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Startups can face serious penalties for failing to comply with state sales tax laws. If you’ve fallen behind, help is available. The post Sales Tax Compliance: Steps for Startups appeared first on Burkland.
Staying on top of your sales tax obligations is crucial to maintaining compliance and avoiding costly penalties. However, navigating the complex world of sales tax filing is a lot for a business to manage without the right expertise. Fortunately, there are options outside of managing sales tax on your own, but it leaves you with a choice - sales tax software or service provider?
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By Sonia Dumas. As a tax and accounting professional, you will encounter clients who require guidance regarding investing in cryptocurrencies and digital assets. Here are some best practices to follow when advising clients involved in cryptocurrencies. Understand the liabilities and limitations Crypto investment is risky. Therefore, the foremost responsibility is to make your clients aware of the limitations and liabilities of investing or trading in cryptos.
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In this eighth episode of Cherry Bekaert’s podcast series on Contractor Business Systems, Brendan Halloran , a Senior Manager in Cherry Bekaert’s Government Contracting Industry practice who was previously a Divisional Administrative Contracting Officer (DACO) at the Defense Contract Management Agency (DCMA), is joined by Roy Rushing , a Manager in the Firm’s GovCon practice and a former Contracting Officer with various federal agencies, to talk about navigating Contractor Business Systems a
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In the past year, there have been notable transformations in the compliance sector. The financial services industry has experienced increased regulatory oversight, resulting in regulators imposing unprecedented fines on firms in 2022. As a result, companies are facing significant difficulties in adhering to compliance regulations due to the immense pressure to meet the ever-changing standards.
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A new penalty regime was introduced for VAT from 1 January 2023. The new regime comprises late submission penalties and late payment penalties. Here we look at the penalty regime for late returns. Late VAT returns The late submission penalty regime kicks in whenever a VAT return is filed late. It applies regardless of whether VAT is owed to HMRC or whether the business is reclaiming VAT back from HMRC.
Following a long cycle of economic prosperity and low-interest rates, lenders are facing new challenges, from the accelerated shift to remote work to the unprecedented speed of rising interest rates and high inflation. Lower office occupancy rates, higher costs of borrowing and inflation will affect future property valuations, borrower cash flow and customer demand.
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