Ronika Khanna CPA,CA

JULY 17, 2025

Journal entries can be perplexing for small business owners/non accountants, or accountants/bookkeepers in the early stages of their careers. If you simply wait and record the whole $10,000 sale in January, you’ll overstate next year’s income and understate this year’s income. Reversing journal entries, sound even more complicated.

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Accounting Today

JUNE 17, 2025

TaxConnex ( [link] ): Your e-commerce clients can create problems with sales tax obligations in several ways. Taxjar ( [link] ): July sales tax due dates. The Sales Tax People ( [link] ): Whats up with subscription services and sales tax? Taxnotes ( [link] ): Blogger Mandi L.

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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

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Withum

MARCH 17, 2025

The aggregate of such costs becomes a component of a companys finished goods available for sale. 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.

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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.

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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.

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ThomsonReuters

OCTOBER 23, 2024

Indirect taxes such as sales and use and value-added tax (VAT) are further complicated by the fact that tax regimes are always changing their requirements; different products and services are taxed according to different rules and rates; and different states, municipalities, and countries have different regulations and compliance procedures.

Technology 52

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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.

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Withum

DECEMBER 4, 2024

financing for the acquisition of motor vehicles, boats, or farm machinery for sale or lease and secured by such inventory). For-profit entities can apply clean energy credits against their federal income tax due. However, for-profit entities that would like to monetize a credit quickly can conduct a one-time transfer (i.e.,

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Accounting Seed

JANUARY 7, 2025

Intro to Accounts Payable and Purchase Order Accounting What is Integrated Accounting Software: Everything to Know Non-Profit Accounting Software: What to Look For About Accounting Seed With over 60,000 users globally, Accounting Seed utilizes the Force.com Platform to seamlessly connect data from sales lead to accounting ledgerproviding a complete (..)

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Accounting Today

JUNE 13, 2025

Financial Cents introduces advanced reporting features bohlam - stock.adobe.com Accounting practice management software provider Financial Cents announced a new reporting suite to help firm owners manage their team performance, revenue generation and profitability more precisely. By Michael Cohn June 12 Like what you see?

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Withum

APRIL 4, 2025

Both sellers and buyers will find value in this process.For sellers, when completed in advance of a sale process, it provides the opportunity to professionalize up the data, identify and prepare answers for questions likely to arise and will generally lead to a faster smoother path to closing a transaction.

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ThomsonReuters

APRIL 8, 2025

Highlights: Continuous Transaction Controls (CTC) mandates Business automation and CTC compliance Consequences of non-compliance and future readiness In the ever-evolving landscape of global commerce, Continuous Transaction Controls (CTCs) have emerged as a pivotal element in ensuring compliance and enhancing business automation.

Technology 52

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CPA Practice

JULY 7, 2025

Profit expectations, meanwhile, swung negative this quarter to -0.3%, down from +1.7% International Tax TRP Issue further guidance on the application of sections 959 and 961 to passthrough entities, including treatment of non-recognition transactions. last quarter.

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CPA Practice

DECEMBER 6, 2024

Theres plenty of sales pitches that are over the top, but heres a case where, you know, a lot of the things that weve seen the promise of are finally getting delivered. Or most non technical documentation, okay? And in fact, your your attitude around that, Brian, and again, we try to be very factual here in the lab with you.

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Basis 365

APRIL 14, 2025

Profitability Analysis Outsourced experts analyze financial data to identify cost-saving opportunities and areas for increased revenue generation. Improved Compliance and Risk Management Accounting and financial compliance regulations are constantly evolving, and non-compliance can result in hefty penalties.

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Accounting Today

JULY 25, 2025

I mentioned earlier, weve added talent to the firm, and thats one of our sustained profitable growth opportunities and something weve done. 01:14): We hired a chief operating officer from a non CPA financial services business. We hired a sales and marketing VP from a business that did technology software. And so its exciting.

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Basis 365

JUNE 25, 2025

Sales are climbing, your team is growing, and you're juggling way more Slack messages than you used to. Are we scaling profitably, or just burning cash faster?” Revenue segmentation (Which clients are most profitable?) You know that exciting feeling when your business is finally taking off?

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ThomsonReuters

NOVEMBER 1, 2024

For global companies, the stakes are high: non-compliance can result in substantial financial penalties, increased audit risk, and reputational damage. Brad Colie , Director of Pagero Sales at Thomson Reuters, called attention to global regulatory trends increasing business risks.

Tax 52

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ThomsonReuters

APRIL 14, 2025

Securing the right exemption certificates is crucial because it can affect profits and lead to costly assessments after an audit. CERTifyTax not only collects exemption certificates but also makes sure they are complete and accurate, reducing unnecessary sales tax exposure.

