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That could be a lot of sales tax revenue. Definition “Streaming services” comprises a range of digital products, at least for tax purposes. Some states have narrow definitions for sales tax purposes; others have broader ones. The delivery method can also affect sales tax.
There’s always something changing in the world of tax, especially sales tax. The five-letter acronym stands for the states without a statewide sales tax – New Hampshire, Oregon, Montana, Alaska and Delaware – and two of those states might be leaving the group sooner than later. billion-plus from a 4% sales tax in FY25.
Q-commerce is also likely to start sparking long-term questions about sales tax. Tax treatment Q-commerce may seem futuristically fast, but its sales tax calculation remains the same so far as its older cousin e-commerce. There are 10,000-plus tax jurisdictions in the U.S.,
EDT 1 Min Read Facebook Twitter LinkedIn Email Andrew Harrer/Bloomberg Tax year 2026 and filing season 2027 are the target date for retiring the Filing Information Returns Electronic, or FIRE, system. The IRS is encouraging tax preparers to complete their IRIS applications to begin transitioning for the 2027 season.
But the season also offers a big danger for your company to ignite economic nexus in various states and create sales tax obligations, with selling through the likes of Amazon being one of the most complicated ways to do so. Cyber Monday wasnt far behind, as consumers looked to spend $13.2 billion, up more than 6% over 2023.
We must confront a critical question: If we continue to train accountants solely to file tax reports, are we truly equipping them for the challenges of todays world? All rights reserved. Yet, in many areas, accounting education stubbornly clings to outdated, overly technical models that fail to connect with the actual demands of the market.
The excitement of years end can push all kinds of taxes to the back of your mind. But its a good idea to look out for how a new year can mean new sales tax obligations for you and your online business. Here are some common situations that can be exciting for your business and distracting for you and that can create sales tax risk.
Thomas Massie of Kentucky and Brian Fitzpatrick of Pennsylvania, voting with the Democrats. One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. If a 2024 tax return has already been filed, then an amendment would be required.
Pennsylvania has embarked on a significant tax reform journey by reducing its corporate net income tax (“CNIT”) rate. This reduction is part of a broader strategy to make Pennsylvania a more attractive destination for businesses, including law firms, by easing the tax burden and fostering a more competitive business environment.
Accounting Technology Fraud prevention Fraud MORE FROM ACCOUNTING TODAY Practice management BDO names Matt Becker next CEO Matthew Becker, BDO USAs national managing principal of tax, has been ratified by a principal-wide vote to succeed Wayne Berson as the firms next CEO, effective July 1, 2026. All rights reserved.
EDT 1 Min Read Facebook Twitter LinkedIn Email Tax management platform Instead launched artificial intelligence-driven tax reports, harnessing AI to analyze full tax returns to glean tax strategies and missed opportunities. All rights reserved.
Mary Girsch-Bock Professionals on the Move is a round-up of recent hiring, promotion and staffing announcements from around the accounting and tax profession. She is a member of the American and Pennsylvania Bar Associations. His areas of tax expertise include partnerships, including allocations, tax planning and structuring.
Sales tax rules on clothing are some of the most complex nationwide, as a patchwork of states offer complete exemptions, no exemptions and everything in-between for specific types of clothing. States that do exempt clothing, such as Vermont and Pennsylvania (except for fur items in the latter), exempt a lot.
From tax prep to asset management, invoicing and portals, and auditing to remote CFO functions, the services the accounting and tax pros provide are dependent on the technologies they use. The awards highlight the most useful technology for firms and clients.
The Pennsylvania Institute of CPAs and CPA Crossings joined with Padar and Tolin as strategic partners and investors. "To By Michael Cohn 10h ago Tax-related court cases Tax Fraud Blotter: Prep perps Bank job; the magic is gone; not a beautiful day in the Neighborhood; and other highlights of recent tax cases.
In her new role, Jennifer will oversee the equity management, lease lifecycle management, and tax reporting solutions, enhancing insightsoftware’s ability to deliver trusted and effective solutions for its customers. She has two decades of hands-on experience in establishing, marketing, and selling annuity-based software solutions.
Platform Accounting expands in Chicago Platform Accounting Group building in Holladay, Utah Platform Accounting Group has added Madison Street Advisors, formerly known as McCormick Tax Group, based in downtown Chicago, extending Platforms footprint in the Midwest. All rights reserved.
Gary Boomer June 9, 2025 10:00 AM Facebook Twitter LinkedIn Email As CPA firms grow into the $10 million to $100 million revenue range, operational complexity increases, especially during peak periods like tax season. Identify opportunities Assess pain points in tax, audit, scheduling, and advisory workflows. All rights reserved.
Sierra Rose Overmoyer (Pennsylvania), a graduate of Shippensburg University with a Bachelor of Science in Business Administration in accounting and finance, is employed with SEK CPAs & Advisors in Carlisle, PA. Property and Fiscal Office on accounting programs, financial systems, and operational business processes.
Top Remote Tax and Accounting Candidates of the Week | July 10, 2025 Firm Watch CohnReznick acquires Piascik Certified Public Accountants [ Consulting.us ] The deal will expand CohnReznick’s presence in the Mid-Atlantic region, adding a Richmond office to its eight locations across Metro DC, Baltimore, Charlotte, and South Florida.
