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Sales tax is full of complexities, but there are certain topics that seem to cause more of a headache than others. Drop shipments are one of those topics. As e-commerce continues to explode – it almost doubled during the pandemic and was already rising sharply nationwide in early 2019 – drop shipment transactions have become even more prevalent. Many companies have added marketplaces on websites and don’t maintain their own inventory for online purchases.
RESOURCES / ARTICLES. Exciting Clients…. with Review Meetings! Accountants interpret financials to advise clients, sometimes through ‘quarterly [or monthly] review’ meetings. How do we get clients excited (and willing to invest) in these meetings? They need to see the value and believe in the approach. Then they’ll enter productive, long-term advisory relationships.
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What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults on the loan and you’re required to pay principal or interest under the guarantee agreement, you don’t want to be blindsided.
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For any business, the worst thing that can happen is that you can find yourself in a 911 urgent tax help situation. The IRS is known to be the toughest and most ruthless of all collection agencies on the planet. If you ever find yourself in trouble with the IRS, never consider going it alone. There are always avenues for you to turn and they do allow you to have a representative on your side.
Important efficiency metrics for SaaS startups include Sales Efficiency (aka the Magic Number), Human Capital Efficiency, and Capital Efficiency. The post 3 Important Efficiency Metrics for SaaS Startups appeared first on Burkland.
Is it just your imagination or is e-commerce expanding every year? It’s not your imagination. Let’s see some numbers : 5% of global internet users have purchased products online. The e-commerce industry is growing 23% year-over-year (yet 46% of American small businesses still don’t have a website). By 2040, an estimated 95% of all purchases will be through e-commerce.
Is it just your imagination or is e-commerce expanding every year? It’s not your imagination. Let’s see some numbers : 5% of global internet users have purchased products online. The e-commerce industry is growing 23% year-over-year (yet 46% of American small businesses still don’t have a website). By 2040, an estimated 95% of all purchases will be through e-commerce.
Small businesses are making the leap into digitalization to respond to evolving consumer behavior and expectations, adapting to new working norms, putting data to work to drive performance and building business resiliency. The post 4 Reasons Why Digital Transformation Is Table Stakes for Small Businesses appeared first on Xendoo.
As posted to the Lex Fridman YouTube Channel on 8/20/21 (Run Time: 11 min, 29 sec) “Tesla AI Day presented the most amazing real-world AI and Engineering effort I have ever seen in my life” — Lex Fridman On 8/19/21, Elon Musk convened Tesla AI Day, an event to share progress in the automaker’s software and hardware development related to artificial intelligence.
You know that paying someone comes at a cost. In addition to giving employees their paychecks, you also have the cost of payroll taxes. So, how much does an employer pay in payroll taxes? Keep reading to learn more about the employer cost of payroll taxes. How much does an employer pay in payroll taxes? […] READ MORE.
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 truly understand your SaaS company’s performance, you need to go beyond standard financial metrics, such as revenue and operating income, and dive into SaaS metrics. Debbie Rosler, Fractional CFO Read More. The post SaaS Metrics Simplified, Part One: Launch Metrics appeared first on Burkland.
Amazon, eBay and Etsy are more than household names. In the world of sales tax, they’re major marketplace facilitators. A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Think of it almost like a consignment shop.
QUESTION: Our company offers a high-deductible health plan (HDHP), and many participants contribute to their own HSAs. Several have asked about making HSA contributions on a pre-tax basis so they can receive income tax savings every payroll period (instead of waiting until they file their tax returns) and avoid paying FICA taxes on those contributions.
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.
While Congress develops legislation that would eliminate, and/or otherwise mitigate, the current TCJA implemented state and local tax (SALT) limit on an individual taxpayer’s ability to take the itemized deduction for state and local taxes, California has just passed legislation which offers a work-around that will allow many Californians to mitigate the effects of the current $10,000 federal limitation on SALT deductions.
Not all businesses sell a physical product, but many businesses have inventory that is made up of materials used as a part of a service provided to a customer. In either case, these products and materials need to be accounted for in the warehouse, when they are moved to job sites, and when they are used for a client job or within the production of a larger product.
Many companies find themselves in return-to-work limbo, trying to determine what expectations to set for employees who have been working from home for more than a year. Making these decisions Read More. The post Is “Remote-First” the Future of Work for Startups? appeared first on Burkland.
TaxConnex is proud to announce that last Sunday, August 8, TaxConnex founder and CEO, Robert Dumas, was interviewed on the Kathy Ireland show as branded content! Robert was able to highlight TaxConnex’s unique offerings to businesses looking to outsource sales tax compliance. There are still many businesses who don’t understand all the complexities surrounding sales tax or that they even have an obligation.
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.
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If you have a parent entering a nursing home, you may not be thinking about taxes. But there are a number of possible tax implications. Here are five. 1. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical expenses, exceed 7.5% of adjusted gross income (AGI).
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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Ever had a bad connection on a video conferencing platform? It can be a confusing and frustrating experience. That’s a lot like understanding the taxes on videoconferencing services right now. With the recent boom of video conferencing brought on by the necessity of a way to meet during the pandemic, businesses and governments alike are trying to figure out how to best apply sales tax to these services, or if they are even taxable.
Speaker: Claire Grosjean, Global Finance & Operations Executive
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There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. So what has the pandemic done to states’ coffers? States themselves don’t seem to know yet, according to a recent survey co-sponsored by the Tax Policy Center. Most states were unable to fully assess the impact of the pandemic on their budgets – due in part due to shifting tax deadlines – but most states did wind up with higher revenues than they foresaw some 14
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