TaxConnex

JUNE 6, 2023

It also offers complex sales tax obligations you may not know about. If you sell in Europe, you know about the value-added tax (VAT) on online sales, which is applied at each stage of the supply chain and with rates generally applied at a country level and exceptions on certain products. has taxes on sales too – a lot of them.

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CPA Practice

JANUARY 12, 2024

By Matt Hamilton, Los Angeles Times (TNS) Hunter Biden, the son of President Joe Biden, pleaded not guilty Thursday in downtown Los Angeles on federal tax charges—one of two criminal cases filed after the collapse of a plea deal that would have averted trial during the 2024 campaign season. The tax case in L.A.

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CPA Practice

DECEMBER 11, 2023

By Matt Hamilton, Los Angeles Times (TNS) Hunter Biden, the president’s son, was indicted Thursday in Los Angeles on several federal tax charges, marking the start of a second criminal case that will proceed during his father’s reelection campaign. attorney in Delaware, as special counsel.

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inDinero Tax Tips

JANUARY 16, 2024

Due dates for business taxes can change from year to year based on a variety of factors, including weekends and federal holidays. So, if you’re wondering when are taxes due in 2024, you’re asking the right question at the right time. They represent the filing deadline, the final day for submitting your business tax returns.

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PYMNTS

JANUARY 10, 2018

Stripe has announced an addition to its Stripe Atlas toolkit that will help founders file their corporate tax returns in minutes. This new tool can be especially important for resource-strapped startups, which often have difficulty with the tax process even with the help of an adviser. In addition, the recent U.S.

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CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

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CPA Practice

APRIL 19, 2023

By Evan Rosen, New York Daily News (TNS) The White House released President Biden’s tax returns on Tuesday, showing he and the first lady recorded an income of about $580,000 in 2022, just below their total from 2021. The release came Tuesday, the deadline for Americans to file their taxes with the IRS. for the first couple.

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Shay CPA

DECEMBER 7, 2022

Before you shut down your tech company, you need to take some final tax steps. . We’ve seen founders left holding the bag in resolving tax issues, even years after they thought they had closed their companies. Sales tax accounts. State franchise and income tax accounts. You’re not there yet, though. Workers’ compensation.

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CPA Practice

JUNE 22, 2023

The committee also approved the release of a transcript of the private session, which was held because the documents included taxpayer information protected under section 6103 of the tax code. Shapley first contacted the House Ways and Means and Senate Finance panels in April, and in May testimony, told the committee that the Delaware U.S.

Delaware 98

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Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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CPA Practice

JUNE 26, 2023

on July 1, after the sixth largest accounting firm in the nation by revenue officially changes from its current partnership structure to a professional services corporation based in Delaware. Even though partnerships aren’t taxed, they must file a tax return each year unless the partnership has no income or expenses.

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CPA Practice

APRIL 10, 2023

Still, whatever discomfort I experience when booking a room has nothing on what lodging platforms have to endure to comply with the multitude of lodging tax requirements in the United States. We talk a lot about how complicated sales tax compliance is at the Avalara Tax Desk, and it is. Sometimes you just have to go with it.

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Shay CPA

FEBRUARY 28, 2024

Don’t shoot the messenger: it’s time to do your taxes. Very few founders enjoy doing their taxes. If that sounds good, follow these steps to get your books ready for your 2024 tax filings. #1: While you’re putting some energy into gathering up the documents you need, grab a copy of your 2022 tax returns.

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ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

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CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

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CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

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KROST

MAY 11, 2021

This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue , titled “There are several tax incentives available to the real estate industry. Whether you invest in, build, design, or make significant renovations to real estate, a closer look at these opportunities could increase cash flow and/or reduce tax burden.”

Real Estate 52

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Shay CPA

FEBRUARY 15, 2023

Don’t shoot the messenger: it’s time to do your taxes. Very few founders enjoy doing their taxes. If that sounds good, follow these steps to get your books ready for your 2022 tax filings. #1: While you’re putting some energy into gathering up the documents you need, grab a copy of your 2021 tax returns.

Tax 52

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Going Concern

JULY 8, 2022

Plus, Pennsylvania accountant loves tax evasion, North Carolina CPA indicted on securities fraud charge, and Kentucky accountant gets jail time for sex trafficking. Hammer, who pleaded guilty in August 2018 to one count of filing a false tax return, was the financial officer for various companies controlled by Michael D.

