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Operating as a C Corporation: Weigh the Benefits and Drawbacks

RogerRossmeisl

The corporate tax rate is currently 21%, which is lower than the highest non-corporate tax rate of 37%. The corporations profits are taxed at the corporate level and then any dividends distributed to shareholders are taxed again at the individual level. One of the primary disadvantages of a Ccorporation is double taxation.

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Navigating the Maze of Nonprofit Accounting Hurdles

AccountingDepartment

Navigating the complex world of non-profit accounting can feel like a daunting task for many non-profit managers. For non-profits striving to maximize their impact, understanding and overcoming common accounting challenges is essential.

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How to validate a resale certificate

TaxConnex

Different purchasers may be granted exemptions under a states statutes, and exempt buyers come in many different forms: the federal government; some state and local governments and government contractors; schools; churches; non-profit hospitals; and charities, for instance. Get the certificate from your customer.

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The Rise of Non-CPAs in CPA Firm Acquisitions

CPA Practice

The accounting profession is undergoing a significant transformation as more non-CPAs acquire CPA firms. A growing number of non-CPA buyers are acquiring multiple CPA firms to build scalable, regional, and niche accounting businesses. The Trend: Why Are Non-CPAs Buying CPA Firms?

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UHY Receives Private Equity Funding From Summit Partners

CPA Practice

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.

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AICPA Asks Treasury for Guidance on Marijuana Law Changes

CPA Practice

“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.”

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Sales tax risk: What to ask (part 2)

TaxConnex

Some buyers such as non-profits are also often exempt from sales tax, though be sure to get an exemption certificate to validate not collecting sales tax. Tangible personal property (TPP) generally incurs sales tax; services still often don’t.

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