CPA Practice

OCTOBER 22, 2024

“It’s imperative that the federal government’s tax administration bodies provide guidance to these profitable businesses and their advisors in advance of the rescheduling of marijuana to help ensure a clear understanding of their federal tax obligations and mitigate non-compliance.”

cpas 116

cpas Non-Profits Legal Tax 116

RogerRossmeisl

APRIL 17, 2024

Although there are plenty of non-profits that deserve your support, some exist solely to facilitate fraud. One of the most effective ways that they secure donations is by creating entities that resemble established non-profits. Many businesses support their communities by donating to local charities.

Non-Profits 189

Non-Profits CPA 189

TaxConnex

DECEMBER 27, 2022

Certain products and services may be non-taxable and not require an exemption certificate. The presumption is that the sale of tangible personal property is generally taxable unless specifically enumerated while services are generally non-taxable unless specifically enumerated. There are many exceptions to these “general” rules.

Sales 246

Sales Tax Non-Profits Maine 246

CPA Practice

DECEMBER 3, 2024

This new capital—and Summit’s commitment to operational excellence and deep experience supporting profitable growth—will help us accelerate our growth strategy, deepen relationships with existing clients, and set new standards in the dynamic middle market.

Non-Profits 111

Non-Profits tax consultant cpa firm auditor 111

CPA Practice

DECEMBER 10, 2024

Defined strategy and planning are key to a successful and profitable CAS practice. Defined client niches are key to promoting standardization and efficiency and, ultimately, increasing profitability. Practices with a formal CAS business plan report nearly $10,000 more in median average annual client revenue. 30 at 1 p.m.

Non-Profits 111

Non-Profits CPA public accounting Tax 111

TaxConnex

MAY 10, 2022

Maryland held that a for-profit company’s purchases for non-profit hospitals were subject to the state’s sales and use tax because there was no agency relationship between the company and the hospitals and, even if an agency relationship existed, that alone would not entitle the for-profit company to an exemption.

Sales 242

Sales Mississippi Tax Non-Profits 242

TaxConnex

NOVEMBER 18, 2021

Most businesses don’t set out to be non-compliant with sales tax, or anything for that matter. Prior-period liability can be extremely costly as states and jurisdictions crack down on non-compliance. When filing these prior period returns, you will be assessed various penalties and interest as a result of non-compliance.

Sales 246

Sales Tax Non-Profits Start-ups 246

Xero

NOVEMBER 28, 2024

At Xeinadin Sittingbourne, our team of 30, mostly Xero-certified advisors, supports small and medium businesses across various industries, including construction, healthcare, and non-profits.

Non-Profits 95

Non-Profits bookkeeping Technology Healthcare 95

TaxConnex

JULY 5, 2022

companies sell profitably to the north? non-compliance?across Sure, if statistics are any indication Canada is the 10th-largest eCommerce market in the world estimated at 35 billion USD last year. Sounds enticing. What about the sales tax obligations? See our full blog on sales tax and selling into Canada here.). Contact us ?to

Sales 246

Sales Tax Non-Profits 246

Randal DeHart

FEBRUARY 14, 2025

When valuing a business, most people think straightforwardly about profits. We'll discuss traditional valuation metrics, the non-financial factors influencing worth, and practical strategies to enhance value. While financial success is undoubtedly critical, it's far from the only factor determining a business's actual worth.

Construction 104

Construction Non-Profits 104

RogerRossmeisl

DECEMBER 28, 2020

Fraud perpetrators masquerading as non-profits usually find easy pickings. Know your non-profit The best and easiest way to avoid becoming a charity scam victim is to donate only to charities you already know and trust. Unfortunately, the holidays are the season for charity fraud. However, by doing.

Non-Profits 147

Non-Profits CPA 147

Basis 365

NOVEMBER 26, 2024

If you’re looking to generate more profit to fund operating expenses, pay your team more, offer better benefits, and fuel growth—while still keeping more profit for yourself—it’s time to focus on key financial and pricing drivers. Here are actionable strategies to help you improve your gross profit margins and achieve your goals.

