CPA Practice

FEBRUARY 28, 2023

By Erin Murphy, The Gazette, Cedar Rapids, Iowa (TNS) Hundreds of Iowans did not get their correct federal tax refund due to a clerical error by the state revenue department, the department confirmed Friday, and state money will be used to fix the mistake. Once the error was discovered, a corrected file was sent to the IRS.

Iowa 80

Iowa Tax tax return Government 80

TaxConnex

OCTOBER 13, 2022

We’re fond of saying that nothing’s ever easy in sales tax. And here we’ll kick off our run toward Halloween with a look at one of the newest and trickiest areas of sales tax: electric vehicle chargers and charging. This new line of business raises a few sales tax questions, chiefly regarding the electricity flowing into the vehicles.

South Carolina 130

South Carolina Sales Tax Colorado 130

CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Social Security Tax : Employers and employees each contribute 6.2%

payroll tax 110

payroll tax West Virginia payroll cpas 110

TaxConnex

JANUARY 11, 2022

It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. Many states say that when the contents of a shipment are taxable, so is the shipping cost; similarly, when items in a shipment are exempt from sales tax, so is the cost of shipping.

Rhode Island 181

Rhode Island Sales Tax South Dakota 181

Cherry Bekaert

AUGUST 10, 2023

Pass-through entity taxes (PTET) are constantly changing on a state-by-state basis. How Alabama’s PTET Works Alabama’s PTET election is made by submitting Form PTE-E via “My Alabama Taxes” on or before the 15 th day of the third month following the close of the tax year. Louisiana Louisiana House Bill No. House Bill No.

Alabama 98

Alabama Ohio Iowa Louisiana 98

TaxConnex

JULY 13, 2023

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. Iowa , Aug. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. Connecticut: Tax-free week begins on the third Sunday of August and runs until the following Saturday. Maryland , Aug. New Jersey , Aug.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

JANUARY 16, 2024

Then you already have one of the most complicated situations in sales tax. Your tax obligation and liability begin with where you have nexus , the connection between your company and a taxing authority or jurisdiction. These questions factor into determining whether sales tax applies.

Iowa 206

Iowa Connecticut Maryland Colorado 206

CPA Practice

FEBRUARY 27, 2023

Hundreds of Iowans did not get their correct federal tax refund due to a clerical error by the state revenue department, the department confirmed Friday, and state money will be used to fix the mistake. As a result, the department issued an erroneous calculation, which local governments use to set their property tax rates.

Iowa 52

Iowa Tax tax return Government 52

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

AUGUST 3, 2023

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Does Summer Camp Qualify for a Childcare Tax Credit?

Sales 96

Sales South Carolina West Virginia Tax 96

TaxConnex

JUNE 20, 2023

Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. South Dakota joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. Starting Aug.

South Dakota 186

South Dakota North Dakota Wisconsin Iowa 186

TaxConnex

SEPTEMBER 1, 2022

Wayfair, Inc et al , but many businesses are still trying to figure out how to manage sales tax obligations brought on by this decision. Some examples: Iowa: Gross sales to the state over $100,000; no annual transaction threshold. All 45 states with state-wide sales tax now have economic thresholds set.

South Dakota 200

South Dakota Mississippi Iowa Sales 200

CPA Practice

APRIL 21, 2023

So it was a huge win on Tuesday when Ford’s F-150 Lightning became one of just 10 vehicles to qualify for the full $7,500 in tax breaks laid out by the Inflation Reduction Act. The tax credits also only apply to new EVs with a sticker price below $55,000, or trucks and SUVs priced under $80,000. or don’t use American parts and pieces.

South Carolina 111

South Carolina Tax Iowa Colorado 111

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

JUNE 22, 2023

Supreme Court’s Wayfair decision gave tax jurisdictions the power to require out-of-state companies collect and remit sales tax. But the latter then had to evaluate changing tax responsibilities under economic nexus thresholds and physical presence standards. See a history of sales tax here.) Easing off? As of Aug.

South Dakota 130

South Dakota North Dakota Colorado Minnesota 130

Shay CPA

JANUARY 17, 2024

The beginning of a new calendar year means every business owner needs to put some thought into tax filings. Beyond filing for your own company, you also have fast-approaching responsibilities pertaining to your employee’s taxes and their ability to file. A big change went into effect for your contractors for the 2023 tax year.

Delaware 52

Delaware Tax income tax Iowa 52

Withum

OCTOBER 14, 2021

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Iowa 52

Iowa Tax 52

CPA Practice

DECEMBER 20, 2023

Louis, Honkamp has eight offices in Iowa and Wisconsin. Founded in 1976, Schowalter & Jabouri is a full-service attest, tax, and business advisory firm in St. The new location will be the first office in Missouri for Honkamp, and the merger increases the firm’s headcount to about 300 employees. In addition to St. Louis office.

cpa firm 105

cpa firm CPA Iowa Wisconsin 105

CPA Practice

SEPTEMBER 11, 2023

Tax Conference – November 2 and 3, 2023 at the Brookfield Conference Center. The Tax Conference will be livestreamed for those unable to attend in person. The Iowa Society of CPAs or ISCPA is offering their Fall CPE Conference September 21-22, 2023 at the Hilton Garden Inn in Cedar Rapids.

