TaxConnex

FEBRUARY 13, 2024

To help financial leaders better understand what their peers are doing when it comes to sales and use tax in 2024, TaxConnex® conducted its fourth annual sales tax survey in November of 2023. If you’re struggling with how to manage sales tax in 2024, consider outsourcing. Their responses are included in the following blog.

Sales 206

Sales Tax audit CPA 206

TaxConnex

AUGUST 15, 2023

There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

Sales 130

Sales Tax Alabama Texas 130

TaxConnex

FEBRUARY 27, 2024

Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant.

Sales 219

Sales Tax Account accountant 219

CPA Practice

JANUARY 17, 2023

State CPA Society Ne ws is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. Massachusetts: The Massachusetts Society of CPAs (MASSCPAs) wants members to prioritize their health this tax season. Opposing sales tax on professional services.

CPA 124

CPA Pennsylvania Tennessee Nevada 124

TaxConnex

NOVEMBER 15, 2022

One of these new areas, is often sales tax. This is the sales and use tax. Typically, your clients already consider you to be their expert in all things tax,” Friedlich told his audience of CPAs and other tax pros. Sales tax has only increased in complexity eCommerce businesses since. Tax Code and the IRS). No worries?

accounting firms 130

accounting firms Sales Tax Account 130

TaxConnex

NOVEMBER 22, 2022

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. Mark Friedlich, CPA, vice president of U.S. Mark Friedlich, CPA, vice president of U.S. Compare the state income tax return filings to the state sales tax filings.

accounting firms 130

accounting firms Sales Tax tax return 130

Summit CPA

FEBRUARY 22, 2024

Virtual CPA Success Show Podcast Episode 111 Jody and Jamie welcome author and business advisor, Diane Helbig. Diane shares her expertise in sales, emphasizing the need for a shift from traditional sales techniques to a more comfortable, trust-building approach.

Sales 105

Sales CPA 105

TaxConnex

MARCH 1, 2022

But does tax preparation incur sales taxes – and if it does, where and how? Tax preparers are generally accredited individuals – certified public accountant (CPA) and enrolled agent (EA) are two common preparer designations – who have completed previous and ongoing education to understand compliance for varied tax purposes.

South Dakota 191

South Dakota Sales Tax West Virginia 191

RogerRossmeisl

DECEMBER 28, 2020

If so, it’s important to avoid wash sales if selling stock by year-end. IRS may disallow the loss Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities back within the 30-day period before or after the sale date, the loss can’t be claimed for tax purposes. If you participate.

Sales 246

Sales CPA Tax 246

TaxConnex

MAY 16, 2023

As you are likely aware, managing your sales and use tax obligations is not a small task. For many companies, investing in the legal, tax, and accounting expertise of outside consulting experts with a proven track record is a good option for sales and use tax compliance.

Sales 130

Sales Tax cpa firm CPA 130

TaxConnex

NOVEMBER 21, 2023

But one tricky area that often causes headaches is sales and use tax. Whether you’re managing sales and use tax for your clients or not, you've most likely come across situations where your clients want to sell their businesses, secure outside capital, or ensure they’re not at risk from previous exposure. Change of staff.

cpas 147

cpas Sales Tax audit 147

RogerRossmeisl

NOVEMBER 18, 2021

Before putting your business on the market, it’s important to prepare it for sale. Examples of items that could complicate a sale include underperforming segments, non-operating assets and shareholder loans. Sales are often based on multiples of earnings or earnings before interest, taxes, depreciation and amortization (EBITDA).

Sales 233

Sales CPA Tax cpa firm 233

TaxConnex

NOVEMBER 5, 2020

If your business has an obligation to collect and remit sales tax, then you know how complex the process can be. Whether you manage it all internally, work with a CPA, or use an outsourced provider or technology, you know that there are many moving parts. Let’s first look at the overall sales tax process.

Technology 222

Technology Sales Tax tax return 222

RogerRossmeisl

APRIL 30, 2024

This year, the IRS has received almost 100,000 reports on the sale of electric vehicles. A total of 85,000 time of sale tax reports were filed for new electric vehicles (EVs), and more than 90% of these reports included.

Tax 257

Tax tax return CPA Government 257

Summit CPA

FEBRUARY 8, 2024

Virtual CPA Success Show Podcast Episode 109 Jody and Joey welcome Simon Severino, CEO of Strategy Sprints , to discuss how agencies can create a culture of opportunity that gets every member involved.

Sales 105

Sales CPA 105

TaxConnex

MARCH 21, 2023

The use of internal resources still seems the way to go for most companies struggling to meet their sales tax filing and remittance obligations. Staying on top of the ever-evolving sales tax landscape takes constant time and attention. Many have their own rules regarding sales tax. But for how long? Highly organized.

Sales 130

Sales Tax E-commerce cpas 130

RogerRossmeisl

MAY 31, 2022

There are many rules that can potentially apply to the sale of business property. There are different rules for property held primarily for sale to customers in the ordinary course of business; intellectual property; low-income housing; property that involves farming or livestock; and other types of property.)

Sales 236

Sales Tax CPA business tax 236

TaxConnex

DECEMBER 21, 2021

Staying on top of the ever-evolving sales tax landscape takes constant time and attention. But how does that impact your sales tax compliance and is there a way to lighten the load on your finance teams who may already be feeling the pain of doing more with fewer and fewer resources? What’s ‘Great’ about it?

Sales 174

Sales Tax cpa firm CPA 174

Dent Moses

FEBRUARY 7, 2024

I love to hear about everything: their team, sales, challenges, etc. Specifically, there is a real need for more incoming CPA candidates to replace those retiring and to handle increased demand. CPA exam candidates declined to 67,335 in 2022 – the lowest number in 17 years. Those earning a master’s degree slipped by 6.4%.

