TaxConnex

FEBRUARY 1, 2024

It’s also safe to say that its storyline of repetition seems to echo what you must do, over and over and over, to comply with sales tax laws. It’s a doozy! – “Needlenose Ned” Ryerson There are multiple steps to make sure your sales tax compliance works well. The days you get over and over with sales tax are deadline days.

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Sales Tax Minnesota Colorado 230

TaxConnex

NOVEMBER 28, 2023

does not free you from the complexities of sales tax. In many countries, you will run into some kind of sales tax – familiar if you’re used to selling in the U.S., Place-of-supply rules dictate where and when VAT applies and who is responsible for reporting. tax jurisdictions in which they have nexus. (A

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Sales Tax Transportation Maine 209

TaxConnex

OCTOBER 19, 2022

Sales tax, unlike other types of taxes, has many deadlines, not once or twice a year, but often every month and it doesn’t fall on the same day for every business, or state. Not to mention, the process of reporting sales tax and the amount of information required on each return varies with each state and local jurisdiction.

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Sales Tax New Jersey Louisiana 191

CPA Practice

APRIL 15, 2024

Grant Thornton’s Q1 2024 CFO survey , which polled 273 senior finance leaders, reported that more than one-third (34%) of CFOs are “very optimistic” about the U.S. This marks an 11-quarter high for the survey. At the same time, 12% of CFOs said they were pessimistic — marking an 11-quarter low.

Real Estate 111

Real Estate Technology E-commerce Finance 111

CPA Practice

APRIL 23, 2024

While the organization’s full report—the Annual Family Business Survey—has not yet been released, the organization shared that these growth expectations mark a “significant jump from the prior year.” Additionally, most family businesses in the survey—90 percent—added “between 1 and 50 jobs to their payroll last year,” according to the report.

payroll 111

payroll Tax 111

TaxConnex

JUNE 21, 2022

The Supreme Court Wayfair decision four years ago gave tax jurisdictions the sudden power to require countless companies to collect and remit sales tax. In many respects, Wayfair also opened the path to levying additional kinds of tax obligations on businesses that sell online as eCommerce becomes more and popular.

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South Dakota E-commerce Alaska Missouri 185

RogerRossmeisl

OCTOBER 6, 2021

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have a business in federally declared disaster areas.

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Tax income tax tax return CPA 227

ThomsonReuters

APRIL 5, 2024

Businesses that do not have sound tax provision processes are at an elevated risk of damaging their company’s financial health. That’s because interim tax reporting plays a pivotal role in providing valuable financial information between annual reporting periods. Why is interim reporting important?

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Tax income tax financial statements accounting standards 68

Going Concern

APRIL 17, 2024

Ever since the news broke in early 2023 that a PwC Australia partner brought confidential government tax changes back to the firm for the purposes of monetizing it for corporate tax avoidance, the firm has been struggling to crawl out from under the garbage heap of a scandal. PwC Australia reported $3.4 billion ($2.2

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Government corporation tax Tax 106

RogerRossmeisl

DECEMBER 27, 2021

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. January 17 (The usual deadline of January 15 is a Saturday) Pay the final installment of 2021 estimated tax. Farmers and fishermen: Pay estimated tax for 2021.

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Tax CPA business tax 212

TaxConnex

APRIL 13, 2023

Our third annual survey of financial professionals across accounting, manufacturing, construction, software and technology, retail/eCommerce, telecom and others showed that many industries face sales tax challenges and that financial leaders continue to lean on internal resources to get the job done. What’s keeping them up at night?

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Sales Tax tax return audit 130

ThomsonReuters

FEBRUARY 28, 2024

Her firm is also staffed by four full-time employees and a few part-time positions that are outsourced. “I view the tax firm as my own Google experiment,” Shaul says. “I Clients were now offered bundled service packages which included quarterly or monthly financial statements and applicable payroll services.

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cpa firm CPA Non-Profits financial statements 98

TaxConnex

MARCH 7, 2023

Online retailers and eCommerce companies have been the focal point of taxing jurisdictions and their updated nexus laws for years. Our third annual survey of financial professionals revealed a sales tax storm in many industries. Yet these companies are unhappy about they handle sales tax.

