TaxConnex

SEPTEMBER 22, 2022

There’s always something changing in the world of tax, especially sales tax. Sales tax on digital products was the subject of a white paper draft at the Multistate Tax Commission’s annual meetings in Anchorage, Alaska. Sales tax revenues continue their robust pandemic-driven rise in many states. Virtual reality.

Sales 130

Sales Tax Indiana Colorado 130

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.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

TaxConnex

DECEMBER 29, 2022

New sources of tax revenue, old ones robust but sputtering in spots, tax holidays as political tools amid inflation: It’s been a year of new trends in sales tax. Heading into the new year, state sales tax revenues were up coast to coast, often by double-digit percentages. Add that U.S. Too much or too little?

Sales 130

Sales Tax Maryland Louisiana 130

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

payroll tax 52

payroll tax payroll South Dakota Rhode Island 52

ThomsonReuters

SEPTEMBER 12, 2023

How to manage state and local tax Do you have clients who live in one state but work in another state? If so, they may be able to lower income taxes through a state-by-state reciprocity agreement, should the agreement exist. Bilateral vs. unilateral agreements Do state reciprocity agreements apply to remote workers?

Indiana 98

Indiana Montana Pennsylvania income tax 98

MyIRSRelief

NOVEMBER 29, 2019

One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. They are required by the IRS to report the amount of 941/940 employment payroll taxes that have been either withheld from employees or what they owe to the government.

payroll 140

payroll payroll tax Tax income tax 140

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

LyfeAccounting

APRIL 22, 2021

We’ve all heard it before… Amazon paid $0 in taxes while making over 11 billion dollars in profit. And while most businesses were paying their fair share of taxes, in 2018, Amazon received a rebate of $129 million. This basically means Amazon got a federal tax refund for millions of dollars. How to Write Off Taxes Like Amazon.

Tax 52

Tax Virginia Georgia income tax 52

CPA Practice

JULY 31, 2023

The new promotions touch the firm’s offices in both Pittsburgh and Columbus, and they reach across several areas of the firm’s service offerings, including the firm’s Tax, Audit and Consulting practices, as well as the Merger and Acquisitions/Transaction Advisory practice. He is a licensed CPA and a member of ACG San Francisco.

Real Estate 97

Real Estate West Virginia Manufacturing audit 97

CPA Practice

JANUARY 31, 2023

The new Bennett Thrasher partners are: Nina Desai DiAndria Green Dane Harris Ray Lee Gabe Rivers Brian Sengson Chris Tomaselli Nina Desai focuses on R&D tax credits in Bennett Thrasher’s Credits and Incentives practice. Her experience includes helping claim tax credits for clients of all sizes, from startups to Fortune 500.

New Hampshire 110

New Hampshire Georgia Virginia public accounting 110

CPA Practice

JULY 11, 2023

The new promotions touch the firm’s offices in both Pittsburgh and Columbus, and they reach across several areas of the firm’s service offerings, including the firm’s Tax, Audit and Consulting practices, as well as the Merger and Acquisitions/Transaction Advisory practice. Brett is a graduate of Youngstown State University.

Real Estate 52

Real Estate West Virginia Construction Manufacturing 52

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. Beginning July 1, new forms will be used to report withholding tax.

payroll 72

payroll Virginia Utah West Virginia 72

CPA Practice

JANUARY 3, 2024

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. From gas taxes to property tax amendments and income tax cuts, being aware of these changes is crucial since state and local taxes are among the highest taxes most people pay.

Tax 128

Tax Kansas income tax Montana 128

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 105

Rhode Island Alaska Tax New Hampshire 105

CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 111

Rhode Island Alaska Tax New Hampshire 111

Cherry Bekaert

APRIL 22, 2024

individual states offer unique tax credits and negotiated incentives to attract or retain business operations. The credit may be used against income tax, and excess credit may be used against payroll withholding tax in certain situations. Throughout the U.S., The incentive amount varies by location and industry.

South Carolina 100

South Carolina North Carolina Mississippi Tennessee 100

TaxConnex

SEPTEMBER 7, 2023

Nonprofits are often thought to be exempt from sales taxes, but is that correct? Other stats say more than 2 million charities exist that are tax-exempt according to Internal Revenue Service rules. Are non-profits exempt from sales tax obligations? These same organizations are not necessarily exempt from sales tax.