Tax 52

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Menzies

MARCH 3, 2025

This usually comes up in Sale and Purchase disputes, where parties try to define specific accounting policies for their deal but inadvertently cause conflict or confusion with standard accounting. Its quite possible that in the short term, the immediate reaction is to do nothing make less profit, but thats unlikely to remain the case.

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Mark Lee

JUNE 10, 2025

And if you’re wondering where to begin, here’s a useful way to view the advisory journey: a simple five-step ladder of non-compliance services. Profit and financial analysis Some accountants already include this in their core service – Though not all charge a commercial rate for this element of their service.

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CPA Practice

JULY 25, 2025

If a C corporation issues stock intended to be QSBS, such stock will not actually be QSBS if the corporation is an S corporation at the time of the stock sale. [5] non-tax avoidance reasons) for selecting a restructuring over merely terminating the corporation’s S corporation election (see the discussion below).

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Accounting Today

JULY 16, 2025

If youre an employee of a big company take to heart Jassys advice: Become expert with these tools so that you can become valuable, productive and profitable to your employer. This integration enables marketing, sales, and service teams to gain actionable insights without requiring extensive data expertise.

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CPA Practice

JULY 25, 2025

corporations and redistributed more than $3 billion in products to non-profits and schools. Galesburg, Ill.-based based NAEIR ( www.naeir.org ) has received donations of excess inventory from more than 8,000 U.S. Gary can be reached at 800-562-0955. Thanks for reading CPA Practice Advisor!

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ThomsonReuters

FEBRUARY 28, 2025

They may opt to absorb the additional costs rather than burden consumers, which can erode their profit margins, a particularly daunting prospect for small and medium-sized enterprises. merchandise imports by value are industrial (non-agricultural) goods. Producers, too, are not immune to the impact of tariffs. About 94% of U.S.

Tax 80

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Churchill-Knight

OCTOBER 30, 2024

Non-dom tax regime The non-dom tax regime will be abolished. Corporation Tax The main rate of Corporation Tax which is paid by businesses with taxable profits over £250,000 is set to remain at 25% until the next election. However, the Tax on the sale of residential homes will remain steady at 18% to 24%. in 2025-26.

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Going Concern

APRIL 25, 2025

Why CPAs face more risk than ever before [ Insurance Business Magazine ] In a push to diversify revenue and better serve clients, accounting firms are branching out into advisory services, fractional CFO roles, investment consulting, and even life insurance sales.

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Accounting Today

JUNE 3, 2025

Conquering tariffs; bracing for notices; FBAR penalty timing; and other highlights from our favorite tax bloggers.

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ThomsonReuters

JULY 14, 2025

These and other tax considerations specific to the oil and gas industry mean that companies involved in those industries must maintain an extraordinarily high level of diligence to avoid potential penalties for non-compliance. Resource rent tax: Taxes “super” profits that exceed a pre-determined level of return on capital investments.

North Carolina 59

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TaxConnex

DECEMBER 27, 2022

Sales and use tax nexus is defined as a connection between a person or entity and a taxing jurisdiction. Sales tax nexus is the basis for all your sales tax decisions because without sales tax nexus you have no further obligation to a state. As an example, food items are often considered non-taxable in many states.

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TaxConnex

NOVEMBER 18, 2021

Most businesses don’t set out to be non-compliant with sales tax, or anything for that matter. In fact, you probably have the best of intentions of meeting your sales tax obligations in the future. But what about sales tax liability from prior months? When do your sales tax obligations and liability start?

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TaxConnex

MAY 10, 2022

There’s always something changing in the world of tax, especially sales tax. Florida sales tax exemptions on hurricane-preparedness items may soon encompass purchases of pet food, thanks to the lobbying of a local Girl Scout troop. has become the second state this year to expand its sales tax exemption involving gold and silver.

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TaxConnex

JULY 5, 2022

companies sell profitably to the north? What about the sales tax obligations? Our neighbors to the north share several similarities with the United States when it comes to sales tax – but there are key differences. GST, PST, and HST are more similar to a Value Added Tax rather than the sales tax that we know in the States.

Sales 246

Sales Tax Non-Profits 246

TaxConnex

AUGUST 26, 2021

Cross-border e-commerce sales worldwide grew more than 20% in 2020. 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. As your customers in new states grow, so does your potential sales tax obligation.

E-commerce 246

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TaxConnex

MAY 26, 2022

Sales of tangible personal property (TPP) are presumed to be taxable unless specifically identified as not taxable. However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. Sales tax obligations start with nexus. Today all 45 states that have a sales tax (and D.C.)

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TaxConnex

DECEMBER 2, 2021

Many manufacturers, wholesalers, and distributors believe they have minimal sales tax obligations due to the likelihood of sales tax-exempt transactions. The concept to consider is whether the sales by these types of businesses are exempt or not from sales tax collection. Many times, a manufacturer is also a distributor.

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