enterprise Resource Planning (ERP) platform through which various software tools for the company’s core functions—e.g., finance, tax, e-commerce, sales, marketing, human resources—are integrated and run.

Tax 52

Tax Technology E-commerce accounting and finance 52

CPA Practice

JUNE 18, 2025

The Senate bill is a step in the right direction as it no longer discriminates against SSTBs; however, it does not create parity between pass-throughs and corporations.

Tax 87

Tax Technology income tax payroll 87

CPA Practice

JULY 23, 2025

Twenty-one say it would be helpful if the IRS could stagger individual and business deadlines for tax relief (i.e., separate extended deadlines for filing personal and business taxes and payment) after a national disaster. when there is loss of property to circumstances beyond your control – fire, theft, disaster, etc.).

Technology 52

Technology cpas payroll audit 52

Going Concern

JUNE 19, 2025

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Real Estate 52

Real Estate Tax accounted Account 52

Accounting Today

JUNE 10, 2025

Why lawmakers ought to adopt a simple reform that would raise revenue and make the Districts business tax system fairer. Tax Talk: ( [link] ): OBBBA wont be so beautiful for foreign persons if IRC Section 899 becomes reality. The Sales Tax People ( [link] ): Why isnt sales tax just included in the purchase price of items?

tax preparation 52

tax preparation West Virginia Technology Virginia 52

Going Concern

JANUARY 17, 2025

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Real Estate 52

Real Estate accounted Account accountant 52

Withum

JULY 8, 2025

While there have been many previous proposals to limit the scope of section 1202 , the section of the tax code addressing QSBS, the new law expands the QSBS exclusion in a way that is consistent with the current administration’s pro-growth policies.

Tax 75

Tax Start-ups Manufacturing Government 75

Withum

MAY 8, 2025

QSBS Generally Section 1202 provides a full or partial exclusion of capital gain realized on the sale of QSBS that is held for more than 5 years. For shareholders, nothing needs to be filed with the IRS until QSBS is sold and the shareholder claims an exclusion from gross income on his or her tax return that includes the year of the sale.

Tax 59

Tax tax return audit Sales 59

LSLCPAs

APRIL 8, 2025

When buying or selling a business, taxes play a critical role in determining the financial outcome of the transaction. The way a deal is structuredwhether as a stock sale or an asset salecan significantly impact the tax liabilities for both buyers and sellers.

Tax 52

Tax cpas business tax Sales 52

Going Concern

JUNE 24, 2025

Here’s what PwC said in Phasing out the penny: Preparing for a currency shift without clear rules : At the Streamlined Sales Tax Governing Board meeting held on May 21, 2025, US Treasury Department Assistant Secretary John York shared plans to discontinue penny production due to rising costs and declining utility.

general ledger 59

general ledger Legal Government Sales 59

ThomsonReuters

MAY 27, 2025

In many instances, the ONESOURCE suite can provide all the tools a company needs.

Tax 52

Tax Technology E-commerce corporation tax 52

Withum

JUNE 17, 2025

QSBS Generally Section 1202 provides a full or partial exclusion of capital gain realized on the sale of QSBS that is held for more than five years. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

New Jersey 75

New Jersey Illinois Tax Start-ups 75

CPA Practice

JUNE 23, 2025

Jason Bramwell Taxes June 23, 2025  IRS Refines Pre-Filing Agreement Tax Certainty Program Improvements made to the IRS Pre-Filing Agreement program will provide greater tax certainty for large business and international taxpayers, the agency announced on June 17.

Missouri 93

Missouri Mississippi Technology payroll 93

CPA Practice

JUNE 10, 2025

simplify sales tax calculation and filing. E-commerce software-as-a-service provider SHOPLINE announced June 10 a new integration with Avalara to help merchants selling in the U.S.

E-commerce 52

E-commerce Sales Tax business tax 52

Withum

JULY 16, 2025

The bill includes a variety of tax items that will impact auto dealer business taxes, personal income taxes and estate and gift taxation. This article will highlight the pertinent areas of the OBBBA that will impact auto dealership businesses and owners.