CPA 111

CPA Wisconsin North Carolina Iowa 111

TaxConnex

AUGUST 4, 2022

Laws governing marketplace facilitators popped up when states saw that platforms were charging sales tax on the sale of their own or certain third-party sales but not on all sales. This produced a gap in tax collection. Recently Hawaii, Texas, Wisconsin, Illinois, Michigan, Iowa, Louisiana and North Carolina added laws.

Wisconsin 130

Wisconsin North Carolina Michigan Iowa 130

Xero

JULY 7, 2022

I am originally from Naperville, Illinois and I’m currently a senior studying accounting and business analytics at the Tippie College of Business at the University of Iowa. This summer, I am working at Deloitte as a Business Tax Services Intern in their Chicago office. Tell us a bit about yourself.

Iowa 70

Iowa accounting and finance Illinois bookkeeping 70

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

LyfeAccounting

JUNE 25, 2021

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? But wait a minute… how are states funding things without state taxes?

income tax 52

income tax South Dakota Tax Alaska 52

ThomsonReuters

FEBRUARY 15, 2023

property taxes, which help fund roads, schools, emergency medical services, and other services, are a vital source of revenue for state and local governments. Property tax rates vary greatly among states and localities and can have a major impact  on business investments and where people decide to live.

Tax 52

Tax Real Estate Kansas South Dakota 52

CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

Rhode Island 116

Rhode Island West Virginia South Dakota North Dakota 116

CPA Practice

DECEMBER 14, 2023

Jeri Beckham, Texas Joan Bengford, Iowa Velma Bjorgum, N.D. Jody Ehlers, Iowa Erick Enriquez, N.J. James Gobeli, Iowa Melissa Gourgues, La. These 128 men and women represent communities from across the country. Johnny Welborn, Texas Denise Zaharoff, Ga. Top 100 Katherine Allen, Colo. Dee Ann Aydelott, Mo. Kathleen Beard, Kan.

Iowa 52

Iowa Texas Utah Ohio 52

TaxConnex

NOVEMBER 16, 2021

The explosive growth of online sales means that state and local governments are searching for ways to recoup the tax revenue that they have determined they are owed. States are eager to take a portion of these sales and include them in their general tax revenues. In 2018, the landmark Supreme Court decision South Dakota v.

South Dakota 163

South Dakota E-commerce Rhode Island Illinois 163

CPA Practice

DECEMBER 18, 2023

The full 2023 Leadership Academy class is listed below in alphabetical order: Rose Araghchy, R2 Advisors PC, Mclean, VA Cody Bair, PwC US Tax LLP, Denver, CO Marcy Binkley, Vanderbilt University, Nashville, TN Abigail Breaux, Porter, Muirhead, Cornia & Howard, Casper, WY Jeremy Burch, Smith Adcock and Company, Athens, GA Zachary Carver, Cook Wealth (..)

cpas 122

cpas CPA Iowa Oklahoma 122

TaxConnex

JUNE 22, 2021

The years since June 2018 have been unlike anything in the history of sales tax. Supreme Court Wayfair decision three years ago empowered tax jurisdictions with the sudden authority to require thousands of companies to collect and remit sales tax. How has the sales tax landscape changed in just 36 months? Wayfair case.

South Dakota 130

South Dakota E-commerce South Carolina Missouri 130

CPA Practice

DECEMBER 22, 2023

Louis, Honkamp has eight offices in Iowa and Wisconsin. Founded in 1976, Schowalter & Jabouri is a full-service attest, tax, and business advisory firm in St. The new location will be the first office in Missouri for Honkamp, and the merger increases the firm’s headcount to about 300 employees. In addition to St. Louis office.

cpa firm 52

cpa firm CPA Iowa Wisconsin 52

CPA Practice

MAY 17, 2023

The property tax life cycle is a complex beast, and taming it can be both frustrating and time-consuming. Did you know that businesses typically spend an average of 132 hours per week on various personal property tax compliance tasks ? These 12 states generate property tax revenue from real estate taxes instead.

South Dakota 106

South Dakota North Dakota Real Estate Washington 106

CPA Practice

FEBRUARY 8, 2023

Following another strong year of aggressive growth, Andersen , a global provider of tax, valuation, financial advisory and related consulting services, has expanded its presence in Orange County, Calif. and established new offices in Des Moines, Iowa, and Pittsburgh, Pa. Vertical Advisors in Newport Beach, Calif.;

Real Estate 52

Real Estate Agriculture Iowa income tax 52

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.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

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.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

Anders CPA

SEPTEMBER 28, 2022

Even if a state doesn’t require sales tax on SaaS, the company may still need to file if they pass a certain threshold of sales. State Tax Considerations for SaaS Companies. For tax purposes, the definition of SaaS may differ from state to state. Does My State Tax SaaS? Those states that clearly tax SaaS are listed below.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

CPA Practice

FEBRUARY 9, 2023

A team of students from the Southern Illinois University, Carbondale, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case. The creative problem solving displayed by all participants during this year’s program is truly inspiring.

Illinois 52

Illinois Wisconsin Iowa Louisiana 52

TaxConnex

JANUARY 24, 2023

Shipping is indispensable to eCommerce yet sales tax on it remains a mishmash of regulations across the states. In our previous blog, we looked at how exemptions, the taxability of the item being shipped and selling into tax-free states affect sales tax on shipping.

Sales 26

Sales Tax South Carolina Massachusetts 26