EDT 6 Min Read Facebook Twitter LinkedIn Email Bank job; the magic is gone; not a beautiful day in the Neighborhood; and other highlights of recent tax cases. CPA Timothy Trifilo has been sentenced to 20 months in prison for making a false statement on a mortgage loan application and for not filing an income tax return. .:
By Daniel Hood 35m ago Technology Instead adds AI-driven tax reports The reports harness artificial intelligence to analyze full tax returns to glean tax strategies and missed opportunities. All rights reserved. By Paige Hagy June 6 Like what you see?
K1x launches 1099 aggregator Karen Roach/Karen Roach - stock.adobe.com Tax solutions provider K1x announced a major upgrade to its K1 Aggregator product, called Aggregator Plus , which adds automated Form 1099 data extraction to its patented, AI-powered tax platform. All rights reserved.
Mary Girsch-Bock Professionals on the Move is a round-up of recent hiring, promotion and staffing announcements from around the accounting and tax profession. She is a member of the American and Pennsylvania Bar Associations. His areas of tax expertise include partnerships, including allocations, tax planning and structuring.
The company also announced new tax workflows and features. All rights reserved. Avalara launches APIs for 1099, W-9 solutions Scott McFarlane, chief executive officer of Avalara Inc.,
Danielle Lee Managing Editor, Accounting Today mailto linkedin Practice management Career moves Grant Thornton MORE FROM ACCOUNTING TODAY Technology XcelLabs launches to help accountants use AI Jody Padar and Katie Tolin debuted a training and technology platform, in partnership with the Pennsylvania Institute of CPAs and CPA Crossings.
EDT 5 Min Read Facebook Twitter LinkedIn Email Another Naughty list; a couple of sharks; Miami vice; and other highlights of recent tax cases. Pennsylvania: CPA Michael A. San Jose, California: Execs Lalo Valdez and Matthew Olson have pleaded guilty to not paying over employment taxes to the IRS. All rights reserved.
CALIFORNIA Evan Staggs Evan Staggs was hired as a partner in the tax practice at Weaver, Woodland Hills. He became instrumental in the field of taxation, with a specific focus on state and local taxes. All rights reserved. IDAHO Heath Alloway was hired as a growth partner at Sorren, Meridian. and became an ICPAS member in 1974.
State lawmakers in Pennsylvania and Delaware each voted on Thursday to pass their respective CPA pathways legislation, joining a growing number of states enacting new laws to provide alternative routes to obtaining a certified public accounting license and ease the accounting shortage. in the 12 months to May 2025.
The tax agency was able to make it through the spring filing season with service levels that were relatively consistent with previous years — but that may not be true in the fall, Koziel warned, as retirements and layoffs that were delayed to help the service make it through April 15 have gone into effect. All rights reserved.
The offer on display from smart money is tempting — access to liquidity much sooner, with better tax treatment, and the chance for "multiple bites at the apple," with resources to fuel future value creation. All rights reserved.
PENNSYLVANIA Carissa Robb Port City Photography Carissa Robb was promoted to managing partner in the banking and financial services practice at SolomonEdwards, Philadelphia. All rights reserved. Read the full story.)
Cleveland, announced its 2025 partnership class; in assurance: Angela Bacarella-Wood in Detroit, Mike Dellavalle in New York, Syed Farooq in Chicago, and Bryan Friedmann and Kevin Kray in Cleveland; and in tax: Dave Charles and Jon Dittrich in Cleveland and Asha Shettigar in New York. All rights reserved. OHIO Cohen & Co.,
Tax MicroStrategy Suddenly Has a Tax Problem, and Needs Help From Trumps IRS [ Wall Street Journal ] If you think MicroStrategys business model is wild, wait until you see its tax issues. In an unusual twist, it could have to pay federal income taxes on those paper gainseven if it never sold a single bitcoin.
Potential for bipartisan agreement “So there is this confluence that’s happening when you think about…no taxes on tips,” began Karishma Shah Page, co-leader of K&L Gates’ Public Policy and Law practice and former legal clerk for the House Committee on Foreign Affairs.
EDT 4 Min Read Facebook Twitter LinkedIn Email Eric Lee/Bloomberg Senate Republicans intend to propose revised tax and health-care provisions to President Donald Trumps $3 trillion signature economic package this week, shrugging off condemnations of the legislation by Elon Musk as they rush to enact it before July 4. All rights reserved.
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accountant filed 177 false tax returns on behalf of clients, feds say [ NJ.com ] A Bergen County woman was sentenced to three years in prison and must pay back over $1 million after admitting to filing 177 false tax returns on behalf of clients, officials with the U.S. Accountants Behaving Badly N.J. Attorneys Office said.
Brown Plus Welcomes New Team Members Leading accounting and advisory firm,Brown Plus, recently announced the addition of four new team members to its office in Camp Hill, Pennsylvania: Devin Brown, CPA, MBA, rejoins Brown Plus as an Audit Senior Manager. Nicole Wilkinson joined Brown Plus as an Administrative Assistant. In the U.S.,
With Accounting Gimmick, Republicans Upend Senate Norms [ New York Times ] Senate Republicans on Monday set a precedent that upended how the costs of tax cuts could be counted in federal budgeting, voting in favor of an accounting gimmick that erodes one of Washington’s last bulwarks against unchecked deficits. million in revenue.
EDT 2 Min Read Facebook Twitter LinkedIn Email Donald Trump Allison Robbert/Photographer: Allison Robbert/Bl President Donald Trump amped up pressure on Congress to speed the passage of his tax-cut bill as Republicans reached a tentative deal on the state and local tax deduction, one of the key sticking points in the negotiations.
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