Rhode Island 64

Rhode Island income tax Tax New Hampshire 64

RogerRossmeisl

SEPTEMBER 26, 2021

50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified small business employers. Small Business Tax Credit. The post California Main Street Small Business Tax Credit II Begins 11/1/21 appeared first on Roger Rossmeisl, CPA.

Maine 230

Maine California business tax Tax 230

TaxConnex

JULY 15, 2021

There’s always something changing in the world of tax, especially sales tax. Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales. As of Feb. As of Feb.

Sales 219

Sales Tax Louisiana North Carolina 219

TaxConnex

MARCH 18, 2021

Wayfair created enormous changes for businesses making remote sales into the states related to sales tax. Could Wayfair have also impacted the way you manage your state income tax obligations? Sales Tax Perspective. Sales tax nexus can be physical or economic – or both. Wayfair, Inc.

income tax 165

income tax South Dakota Sales Tax 165

RogerRossmeisl

MAY 31, 2022

There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a year. The net gain or loss qualifies for tax treatment as.

Sales 236

Sales Tax CPA business tax 236

CPA Practice

NOVEMBER 10, 2023

For many small business retailers, managing a point-of-sale (POS) system comes with the territory of owning a store. But, every year, these businesses must also prove that they’ve kept track of sales and are correctly reporting their earnings. Enter the small business accountant. By Eric Thornton.

Sales 100

Sales business tax Tax accounting and finance 100

TaxConnex

JUNE 17, 2021

But as states continue to pass laws legalizing the sale of cannabis, the businesses trying to capitalize on the market are struggling with the complexities of taxation as it differs from other sales. States that have legalized the sale of cannabis are reaping the benefits. Local sales tax rates apply as well.

Legal 225

Legal Illinois Nevada Oregon 225

TaxConnex

AUGUST 9, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax holidays fail to live up to the hype. in favor of conveniently popular yet ultimately ineffective sales tax holidays.”. Several states tinkered with their sales tax exemptions this summer.

Sales 130

Sales Louisiana Iowa Tax 130

TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

Sales 130

Sales Tax Alaska Louisiana 130

Withum

JUNE 8, 2022

The IRS’ “Dirty Dozen ” is an annual list warning taxpayers of abusive tax arrangements, schemes, scams, and shams. To find out more about M453 transactions and why they should be avoided (or if you need help falling asleep), check out my recent article: Monetized Installment Sales: Just Say No. Business Tax Services.

Sales 120

Sales tax services business tax audit 120

xendoo

NOVEMBER 9, 2021

With the year coming to an end, tax return season is just right around the corner. For small businesses, that means being prepared to find all of the small business tax deductions you can to minimize your payout to the IRS. . When filing taxes, knowing the deadlines is an essential part of being organized and prepared.

business tax 98

business tax Tax tax preparation tax return 98

KROST

OCTOBER 21, 2021

In Late September 2021 Governor Newsome signed Assembly Bill (AB) 150 establishing the Main Street Small Business Tax Credit II. This bill provides financial relief to qualified small businesses for the economic disruptions in 2020 and 2021, resulting in unprecedented job losses.

Maine 91

Maine California business tax Tax 91

Withum

JUNE 1, 2022

That is true, LIFO and FIFO are not reality, but an agreed-upon method of how a business will calculate their Cost of Goods Sold (“COGS”). Utilizing LIFO when costs are rising due to inflation is generally advantageous for income tax purposes because sales prices are offset by higher inflated purchase costs. Potentially.

business tax 119

business tax Tax income tax tax return 119

xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . Business insurance .

business tax 97

business tax Tax Education Entertainment 97

SkagitCountyTaxServices

AUGUST 19, 2022

Though that said, there does seem to be some easing on both of these fronts – and not necessarily because of the “Inflation Reduction Act” (more on that and business tax deductions in a minute). It can be difficult to see your way through it all and keep your business afloat. Business Tax Deductions: Meals and mileage.

business tax 97

business tax Tax Real Estate CPA 97

xendoo

MARCH 4, 2022

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? Ecommerce business owners have some degree of flexibility that physical storefronts cannot afford. Recording sales is a big part of that. How do you record sales in accounting?

Sales 105

Sales bookkeeping accounted Account 105