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Sales Retail Tax tax return 130

TaxConnex

FEBRUARY 15, 2022

A ccording to TaxConnex’s recent market survey of 100 top finance professionals, this could be the year to outsource sales tax. Three of these execs’ biggest in-house deficiencies to managing sales tax in 2022: bandwidth, internal knowledge and the right partner or solution. Seems like something needs to change. That’s a tall order.

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Sales Tax income tax tax return 232

TaxConnex

APRIL 6, 2023

The 2018 Supreme Court Wayfair decision gave us a bright line standard for determining sales tax nexus: Generate a set amount of revenue in a state in a set amount of time and your company has to collect and remit the applicable sales tax. Managing sales tax is burdensome. Seems clear. Who handles compliance?

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Technology Sales Tax tax return 130

MyIRSRelief

MARCH 15, 2024

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable.

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California Tax tax return payroll 130

TaxConnex

SEPTEMBER 28, 2023

Now it’s time to register with the states to collect and remit sales tax. You complete your sales tax registrations and file them with the departments of revenue or taxation in each state. These registrations are called sales tax permits, sometimes licenses. New York calls theirs a “sales tax certificate of authority.”

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Sales Tax West Virginia North Dakota 147

CPA Practice

FEBRUARY 12, 2024

Chief financial officers have dramatically higher expectations compared to the most recent quarters, according to a new survey from Grant Thornton LLP, one of America’s largest providers of audit and assurance, tax and advisory services. CFOs were also asked about their labor needs heading into a new year.

Technology 64

Technology Tax tax planning Finance 64

RogerRossmeisl

OCTOBER 8, 2020

For the past 35+ years my practice has been serving franchise new vehicle dealerships with their tax, attest and consulting needs. or a seasoned automotive veteran looking to make a change to an Automotive CPA that understands your business. we need to talk. Today, The post Does Your Dealership’s CPA Know the Auto Industry?

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CPA cpa firm California cpas 246

TaxConnex

AUGUST 19, 2021

In the fall of 2020, I published an article on how the sales tax picture is changing due to COVID-19. Now that we’re over a year into the pandemic, I wanted to provide an update on the sales tax landscape, what predictions have remained the same and what’s changed. sales tax economic nexus on remote sellers. Latest developments.

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Sales E-commerce Tax Missouri 232

Cherry Bekaert

APRIL 26, 2024

ASU 2024-02 Codification Improvements—Amendments to Remove References to the Concepts Statements The FASB’s Conceptual Framework establishes concepts that the Board considers in developing standards of financial accounting and reporting. The latest issue of the Rundown features a summary of the new standards issued in the first quarter 2024.

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accounting standards accounting and finance income tax financial accounting 52

Withum

APRIL 25, 2024

Many clients tell me that a problem they have with tax season is getting everything together and they wish they were better organized. Here are some easy ways to become better organized and also become more aware of your tax and financial situation. This reduces the “paperwork” and tax reporting forms.

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Tax tax return tax preparation Account 59

TaxConnex

APRIL 7, 2022

Federal Income Tax Day, April 18 th , looms large in everybody’s mind right now. Too bad sales tax doesn’t come with a deadline that simple. State sales tax filing obligations come in a dizzying number of deadlines for you to follow (potentially with bad consequences if you don’t). A regular schedule – unless it’s not.

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Sales Tax income tax Texas 196

CPA Practice

AUGUST 3, 2023

The IRS is not adhering to its own internal guidelines when sending large volumes of sensitive taxpayer information to and from its tax processing centers, according to a new report from the Treasury Inspector General for Tax Administration, the watchdog entity that oversees the nation’s tax agency.

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Tax audit income tax 98

TaxConnex

SEPTEMBER 21, 2021

When attempting to manage your sales tax obligations across many different states, one of the first things to hit you will be the dizzying number of deadlines you must follow when filing sales tax returns. Generally, the higher the volume of tax you’ll be reporting, the more often you have to file and remit.

