article thumbnail

Sales tax and accounting services

TaxConnex

It’s that time of year again when everyone suddenly thinks about preparing their income taxes. But does tax preparation incur sales taxes – and if it does, where and how? For some 90 years, states have levied sales tax on goods (West Virginia was the first to do so , in 1921). Sourcing is huge.

article thumbnail

The accountant’s guide to state taxes on retirement income

ThomsonReuters

Best tax states for retirees Choosing the right state for retirement can substantially impact your tax burden and overall financial situation. Here are the top five tax-friendly states for retirees, along with a brief overview of the tax pros and cons of each: Florida.