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Tax Savings for Accountants with Gambling Clients

CTP

American gaming has boomed since sports betting and online gambling were legalized. Their main game is usually poker, table games, or sports betting. Amateurs may study betting games or investigate sports and athletes to improve their sports bets. Groetzinger , a 1987 Supreme Court ruling, defined professional gaming.

Gambling 105
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Charging sales tax based on an IP address

TaxConnex

But in light of the 2018 Wayfair decision and an expanded definition of nexus, more of these businesses are now subject to sales and use tax collection on these services, including but not limited to software delivered electronically, “software as a service” (SaaS), cloud-based solutions, VoIP, streaming media and some gaming apps.

Sales 130
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The Digital Evolution Of The Online Gaming Ecosystem

PYMNTS

RotoGrinders is a website that provides the DFS community with various bits of data, including game-specific weather forecasts. About five million were placed online via fantasy gaming sites, and the remaining 16 million or so were part of office pools and other smaller-scale, friendly wager arrangements.

Gaming 53
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DEA May Reclassify Cannabis as Lower Level Drug

CPA Practice

Ben Zachs, president of Fine Fettle, a marijuana dispensary in Connecticut, called the news “exciting.” Connecticut attorney Alex Taubes, who is representing Joe Accettullo and Cody Roberts, who have been accused of running illegal cannabis “gifting parties,” said it could impact both civil and criminal cannabis cases.

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2024 Guide to State Sales Tax Holidays

CPA Practice

For example, Florida offered temporary sales tax exemptions for admissions, camping supplies, fishing supplies, outdoor recreation supplies, and tools in 2022 and 2023; Connecticut and Tennessee temporarily exempted restaurant food in 2022; and numerous states had gas tax holidays in 2022 and/or 2023. the following Sunday.

Sales 119
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The Benefits of Delayed Business Filings

CPA Practice

Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. Here’s what’s involved in a delayed filing so you can advise your clients on their options. Your clients may want to delay the incorporation process until the new year for several good reasons.

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2024 State-by-State List of Sales Tax Holidays

CPA Practice

For example, Florida offered temporary sales tax exemptions for admissions, camping supplies, fishing supplies, outdoor recreation supplies, and tools in 2022 and 2023; Connecticut and Tennessee temporarily exempted restaurant food in 2022; and numerous states had gas tax holidays in 2022 and/or 2023. and end at midnight.

Sales 78