Non-Profits 59

Non-Profits Technology Tax tax planning 59

TaxConnex

AUGUST 26, 2021

Amazon’s net profit grew more than 80% in 2020. According to the National Retail Federation, non-store and online sales are expected to grow 18% to 23% this year over 2020. And here are some more numbers : E-retail totaled over $4.2 trillion in 2020. Cross-border e-commerce sales worldwide grew more than 20% in 2020.

E-commerce 246

E-commerce Sales Tax Missouri 246

TaxConnex

NOVEMBER 29, 2022

Tangible personal property (TPP) is generally taxable unless the specific type of TPP you sell is identified as non-taxable by statute or the client has a valid exemption certificate (see note below). For example, accepting a resale exemption certificate from a non-profit claiming an exemption might not be appropriate.

audit 262

audit auditor general ledger Non-Profits 262

Dent Moses

JUNE 4, 2025

This structure offers significant legal protections and is favored by companies planning to reinvest profits or eventually go public. Unlike S corporations or LLCs, a C corp pays corporate income tax on its profits. A C corporation is a legal structure for a business that is taxed separately from its owners.

Tax 52

Tax Non-Profits Alabama Legal 52

CPA Practice

NOVEMBER 11, 2024

Sifting through what is in the market and coming to market, it is clear that tax preparation will be more profitable than ever. The trend: tech (both AI and non-AI) is taking the pain out of tax prep. Your firm can connect all types of standard and non-standard data sources! There is a lot of buzz about AI and the profession.

accounting firms 111

accounting firms Technology Account accounted 111

TaxConnex

DECEMBER 2, 2021

An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example. Sales of tangible personal property (TPP) are presumed taxable but certain exemptions can apply.

Manufacturing 245

Manufacturing Sales Tax Non-Profits 245

CPA Practice

NOVEMBER 19, 2024

The CMA demonstrates your talent for financial analysis, budgeting, profitability, risk management, and strategic planning. Earning Potential: Certified accounting and finance professionals typically earn more than their non-certified peers. Organizations value professionals who can wear multiple hats.

cma 122

cma CPA accounting and finance management accounting 122

TaxConnex

SEPTEMBER 7, 2023

They also frequently sell TPP such as merchandise, memberships, books and so forth that for-profit companies generally have to charge and collect sales tax on. Are non-profits exempt from sales tax obligations? Minnesota exempts non-profits from collecting sales tax when the sales are for fundraising.

Sales 147

Sales Tax Non-Profits North Carolina 147

Withum

NOVEMBER 22, 2024

The subject matter experts based in the Boca Raton office (all local residents), provide comprehensive services to high-net-worth individuals , family offices , businesses , and non-profits in South Florida. Growing our presence in Boca Raton is a key milestone for Withum, reflecting our expanding client base in South Florida.

Florida 105

Florida Real Estate Non-Profits Healthcare 105

TaxConnex

MAY 26, 2022

An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example. However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations.

South Dakota 244

South Dakota Sales South Carolina Illinois 244

Xero

JULY 8, 2024

With a prize pool of over NZ$750,000, the Xero Beautiful Business Fund is back to support small businesses and non-profits in seven countries with their growth plans and help drive future success. Trailblazing with technology For a small business or non profit that has a future-focus mindset and is seeking to innovate.

Non-Profits 105

Non-Profits 105

Withum

DECEMBER 4, 2024

Cash Incentives for Clean Energy Investments One of the most significant changes stemming from the Inflation Reduction Act of 2022 is the ability for for-profit and not-for-profits entities to convert their clean energy credits to cash. For-profit entities can apply clean energy credits against their federal income tax due.

Tax 105

Tax income tax Construction Non-Profits 105

CTP

APRIL 21, 2025

As a result of recent court cases, athletes have gained the ability to receive a financial profit anytime their name, image, and likeness (or NIL) is used. NIL collectives can be set up as non-profit or for-profit organizations. For a for-profit collective, a major part of tax planning is going to be entity selection.

tax planning 52

tax planning Tax Non-Profits Sports 52

Anders CPA

FEBRUARY 28, 2025

To improve law firm profitability, think of your firm as a manufacturer. If law firms want to remain sustainable, they must prioritize profitability by balancing production volume and cost efficiency. Improving Profitability as a Law Firm Legal work is often viewed as a series of customized, one-off solutions.

