Accounting Today

JANUARY 30, 2024

The IRS is pushing back payment and filing deadlines.

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ThomsonReuters

APRIL 25, 2024

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Jump to: • State tax on retirement income • Which states do not tax retirement income?

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TaxConnex

SEPTEMBER 14, 2023

How is sales tax managed for this growing industry? The sales tax obligations related to subscription box services depend on many of the same questions as other remote sellers: Are your products taxable or exempt in tax jurisdictions where you have customers? Wine and other spirits also incur excise taxes in many states.

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TaxConnex

FEBRUARY 23, 2023

All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Salestaxes are no exception.

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TaxConnex

AUGUST 1, 2023

Except when sales tax becomes involved. And the state or local sales tax you also charged on the purchase? Here it gets complicated: How much did you charge the customer in sales tax? Where was the sale made (and did it incur sales tax based on destination or origin )? It seems like a simple part of selling online.

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TaxConnex

JANUARY 17, 2023

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”.

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TaxConnex

FEBRUARY 14, 2023

Candy, flowers, diamonds, romantic dinners out or a movie snuggled on the couch: The year’s biggest day for dates looms again, and here’s an update on sales tax considerations for Valentine’s Day. If your business sells popular Valentine’s Day items online, you should know a few rules related to sales tax and taxability.

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TaxConnex

OCTOBER 18, 2022

Our Halloween-month look at tricky items for sales tax continues here with a few items it’s hard to live without…. Some states (of course) have special sales tax rules for clothing. Minnesota, Pennsylvania, Vermont and Rhode Island and New Jersey do just the opposite for protective and some other specialized clothing.

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TaxConnex

JANUARY 11, 2022

It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. Many states say that when the contents of a shipment are taxable, so is the shipping cost; similarly, when items in a shipment are exempt from sales tax, so is the cost of shipping.

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TaxConnex

FEBRUARY 25, 2021

You may think that if you do not have physical or economic tax nexus in a state, you do not have any tax obligations. You can still have obligations to the certain tax authorit ies in a state even where you do not have nexus and are not required to collect and remit sales tax in the state. The reason?

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CPA Practice

FEBRUARY 29, 2024

Businesses with income from farming or fishing that have not paid all of their 2023 tax year estimated taxes by Jan. 16 must file their tax returns and pay their entire tax due on or before March 1. Only those taxpayers that have paid their estimated tax payments by Jan. See Topic no.

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Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

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CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

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Withum

MAY 21, 2021

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CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

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Withum

MARCH 11, 2024

Eryn Sabbagh, a Tax Intern, is no stranger to RMH, having previously served the nonprofit with her sorority. Eryn Sabbagh, Tax Intern Withum’s Boca Raton Tax intern, Noah Tellez , was also able to participate in the give-back event. I loved volunteering in college. It’s hard to keep it up once you graduate.

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Withum

MARCH 11, 2024

Eryn Sabbagh, a Tax Intern, is no stranger to RMH, having previously served the nonprofit with her sorority. Eryn Sabbagh, Tax Intern Withum’s Boca Raton Tax intern, Noah Tellez , was also able to participate in the give-back event. I loved volunteering in college. It’s hard to keep it up once you graduate.

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CPA Practice

JANUARY 10, 2024

an accounting, tax, and management advisory firm that specializes in serving private clients through sophisticated tax services. has regularly provided high-net-worth individuals and other private clients with comprehensive, individualized tax offerings. Financial terms of the deal, which became official on Jan.

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LyfeAccounting

JULY 14, 2021

Your physical address might result in you paying significantly more in property taxes than someone else. And as millions of Americans rush from one state to another, one thing you just have to keep in mind is property taxes. That’s why in this post, we’re going to uncover the states with the worst property taxes in the country.

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PYMNTS

AUGUST 4, 2020

Consider the roughly 200 Rhode Islanders who recently received tax refund checks signed by Mickey Mouse and Walt Disney. Their signatures took the place of Rhode Island General Treasurer Seth Magaziner and State Controller Peter Keenan ’s John Hancocks, which should have been on the checks.

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CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

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TaxConnex

NOVEMBER 16, 2021

The explosive growth of online sales means that state and local governments are searching for ways to recoup the tax revenue that they have determined they are owed. States are eager to take a portion of these sales and include them in their general tax revenues. In 2018, the landmark Supreme Court decision South Dakota v.

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Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

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Anders CPA

SEPTEMBER 28, 2022

Even if a state doesn’t require sales tax on SaaS, the company may still need to file if they pass a certain threshold of sales. State Tax Considerations for SaaS Companies. For tax purposes, the definition of SaaS may differ from state to state. Does My State Tax SaaS? Those states that clearly tax SaaS are listed below.

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CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

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CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.

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Going Concern

NOVEMBER 17, 2022

Those falsely accused of fraud were subjected to quadruple penalties and collections techniques such as wage garnishment and seizure of income tax refunds. Related articles: Rhode Island Believes In Second Chances, Even for Deloitte. Rhode Island Is Still Holding a Grudge Against Deloitte. Lots of luck, Michigan.

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CPA Practice

MARCH 16, 2023

Here are some highlights from the latest Top 100… We’re keeping an eye on Heather Satterley, CPA ( @hsatterley on Twitter) from Portsmouth, Rhode Island, who this week took a giant leap of 254 spots from #334 to land at #80! Thank you to all who have been with us since the beginning and to those who have joined us along the way!

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PYMNTS

MARCH 31, 2020

In an interview with Karen Webster, Lisa Kuscu, co-owner (and emergency room nurse) with her husband Mustafa of Providence, Rhode Island restaurant Noodles 102 , detailed life before and during COVID-19. Cutting payroll taxes would be helpful, she said, and would help keep costs down enough to keep employees on board.

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PYMNTS

JULY 2, 2020

David Cicilline (D-Rhode Island), chairman of the House Antitrust Subcommittee, has asked each of the company’s executives to testify before completing its investigation and crafting reforms that would regulate the digital market. Cook testified in 2013 about Apple’s payment of taxes, CNBC reported.

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PANALITIX

MARCH 31, 2021

This is in addition to their oversight of matters of compliance, accounting and tax). From an accountant in Rhode Island, USA). A CFO is a leader with intimate understanding of the corporate vision, goals and plans. They support decision-making to enable the achievement of business goals. From an accountant in Oregon, USA).

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CPA Practice

MARCH 21, 2024

Property tax compliance can be just as puzzling, and getting it right in some states can be more complex than in others. This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. This helps explain why many companies find property tax compliance time-consuming.

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PYMNTS

MAY 30, 2019

trade representative] to remove key categories from the final list of taxed goods, Apple’s representative will have to submit a request for each particular product they’d like to be excluded, and provide a rationale as to why it should be excluded from the tariff list,” the note said.

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ThomsonReuters

JANUARY 30, 2023

Table of contents: Minimum wage Paid leave Tax credits Unemployment Earned wage access Pay transparency Tipped workers Worker classification State-run retirement plans Work scheduling 1. Rhode Island. Tax credits State legislators are looking to offer businesses tax incentives for certain benefits to employees.

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CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

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CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

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ThomsonReuters

JUNE 15, 2022

In the middle of a busy legislative season, several states have made important changes in their tax code that practitioners across the nation will want to be aware of in order to service clients who may have multistate needs. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. Florida Sales Tax Holiday.

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