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tax return Tax Sales tax services 180

MyIRSRelief

NOVEMBER 3, 2023

Mike Habib, EA: Your Ally in Navigating Tax Problems Tax issues can be a source of significant stress and confusion. Whether it’s unfiled tax returns, unpaid back taxes, tax audits and appeals, or 941 employment payroll problems, these issues can seem insurmountable. Contact us for professional tax help today!

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Tax tax return audit tax preparation 130

TaxConnex

JANUARY 4, 2022

Sales tax is similar in that you need to monitor the process, adjust, and tune-up the process occasionally. Sales tax rules , rates, filing frequencies and many other details change frequently. Calculate your tax correctly. First you start with the data itself and calculating the proper sales tax. Pick the right form.

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tax return Tax Sales Start-ups 164

Xero

DECEMBER 1, 2023

Following the Autumn Statement, you might be curious about the specific measures that impact Making Tax Digital (MTD). Especially since digital transformation is already underway, with Making Tax Digital for Income Tax on the horizon. Simplified submission processes and requirements Quarterly updates are central to MTD for ITSA.

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Tax income tax bookkeeping accounting software 88

CPA Practice

JANUARY 11, 2023

Fourth quarter 2022 estimated tax payments are due on or before January 17, 2023. Many taxpayers, especially the self-employed, are required to make quarterly estimated tax payments during the year, and others do so voluntarily to stay current on their taxes. Who needs to make a payment? What’s taxable?

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Tax income tax Real Estate Non-Profits 98

TaxConnex

JANUARY 27, 2022

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Due to all of the above, it’s hard to fill any position at this point, but a job with specific skills, especially with experience managing sales and use tax, can be downright impossible. Local jurisdictions from Geneva, N.Y.,

Sales 163

Sales E-commerce Tax Florida 163

MyIRSRelief

OCTOBER 2, 2023

You don’t have a lot of money to spend on accounting and tax services. The truth is, accounting, taxes and bookkeeping are essential for all businesses, regardless of size or age. To comply with tax laws. These programs can help you track your income and expenses, generate financial reports, and file your taxes.

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tax services bookkeeping bookkeeping services Tax 130

CPA Practice

OCTOBER 12, 2023

Retail sales of guns and ammunition will soon be subject to a new state excise tax in California. Under Assembly Bill 28, which Governor Gavin Newsom signed into law on September 26, 2023, an 11% tax will apply to gross receipts from retail sales of ammunition, firearms, and firearm precursor parts starting July 1, 2024.

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California Sales Tax Pennsylvania 124

Withum

MAY 19, 2022

If you received a notice regarding deferred social security taxes that you partially paid back in December 2021, then you are not alone. The IRS has recently issued CP256V Notices to taxpayers that assert penalties and interest for failure to make proper federal tax repayments relating to Form 941. What Is the Fix?

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Tax tax return payroll tax tax services 124

CPA Practice

FEBRUARY 27, 2024

And let’s face it, they could really use your help in getting their finances not only organized, but tax ready as well. According to the Intuit QuickBooks Entrepreneurship in 2024 Report , as more people take the leap to work for themselves, solopreneurs are increasing in numbers. Calculate sales tax. Nearly a quarter of U.S.

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quickbooks accounting and finance Tax Finance 105

TaxConnex

AUGUST 10, 2023

Your online business is painfully aware of tax deadlines for income, payroll, property and other local taxes. Sales and use taxes have their deadlines, too – a dizzying number to follow, potentially with bad consequences if you miss even one. A lot of complications Currently, sales tax across the U.S. What should you do?

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Sales Tax tax return payroll 130

CPA Practice

SEPTEMBER 13, 2023

Another report Wednesday showed companies added 177,000 workers this month, the smallest advance since March, according to the ADP Research Institute. Corporate profits The report also includes the government’s first estimate of corporate profits in the quarter. Gross domestic product rose at a 2.1% from 13.8%. from 13.8%.

Hospitality 105

Hospitality payroll Maine Tax 105

TaxConnex

APRIL 29, 2021

S uppose you ’ re registered for sales tax in a jurisdiction because you have es tablished sales tax nexus. For various reason though, you don’t have any sales tax to remit. You may think that because you haven’t collected any sales tax, you have no return to file. ?.

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