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What’s new in sales tax?

TaxConnex

This applies to delivery charges that are separately stated on the invoice, bill of sale or other documentation given to the purchaser and includes, but is not limited to, transportation, shipping, postage, handling, crating and packing. Ohio’s sales tax exemptions set to take effect from Oct. Income we trust.

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Major Changes to New York’s SALT Workaround as Part of FY23 Budget Bill

Withum

A full credit similar to the New York PTET is available on the owner level to offset against their personal income tax. As a final note, the New York City PTET is on top of, but does not replace the New York City Unincorporated Business Tax (“UBT”) imposed on partnerships or General Corporation Tax (“GCT”) imposed on S corporations.

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20 Essential Tax Facts for Small Business Owners

Ronika Khanna CPA,CA

Rent, Utilities, Insurance, property taxes incurred for office for factory space Office supplies, postage, courier costs Conference expenses including travel , business trips etc. This form can be found in most online tax filing software including Ufile and TurboTax. Corporations are required to file a separate corporate tax return.

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Friday Footnotes: Staffing Disasters; Let’s Rag on EY; A Warning For Tax Practitioners | 4.14.23

Going Concern

The firm had a contract to perform the 2022 year-end audit for $26,135, but in order to complete it, the CPAs had to spend a lot of time doing extra accounting work that the previous town employees had failed to do, it was stated. At a February meeting, CPA Paul Johnson explained the reasons for the increase.

Tax 102
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Some States Are Considering Shelving the Grocery Tax

CPA Practice

Almost all states have seen their budget surpluses grow in the past two years, thanks to federal COVID-19 relief funds and increasing corporate tax revenues as the economy recovers from the pandemic. Cutting or eliminating the grocery tax is expensive to the states. Efforts failed in several other states.

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