Anders CPA

NOVEMBER 29, 2022

Who will be most impacted by the new retail delivery fee Colorado has begun collecting, and how can businesses adjust? Although the retail delivery fee is based in Colorado, businesses in other states that sell taxable goods to Colorado customers will also feel the effects. Key Takeaways: The retail delivery fee amounts to $0.27

Retail 52

Retail Colorado tax return Tax 52

CPA Practice

DECEMBER 19, 2023

Erie County, New York, exempts energy sources and services New York state sales tax doesn’t apply to retail sales of residential energy sources and services, but local sales tax does apply in many jurisdictions, including Erie County. For renewals occuring December 1, 2023, the retail tobacco permit fee is $50.

South Carolina 111

South Carolina Tax Florida tax return 111

CPA Practice

DECEMBER 19, 2023

SB 7733 would impose an excise tax on licensed dealers in firearms, firearms manufacturers, and sellers of ammunition. The 11% tax would apply to the gross receipts from the retail sale of any ammunition, firearm, or “major component of a firearm” in New York. Will New York tax all guns and ammunition?

New York 133

New York Tax Manufacturing tax return 133

TaxConnex

AUGUST 1, 2023

What extra charges were involved in the return? Have you already filed your sales tax return based on the original amount of sales tax charged? If you refund the full price, then you’re entitled to take a credit with the state for the full sales tax you returned to the customer.

Sales 130

Sales Rhode Island Tax Michigan 130

TaxConnex

NOVEMBER 22, 2022

Another cost-effective approach to adding sales and use tax advisory services: partnering with sales and use tax experts. Accounting and CPA firms looking to expand their services into the sales and use tax niche, often have pent-up demand within their own client base. Review the sales tax payable account.

accounting firms 130

accounting firms Sales Tax tax return 130

CPA Practice

FEBRUARY 9, 2024

However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. Super Bowl 2024 is on Sunday, Feb. Usually, the payer (e.g.,

Gambling 122

Gambling Tax Sports South Carolina 122

MyIRSRelief

APRIL 22, 2024

Compliance with Tax Filings: All tax returns must be filed. The process involves submitting an application to the IRS with a detailed explanation of your financial situation, often with the help of a tax professional. How Can I Resolve Unfiled Tax Returns in Corona, CA? What should I do? What should I do?

Tax 130

Tax payroll tax tax return payroll 130

TaxConnex

MARCH 26, 2024

The purchaser – not the retailer – has the responsibility for determining whether or not a sale is exempt from tax. If the purchaser does not submit a valid exemption certificate to the retailer, the retailer has the responsibility to assess and collect the sales tax from the purchaser.

Sales 158

Sales Tax tax return Retail 158

PYMNTS

FEBRUARY 23, 2016

While a National Retail Federation survey found that 65.5 percent of the country expected to receive a tax refund, almost half (49.2 percent) said that they had already made up their minds to send the funds to savings accounts rather than a retailer’s till. Money saved is spending potential down the road.”

tax return 40

tax return Retail Tax income tax 40

TaxConnex

SEPTEMBER 13, 2022

Remote retail sales just got rockier in Colorado, which has begun imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Stay tuned.

Colorado 187

Colorado Tax tax return Sales 187

PYMNTS

APRIL 16, 2018

Dubbed YES GST, the product is an overdraft facility that provides small business owners with funding based on their annual turnover and data from tax returns.

tax return 43

tax return Tax Technology B2B 43

TaxConnex

SEPTEMBER 26, 2023

“Revenue” can also vary, meaning “ gross revenue ” in some states and “taxable receipts” or “retail receipts” in others. (We Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. They also take the burden of sales tax obligation off the seller. Taxability.

Sales 201

Sales Tax South Dakota Colorado 201

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?

Sales 130

Sales Tax tax return audit 130

TaxConnex

MAY 30, 2023

Nexus continues even after a person stops activities that originally established nexus … This one-year trailing nexus concept applies to all taxes you report on the excise tax return, including retail sales tax.”