CPA 52

CPA cpas cpa firm Education 52

CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? What states have a sales tax holiday in 2024?

Sales 119

Sales Tax Nevada West Virginia 119

CPA Practice

OCTOBER 16, 2023

Rahill, CPA/PFS, JD, LL.M., More recently, a significant rise in interest rates has limited the supply of homes for sale, as homeowners who had locked in low interest rate mortgages don’t want, or can’t afford, to give up those low rates to purchase a new home. surtax on net investment income (NII) on a sale. By Daniel F.

Sales 122

Sales Real Estate Tax tax planning 122

TaxConnex

OCTOBER 4, 2022

So you’ve done the smart thing and determined that your company has sales tax obligations in various states. Now you must collect, file, and remit sales tax in multiple states. You then need to create a billing process to apply tax to your invoice, manage your sales tax-exemption certificates and prepare and file sales tax returns.

Sales 130

Sales Tax tax return Colorado 130

TaxConnex

JANUARY 9, 2024

We are excited to announce the completion of our fourth annual sales tax survey. This year’s results provided insights into how businesses are managing the complexities of sales tax and how they are being impacted by economic and regulatory structures.

Sales 222

Sales Tax Education audit 222

TaxConnex

NOVEMBER 2, 2023

As you are contemplating your clients’ needs and identifying tax planning for them, don’t forget about sales tax planning as well. Both of these changes can directly impact your clients’ sales tax responsibilities. Don’t forget that factors that create sales tax nexus are different from the factors that create income tax nexus.

Sales 193

Sales Tax income tax tax planning 193

TaxConnex

FEBRUARY 10, 2022

In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules. sales tax or use tax). Learn your filing schedule.

Sales 198

Sales Tax E-commerce Alaska 198

TaxConnex

APRIL 4, 2023

You just got notice of a sales tax audit. Ideally, you’ve done your homework and put in place processes to comply in those jurisdictions where you have nexus for sales tax purposes. Wherever you are in your sales tax compliance, these steps will help your audit process run smoother. And not ideally?

audit 130

audit Sales auditor Tax 130

xendoo

OCTOBER 15, 2021

Every business can benefit from the services of a Certified Public Accountant ( CPA ). But Amazon sellers can especially benefit from online CPA services that specialize in the world of eCommerce. . This is partly due to the specialized considerations that go into accounting for online sales. Amazon’s fees.

CPA 90

CPA accrual accounting bookkeeping online accounting 90

Summit CPA

MARCH 5, 2024

I love sales. That’s why I couldn’t agree more with Diane Helbig , internationally recognized business and leadership development advisor, when she says in a recent podcast interview , “Stop selling, because sales doesn’t work” – in the traditional sense of the word, that is. A curiosity-first approach to sales is a win-win.

Sales 97

Sales Education Account accountant 97

TaxConnex

APRIL 20, 2021

And for many accountants and CPA firms, this time of year means extra-long hours and more time spent managing clients’ finances. Either those that they’ve hired internally or the trusted CPA firm they’ve utilized for years. Either those that they’ve hired internally or the trusted CPA firm they’ve utilized for years.

Sales 139

Sales Tax tax return income tax 139

TaxConnex

JANUARY 10, 2023

We have completed our third annual survey of top financial professionals on how they are managing sales tax. The nationwide survey, conducted by In90Group in October of 2022, is composed of responses from 100 top finance professionals in a variety of industries regarding their thoughts and experiences in managing sales tax.

Sales 179

Sales Tax audit Finance 179

TaxConnex

NOVEMBER 19, 2020

When it comes to managing sales tax compliance, for most businesses there are really three ways you can do it. Outsource sales tax compliance. We’ve compiled some of the top questions we get from clients on the risk and liability of sales tax non-compliance. Attempt to manage everything in-house. Do nothing and roll the dice.

Sales 215

Sales Tax audit Legal 215

TaxConnex

SEPTEMBER 15, 2020

Sales tax is complicated. Many sales tax companies will tell you it’s simple with their solution, but when you take a look at all that goes in to compliance – you will understand that no technology can fully automate or manage sales tax without a good bit of project management from your side. Determine Nexus. Registration.

Sales 224

Sales Tax tax consultant cpa firm 224

CPA Practice

APRIL 16, 2024

Retail sales continued to increase in March along with job growth and tax refunds, which put more money in shoppers’ pockets, according to data from the U.S. While sales were mixed, several factors supported retail sales including an early Easter holiday, slightly larger 2023 tax refunds and stronger payroll growth over the last three months.

Sales 119

Sales Retail payroll Tax 119

CPA Practice

APRIL 12, 2024

Retail sales grew at a steady pace in March, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions, released today by the National Retail Federation. “As For the first quarter, total retail sales were up 2.65% year over year and core sales were up 3.12%. That compared with increases of 0.4%

Sales 105

Sales Retail Sports 105

TaxConnex

SEPTEMBER 24, 2020

At this point, the majority of finance professionals understand the need to maintain sales & use tax compliance. Or you acquire a business that has done very little to manage sales and use tax compliance? Sales tax is meant to be a pass-through tax and thus one that should have minimal impact on a company’s bottom line.

Sales 243

Sales Tax Start-ups audit 243

TaxConnex

JANUARY 19, 2021

Picking the right provider to handle your business’s sales and use tax compliance is a big decision. Many businesses are already working with an outsourced sales tax provider but are not completely satisfied. If you feel you could do better with a new sales tax compliance provider, you’re not alone. Dissatisfaction the norm?

Sales 166

Sales Tax cpa firm audit 166