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ThomsonReuters

DECEMBER 17, 2021

In 2022, tax authorities around the world hope to finalize the myriad details that will shape a Global Minimum Tax on multinational corporations — if they can reach consensus and make it happen. Reuters noted that this is “an extremely tight timeframe given that previous international tax deals took years to implement.”.

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CPA Practice

MAY 17, 2023

The property tax life cycle is a complex beast, and taming it can be both frustrating and time-consuming. Take business personal property renditions, also known as personal property returns. Did you know that businesses typically spend an average of 132 hours per week on various personal property tax compliance tasks ?

South Dakota 105

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Shay CPA

DECEMBER 2, 2022

Founders – check out our tips below that can save your Startup thousands of dollars in Income Taxes, Payroll Taxes, Sales Taxes, and foreign taxes. . R&D Tax Credits: Did you know that if your startup conducts R&D activities it can qualify for up to $500,000 in Payroll Tax Credits?

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Shay CPA

DECEMBER 27, 2023

Fortunately, as specialists in tech company tax compliance, we can guide you through what you need to know. Submit your final tax filings Some states (including Delaware) require you to get fully paid up on your taxes before you can dissolve your corporation. Acting fast might save you from being subject to 2024 taxes.

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LyfeAccounting

JULY 23, 2021

The 1031 exchange specifically comes from Section 1031 in the Internal Revenue Code, and it allows real estate investors to defer paying taxes on real estate gains. This means, you can avoid the biggest expense of them all, which are taxes, and instead use that money to reinvest and make even more money. Example of a 1031 Exchange.

Real Estate 52

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inDinero Tax Tips

MARCH 13, 2023

Your profits have increased steadily over the years, and so has your self-employment tax bill. An LLC’s profits and losses pass straight through to the owners and are taxed as part of their income. In contrast, the profits you earn in an S corp are taxed separately. What is an S Corp?

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inDinero Tax Tips

MARCH 13, 2023

Your profits have increased steadily over the years, and so has your self-employment tax bill. An LLC’s profits and losses pass straight through to the owners and are taxed as part of their income. In contrast, the profits you earn in an S corp are taxed separately. What is an S Corp?

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KROST

MARCH 16, 2021

citizens and business to get over this devastating pandemic, the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) was enacted in March 2020, providing many tax provisions that favor taxpayers. To help stimulate the economy and U.S. Background. Bonus Depreciation. To help taxpayers implement the change, the IRS released Rev.

Real Estate 52

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KROST

JANUARY 13, 2021

In 2017, the Tax Cuts and Jobs Act (TCJA) amended Internal Revenue Code (IRC) Section 1031 to limit nonrecognition treatment to exchanges of real property for 1031 Exchanges completed after December 31, 2017. Federal vs. State. New Provision to the Proposed Regulations. Read the full Real Estate Issue ».

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ThomsonReuters

JUNE 15, 2022

In the middle of a busy legislative season, several states have made important changes in their tax code that practitioners across the nation will want to be aware of in order to service clients who may have multistate needs. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. Delaware Relief Rebate Program.

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ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? What is indirect tax? Direct tax and indirect tax. The differences between direct tax and indirect tax are important to understand. The differences between direct tax and indirect tax are important to understand. Direct tax is progressive in nature.

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ThomsonReuters

JUNE 11, 2024

Employers and payroll professionals face a complex web of challenges while managing remote and hybrid work arrangements, particularly concerning state income tax withholding and compliance with varying state labor laws. Wylam added that these additional tax jurisdiction concerns can also occur at the local level.

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ThomsonReuters

APRIL 12, 2021

In a new episode of the Tax & Tech Talks podcast series, experts from KPMG and Thomson Reuters discuss how companies are turning to automation and analytics software to stay ahead of changes buffeting indirect tax management. _. Greater government scrutiny: Aggressive indirect tax audits are expected as soon as this year.

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ThomsonReuters

JUNE 14, 2021

The guidance is aimed at helping multi-state employers determine to which state wages should be reported and unemployment taxes paid. Being familiar with the DOL’s “localization of work” provisions may be helpful to employers that want to make sure wages are reported and unemployment taxes are paid to the correct state.

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ThomsonReuters

MARCH 1, 2021

Also, certain Forms 1099 must be filed by March 1, 2021 – except new tax year 2020 Form 1099-NEC for nonemployee compensation, which had a due date of February 1, 2021 (typically January 31, but it fell on a weekend). Unemployment tax rates increasing in 2021. Unemployment tax relief. IRS forms and publications. 2021, H65].

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