Sales 130

Sales Michigan Tax Wisconsin 130

TaxConnex

MARCH 31, 2022

One quick explanation of the difference is an example from Alabama : The consumers use tax is imposed on tangible personal property brought into Alabama for storage, use, or consumption in the state when the seller did not collect seller’s use tax on the sale of the property. California state income tax return.”.

Tax 188

Tax Alabama Washington California 188

TaxConnex

AUGUST 31, 2023

Since, every state with a statewide sales tax (and countless localities, especially in places like California and Alaska ) has enacted economic nexus laws, meaning e-commerce vendors of products and, increasingly, services must collect and remit sales tax and file sales tax returns with individual states.

Sales 228

Sales E-commerce Tax Alaska 228

xendoo

FEBRUARY 23, 2022

More complex returns will incur higher fees. Often you may offset the cost of these services with your tax refund if you are eligible for one. If you choose to use a local accounting firm that specializes in tax return preparation, you will pay significantly more. How Much Time Do You Spend Preparing Your Return?

Tax 94

Tax tax preparation tax return Account 94

TaxConnex

DECEMBER 10, 2020

The case was referred to investigators after an auditor found that the business hadn’t filed quarterly sales tax returns or remitted sales tax collected for that period. In another case, Ohio AG Dave Yost is trying to crack down on online retailers of beer and wine with a recent injunction in federal court this week.

Sales 157

Sales Tax Ohio Nebraska 157

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.

California 124

California Sales Tax Pennsylvania 124

TaxConnex

JANUARY 26, 2023

The Superior Court of New Jersey, Appellate Decision determined that a defendant in a theft case was charged too severely due to the inclusion of sales tax while determining retail value of shoplifted merchandise.

Sales 130

Sales Tax Arkansas Missouri 130

Going Concern

MAY 23, 2024

FTE Senior Tax and Accounting | Candidate ID #20455103 Certifications: CPA in progress Education: BA, Accounting & Business Administration Experience (years): 4+ years in public accounting Work experience (highlight): Staff Accountant at a CPA firm Full client care including accounting, bookkeeping, tax and audit In 2024 completed 100+ returns, (..)

Real Estate 57

Real Estate Account accountant accounted 57

TaxConnex

OCTOBER 4, 2022

Your compliance process should start with identifying sales tax nexus and determining taxability of your products and services in those states where you have sales tax nexus. You then need to create a billing process to apply tax to your invoice, manage your sales tax-exemption certificates and prepare and file sales tax returns.

Sales 130

Sales Tax tax return Colorado 130

Going Concern

MAY 16, 2024

FTE Senior Accounting and Tax | Candidate ID #5311425 Certifications: CPA, QB ProAdvisor Education: BA Accounting, MS Accountancy Experience (years): 10+ years public accounting Work experience (detail): 2+ with national firm 10 years working with large C-Corp clients 5+ years with SMB and HNWIs tax prep and advisory 4 years with own practice with (..)

Real Estate 57

Real Estate Account accountant accounted 57

Going Concern

NOVEMBER 24, 2023

Generally, taxpayers fall within the contours of reasonable cause if they can show that they exercised ordinary business care and prudence—for example, with respect to a filing obligation or regarding an item claimed on a tax return. Taxpayers who use tax professionals can sometimes also show reasonable cause—i.e.,

auditor 113

auditor audit tax return cpas 113

TaxConnex

DECEMBER 28, 2021

More than $1 in every $4 spent on retail purchases during the 2021 holiday season will come from online orders, by some estimates (with about two out of every five of those done via a smartphone, other industry observers add ). But digital revenue for November and December is still expected to hit $212.28 billion in U.S.

