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Refunds and sales tax

TaxConnex

Its a safe bet that few of them hit the target, which leads to returns, which leads to refunds from sellers, to which leads to the nagging question: Does sales tax get refunded along with the purchase price? The more accurate answer, particularly when something as complex as sales tax gets involved, is: Probably, but watch the details.

Sales 147
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Sales tax and streaming services

TaxConnex

That could be a lot of sales tax revenue. Definition “Streaming services” comprises a range of digital products, at least for tax purposes. Some states have narrow definitions for sales tax purposes; others have broader ones. The delivery method can also affect sales tax. Streaming is no exception.

Sales 147
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BerryDunn Joins Forces With Burzenski & Co. in Connecticut

CPA Practice

Top 50 accounting firm BerryDunn has merged with Connecticut-based accounting, tax, and advisory firm Burzenski & Co., Founded in 1974, Portland, ME-based BerryDunn provides assurance, tax, and consulting services to businesses, nonprofits, and government agencies throughout the U.S. effective Dec. and its territories.

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Connecticut R&D Tax Credits

Withum

The Research and Development (“R&D”) Tax Credit is a tax incentive that can be applied as a dollar-for-dollar offset against a company’s tax liability if they are engaging in activities related to the design and development of a product, process, formula, invention, software, or technique within the United States.

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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

PwC accused of interfering in Australian tax leaks probe [ Financial Times ] PwC has been accused of interfering in Australia’s political and regulatory affairs after documents revealed the Big Four accounting group warned its local firm against co-operating with investigations into a damaging tax leaks scandal without permission.

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Management Company Series: Tax Planning to Reduce Taxable Income

Withum

As a business owner or managing member, navigating the complexities of tax obligations is inevitable. Questions such as “How much tax do I have to pay?” ” and “Are there ways to reduce tax liability?” States offering this option include California, Connecticut, Illinois, New Jersey, and New York.

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Sales tax holidays for the rest of the year

TaxConnex

Your compliance obligations are tough enough given the almost dizzying variety of rates, filing frequencies and other seemingly random details of the states that have a sales tax. One of those biggest details you sure can’t ignore: sales tax holidays. Here’s an overview: General: Massachusetts (most TPP up to $2,500 per item) Aug.