Non-Profits 59

Non-Profits Legal financial statements Manufacturing 59

Withum

MARCH 17, 2025

Visit Resource Center Transfer Pricing Enters the Equation Multinational companies with purchases or sales through non-U.S. Missteps can lead to misstated financials, compliance issues, or unexpected hits to profitability. Advance Pricing Agreements or APA).

financial statements 95

financial statements Manufacturing Non-Profits Tax 95

ThomsonReuters

OCTOBER 18, 2024

Highlights: Statutory reporting ensures transparency and compliance by mandating financial and non-financial disclosures to regulatory bodies. Statutory reporting is the mandatory disclosure of financial and non-financial information by companies and organizations to designated government agencies and regulatory bodies.

Non-Profits 52

Non-Profits financial statements Legal tax return 52

Withum

FEBRUARY 10, 2025

Names and titles of principal officers, if any Entity number issued by the Pennsylvania Department of State Filing Details Fee: $7 for business corporations, LLCs, LPs, and LLPs; $0 for nonprofit corporations and any LPs or LLCs with a not-for-profit purpose.

Pennsylvania 59

Pennsylvania Non-Profits CPA Education 59

CTP

JANUARY 22, 2025

If the LLC is taxed as a sole proprietorship and is just doing a profit and loss statement, the business may need an employable spouse or relative to qualify them for an HRA. Partnerships could also make this work if they have at least one W-2 employee who is a non-owner.

Tax 89

Tax Expense Reimbursements Non-Profits Account 89

Basis 365

APRIL 15, 2025

To clearly illustrate the disconnect between their reported profits and actual cash available, the most effective tool to use was the Statement of Cash Flows. Indirect Method : Begins with net income and adjusts for non-cash items like depreciation and changes in working capital.

accrual accounting 64

accrual accounting accounting and finance Non-Profits financial statements 64

Withum

MAY 23, 2022

Upon conversion from a non-profit entity to a for-profit entity, which is a taxable transaction. This is typically used when the entity is not usually profitable and has little if any intangible assets. Litigation, which might include ownership disputes or matrimonial actions. Approaches Considered. Conclusion.

Non-Profits 128

Non-Profits Legal Tax Sales 128

Cherry Bekaert

NOVEMBER 1, 2024

The not-for-profit membership association partnered with Cherry Bekaert for a comprehensive diagnostic assessment of its people and technology, which led to outsourced accounting services and the implementation of Sage Intacct accounting system, along with bill pay, expense reporting and budget systems.

Non-Profits 52

Non-Profits Technology audit accounting system 52

CPA Practice

OCTOBER 18, 2024

Since departing the IMA last year, he has worked as a consultant, advising associations and non-profits on developing corporate relationships and creating successful fundraising campaigns. Alex started his career in the for-profit industry, serving in public accounting, consulting, and Fortune 500 companies.

CPA 110

CPA Non-Profits cpas Washington 110

Withum

MARCH 2, 2024

In 2022, the National Small Business Association, an Ohio non-profit corporation, sued the US Treasury Department alleging the mandatory disclosure requirements exceed Congress’ authority under Article I of the Constitution and violate the First, Fourth, Fifth, Ninth, and Tenth Amendments.

Ohio 140

Ohio Non-Profits tax services Tax 140

ThomsonReuters

NOVEMBER 25, 2024

Only by creating a thorough, transparent ESG compliance process can companies dedicated to ESG principles forge that essential bond of trust with stakeholders upon which sustainable profitability is built.

Government 99

Government Non-Profits Legal California 99

Withum

MAY 20, 2025

Exempt organization fundraisers should prepare for reduced tax-driven giving incentives, emphasizing the intrinsic mission impact of donations and leverage the above non-itemizer deduction to sustain broad-based support. This new deduction could encourage small donations from a broader base of donors.

Tax 64

Tax Non-Profits Transportation Education 64

SMBAccountant

JUNE 21, 2023

Income Statement: The income statement, also referred to as the profit and loss (P&L) statement, is a financial report that showcases a company's revenues, cost of goods sold, expenses, and gains and losses over a specific period. It focuses on the company's operational activities during that period and determines its profitability.

Non-Profits 130

Non-Profits accounting equation financial statements accounts payable 130