Sales 181

Sales Tax audit tax return 181

Withum

JULY 25, 2023

Retailers, restaurants, and even e-commerce businesses provide gift cards as a way to expand their customer base and build brand loyalty. Tax Treatment of Gift Cards The tax treatment of the gift cards is where the misconception and confusion, on when the income recognition arises.

financial statements 97

financial statements tax return E-commerce Tax 97

TaxConnex

MARCH 24, 2022

A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales by listing their products, while the marketplace facilitator processes payments, collects receipts and in some cases assists in shipment. returns for direct sales and indirect sales. What are they?

South Dakota 173

South Dakota Nevada Missouri Minnesota 173

ThomsonReuters

JULY 10, 2023

It is typically imposed by the state or local government where the goods or services are used, and the rate is often the same as the sales tax rate. Like sales tax, use tax revenue is used to fund various government programs and services. How does use tax work? What is nexus?

Tax 98

Tax Massachusetts Washington South Dakota 98

TaxConnex

JULY 15, 2021

Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales. 1, 2022, though, all retailers must apply the destination sourcing rules when calculating, collecting and remitting state sales tax.

Sales 141

Sales Tax Louisiana North Carolina 141

TaxConnex

FEBRUARY 4, 2021

Almost as many companies (72%) doing business in fewer than 30 states aren’t satisfied, including mostly retail/e-commerce companies (85%). getting sales tax returns filed correctly and on time. What is the cause of their dissatisfaction? being audited.

Sales 130

Sales Tax E-commerce tax return 130

Pooley Accounting Services

AUGUST 5, 2021

So, what do you REALLY need to keep for taxes, and how long do you need to keep it? . The purpose of keeping documents for taxes is to prove your income, expenses, etc. were what you claim on your tax return. Failure to provide documentation can cost you deductions or cause you to pay penalties or additional taxes. .

Tax 52

Tax Real Estate tax return audit 52

Nancy McClelland, LLC

APRIL 16, 2023

(c) Nataliya Vaitkevich via Pexels I used to find it annoying when a client would forward me an article about a tax deduction or credit, to make sure I would take it on their tax return. Yet we often see this benefit overlooked on tax returns, especially when S-Corp shareholders pay for their insurance through work.

Tax 52

Tax tax preparation tax return cpas 52

Snyder

JUNE 24, 2022

However, you will usually need the following forms: Form 1040 for income tax returns Schedule C if you are a sole proprietor and have income or losses to report 1099-K, issued by Shopify for merchants turning over $20,000 a year or over 200 transactions. Can a Shopify Accounting App Automate My Tax Filing?

E-commerce 52

E-commerce tax return bookkeeping accounting software 52

Snyder

JUNE 20, 2022

To execute more complex tasks such as filing compliant tax returns, you will need an integrated e-commerce accountancy app. Aside from tending to your legal obligations, accounting allows you to track sales, expenses, profits, and tax liabilities to stay in control of your finances at every step.

E-commerce 52

E-commerce Account accountant accounted 52

Inform Accounting

JANUARY 23, 2023

From October, people won’t be able to buy these products from any business - this includes retailers, takeaways, food vendors and the hospitality industry. See: Far-reaching ban on single-use plastics in England - GOV.UK (www.gov.uk) Read more of Inform's tax blogs : Struggling to pay tax – What should you do?

tax return 52

tax return Hospitality Tax Government 52

TaxConnex

AUGUST 4, 2022

This is a business or organization that contracts with third-party businesses to sell goods and services on its platform and facilitates retail sales.?Marketplace returns for direct sales and indirect sales.?. At TaxConnex, our goal is to take sales tax off your plate but also to be a resource to you.

Wisconsin 130

Wisconsin North Carolina Michigan Iowa 130

PYMNTS

FEBRUARY 26, 2020

Software developer and Ukrainian native Volodymyr Kvashuk, 25, from Renton, Washington, worked for Microsoft from 2016 to 2018, and was tasked with testing Microsoft’s online retail sales platform. On fake tax returns, he said the bitcoin was gifted to him from a relative. million in bitcoin.

tax return 82

tax return Washington accounting and finance payroll 82