Sales 147

Sales Tax Non-Profits North Carolina 147

Going Concern

OCTOBER 21, 2022

PwC Adds More Minorities to Ranks While Partner Promotions Lag [ Bloomberg Tax ]. Lizbel Sanchez, also known as Lizbel Diaz, 47, pleaded guilty to one count of willful failure to collect or pay over taxes in April. I had to stop going to H&R block for my taxes at some point. Everybody gone!

audit 68

audit CPA accounting firms accounting and finance 68

CPA Practice

DECEMBER 7, 2023

Jack Lee Oliver, owner and operator of the Insurance Depot on Fairmont Avenue, used a foster child he never met to inflate his tax refund, according to court documents from the U.S. Those charges were only three of 32 separate charges related to tax fraud, according to a grand jury indictment filed in the U.S. Justice Department.

West Virginia 98

West Virginia Tax Virginia CPA 98

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.

payroll 98

payroll Missouri Virginia Delaware 98

CPA Practice

JULY 28, 2023

The digital economy has caused an incredible shift in how jurisdictions create, administer, remit and audit indirect taxes. Properly structuring tax models and aligning regimes that are equitable for all stakeholders, while attempting to balance the economic interests of all participants has now become a vital societal priority.

Maryland 52

Maryland Tax Virginia West Virginia 52

ThomsonReuters

OCTOBER 20, 2020

Many companies are discovering that this massive shift in work behavior may also have unforeseen tax implications. While businesses may focus on the potential for new income and activity tax liabilities, they should be aware that indirect tax responsibilities may be affected as well. In 2018, the U.S.

South Dakota 40

South Dakota Sales Tax Rhode Island 40

CPA Practice

APRIL 16, 2024

By Justin Sink, Bloomberg News (TNS) President Joe Biden and first lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in adjusted gross income in 2023—meaning the first family paid an effective federal income tax of 23.7%—according according to tax filings released by the White House.

Tax 111

Tax income tax tax return Pennsylvania 111

TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. As we start the new year, here’s a look back at some significant sales tax events from 2023. This year, multiple states introduced new sales tax exemptions, too.

Sales 234

Sales Tax Colorado Alaska 234

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.

income tax 52

income tax Tax Virginia Delaware 52

Going Concern

FEBRUARY 23, 2024

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K. From 2012 to April 2018, according to the criminal information document signed by U.S.

CPA 90

CPA Illinois auditor Iowa 90

CPA Practice

NOVEMBER 1, 2023

Bureau of Economic Analysis figures compiled for Stateline by the Urban-Brookings Tax Policy Center in Washington, D.C. North Dakota’s per capita personal income rose to $73,414, giving it the 12th highest income in the country, up from 16th in 2019. The knocks to personal incomes affected state revenues. Democratic Gov.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

ThomsonReuters

APRIL 24, 2024

Checkpoint Payroll Update caught up with John Wertz, tax attorney and partner at Holland & Knight’s New York office, to discuss this first-of-its-kind law. Wertz, a veteran in state and local taxes for over 30 years, explained that the law applies only to full-time hourly employees.

West Virginia 52

West Virginia Alabama Legal Tax 52

CPA Practice

APRIL 13, 2023

After two years of record tax collections, budget writers in some states are starting to feel a revenue pinch created by a slumping stock market, banking and tech layoffs, slower consumer spending and lower energy prices. In New York state, personal income tax revenue plummeted by $9.1 Democratic Gov.

Maryland 64

Maryland Virginia Alaska income tax 64

Going Concern

JANUARY 5, 2024

Big 4 Big Four Reshape Consulting Workforce, Strategy With Rare Layoffs [ Bloomberg Tax ] The Big Four accounting firms have leaned into their tech advisory work and data analytics services—areas ripe for revenue growth—as interest rates and the artificial intelligence boom reshaped demand for consulting services. Happy trails, Tom!

tax return 99

tax return Virginia accounting and finance audit 99

CPA Practice

JANUARY 23, 2023

By Marsha Mercer, Stateline.org (TNS) As inflation soared in the past year, families in some states suffered a double whammy—paying food sales taxes on top of higher-priced groceries. At least five of the 13 states where groceries were taxed as of last Jan. Grocery taxes that remain are “there for a reason. In 2021, about 13.5

Idaho 111

Idaho South Dakota Tax Kansas 111

PYMNTS

FEBRUARY 18, 2017

This weekend, apparel retailers will be trying to clear out their winter inventory, car dealerships will try to catch the wave of early income tax refunds, and anyone looking to upgrade their TV or washer/dryer will be in heaven over the next three days. Wegmans current carries 237 Virginia wines from 58 wineries at its local stores.

Retail 40

Retail Virginia Washington income tax 40

CPA Practice

MARCH 9, 2023

Werfel, a former acting commissioner of the IRS under the Obama administration, won the support of six Republicans, according to the NYT, despite increased scrutiny of the tax agency by many conservatives. Miller departed after the IRS admitted to improperly scrutinizing the federal tax-exempt status of some conservative groups.

West Virginia 59

West Virginia North Carolina Iowa Alaska 59