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You’ve learned what states you have nexus in and you know where your products/services are taxable. Now it’s time to register with the states to collect and remit sales tax. Where to begin? You complete your sales tax registrations and file them with the departments of revenue or taxation in each state. These registrations are called sales tax permits, sometimes licenses.
Tax Planning Checklist for New Law Firm Partners Understanding the intricacies of tax planning is essential for optimizing your financial position and ensuring compliance with relevant regulations. Utilize this Tax Planning Checklist to help navigate the complex landscape and maximize your tax benefits. Download The post From Associate to Partner: How Do Lawyers’ Taxes Change?
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Many accountants begin as solopreneurs but eventually want a reliable team. So, how can you make this transition smoothly without overwhelming yourself or your clients? On a recent Grow & Scale webinar, I spoke with Nicole Davis, CPA , who went through this process building her firm, Butler-Davis Tax & Accounting. She shared strategies with our audience that helped her go from solo to having a team.
Close to a thousand taxpayers who earn over $1 million a year failed to file tax returns over multiple recent years, potentially owing $34 billion in taxes, according to IRS data.
“Like oxygen, audit quality may not be fully appreciated when it is present, but I think you can definitely tell when it’s missing.” That’s what George Botic said to attendees of the AICPA & CIMA Conference on Current SEC and PCAOB Developments in January , a get together sort of like Burning Man for auditors except without the psychedelics and skimpy costumes.
“Like oxygen, audit quality may not be fully appreciated when it is present, but I think you can definitely tell when it’s missing.” That’s what George Botic said to attendees of the AICPA & CIMA Conference on Current SEC and PCAOB Developments in January , a get together sort of like Burning Man for auditors except without the psychedelics and skimpy costumes.
A federal jury sitting in Atlanta has convicted Jack Fisher and James Sinnott of conspiracy to defraud the United States, conspiracy to commit wire fraud, aiding and assisting the filing of false tax returns and subscribing to false tax returns. Fisher was also convicted of money laundering. The convictions stem from Fisher and Sinnott’s fraudulent tax shelter scheme involving syndicated conservation easements dating back nearly two decades.
There’s just one week to go to get your applications in for the Xero Beautiful Business Fund! Applications are closing Friday, 6 October 2023 at 5:00 pm local time in your country (AEST, NZDT, BST, PDT, SAST or SGT). A huge thank you to all of those who’ve already applied, and those that have shared news of the fund through your networks. First time hearing of the Xero Beautiful Business Fund ?
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
To kick off this year's series of Entrepreneurs' Organization (EO) events, ADC Business Development Representative, Shawn Marcum, attended EO Alchemy in Seattle, WA last week.
The September issue of the Regulatory Compliance Digest features a summary of the latest updates including FDIC’s 2023 Risk Review, FFIEC releases Census Flat Files and updates to the BSA/AML Examination Manual, OFAC’s Web Series Launched, CFPB Filing Instructions Guide for Small Businesses and more. The Regulatory Compliance Digest is intended to keep you informed of regulatory changes in advance of their effective date so your institution can evaluate changes or updates to necessary policies,
When starting your new Canadian small business or launching into self employment, it is essential to determine whether you are required to register for GST/HST (and QST if you have a started a business in Quebec ). The simple answer is that if you anticipate that your annual gross revenues (total sales) are going to exceed $30,000 and your products or services do not qualify as Exempt or Zero rated (explained below) , then you are required to register for GST/HST and collect sales taxes from you
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
Today’s fast-paced business landscape demands unprecedented levels of efficiency and accuracy, especially in the finance sector. To keep pace with these changes, it’s imperative for financial functions to rethink their processes to boost productivity. Under the finance umbrella, accounts payable (AP) is particularly ripe for digitalization, with the potential to streamline operations and enhance efficiency.
As the end of the fiscal year (FY) rapidly approaches in four days, and with no appropriations for FY 2024, government contractors should be planning for a shutdown that will interfere with services, payments and awards that were anticipated for future revenue. Shutdowns are not only inconvenient but also require difficult decisions to be made. What Should Government Contractors Do?
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
Apologies in advance to that one guy in the comments who always accuses us of being mean to EY for no reason. Not our fault they end up in the headlines for stuff worth making fun of. It appears the ever talkative “people familiar with the matter” blabbed recently to Financial Times about an EY UK consulting job gone awry. The firm was hired to solve an anti-financial crime problem that had plagued the UK arm of Santander — one of the largest financial institutions across the p
As incidents of retail crime continue to escalate throughout the country, retailers have seen a dramatic jump in financial losses associated with theft. When taken as a percentage of total retail sales in 2022, “retail shrink” accounted for $112.1 billion in losses, up from $93.9 billion* in 2021, according to the 2023 National Retail Security Survey released today by the National Retail Federation. ( *The 2021 figures have been updated to reflect the April 2023 U.S.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
The Governmental Accounting Standards Board floated a proposal to set requirements for some types of capital assets to be disclosed separately by state and local governments for purposes of note disclosures.
The Making of the President 1960 by Theodore H. White had a footnote illustrating questions the intellectual group around President Kennedy would ask each other. They would provide answers and ask what the questions were similar to today’s Jeopardy TV show. In this instance, the answer was Nine-W, and the footnote had the question, “Do you spell your name with a V, Mr.
A recent Supreme Court ruling in the US expands the scope of states to collect sales tax on goods and services purchased from out-of-state via the Internet. As a result.
As a business owner, the thought of selling your company has likely come to mind when considering an exit. It’s no secret that it’s both a significant decision and undertaking, so gaining an understanding of how to prepare and what to expect can alleviate some of the stress in the transaction process. Here are the top three considerations for owners of staffing firms thinking about a sale: Consistency – Buyers are interested in businesses with a track record of consistent growth and strong profi
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Total Halloween spending is expected to reach a record $12.2 billion, exceeding last year’s record of $10.6 billion, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. A record number of people (73%) will participate in Halloween-related activities this year, up from 69% in 2022. “More Americans than ever will be reaching into their wallets and spending a record amount of money to celebrate Halloween this year,” NRF President and CEO Matthe
Many businesses are unable to afford to hire an accounting team. Often, business owners try to handle their books. However, this can lead to errors and other issues. Even if an organization has an accountant on staff, it's not their responsibility to prepare cash flow reports or income statements. A bookkeeper does not perform all of the daily tasks.
Two of the 20 largest public accounting firms in the U.S.—BDO USA and CohnReznick—made Newsweek’s third annual ranking of the 100 Most Loved Workplaces in America. The rankings recognize companies across the nation that have fostered employee-centric workplaces where team members feel appreciated, respected, and valued, according to Newsweek. Developed in collaboration with the Best Practice Institute (BPI), a research company and leadership development center, more than 2 million employees were
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Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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