Sales tax and accounting services

TaxConnex

But does tax preparation incur sales taxes – and if it does, where and how? For some 90 years, states have levied sales tax on goods (West Virginia was the first to do so , in 1921). Lobbying is a major reason that professional services generally don’t incur sales tax nationwide).

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Getting Sales Tax Registrations Right

TaxConnex

Sales tax is more complicated than ever, especially in a post-Wayfair world. And what’s worse is that everyone who says they’re simplifying sales tax is still leaving the hardest parts – and the liability – up to you. sales tax registrations ?will

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5 Crucial Pieces of Your Sales Tax Compliance Filing Process

TaxConnex

Once you’ve determined your requirement to collect and remit sales tax, you’ve set-up a process to charge sales tax, and you have registered with each required state, you need to consider how you will manage the return filing process. sales tax compliance sales tax filing

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Top Reasons to Change an Outsourced Sales Tax Provider

TaxConnex

F r om time to time, sales tax outsourcing relationships fail to work properly, and a change is necessary. As the sales tax outsourcing relationship progresses over time, sales and marketing messages give way to the realities of the operational relationship. more sales and so on.

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Path to Becoming a CFO: Howard Wilson, CFO at PagerDuty

Speaker: Howard Wilson, CFO at PagerDuty and Jeff Epstein, Veteran Tech CFO

Join us for this fascinating conversation between veteran tech CFO Jeff Epstein and PagerDuty CFO Howard Wilson. Howard’s path to CFO is unlike any other we have seen over the two years this series has been running. Until becoming CFO at PagerDuty, Howard had not held traditional finance and accounting positions. This session offers a glimpse into an alternate path to the more often observed Big Four or investment banking backgrounds.

What’s new for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Inflation and other spiraling prices have driven states’ lawmakers to consider relief via sales and other taxes. and nearly halve the state sales tax on groceries, to 3.5%.

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Subscription Billing and Your Sales Tax Obligation

TaxConnex

The model does come with steady sales tax obligations and risks though, and if not properly understood, it could lead to significant sales tax risk in the business. Sales tax on groceries and prepared food also vary widely state to state.

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Software, SaaS and Sales Tax

TaxConnex

If your business sells software or software-as-a-service (SaaS), you deal with one of the most complex sales tax situations, potentially without even realizing it. Regardless of whether you have sales tax nexus or not, many businesses assume that sales tax doesn’t apply to software or SaaS.

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Sales Tax Can Be Scary

TaxConnex

It may be the season of ghosts and goblins, but sales tax obligations last all year, and as many would admit, keeping track of all your sales tax obligations can be quite scary. What’s your shield when the sales tax monster comes after you? in sales).

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Deadlines galore: One of the biggest challenges of sales tax

TaxConnex

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). When filing sales tax returns, due dates can include the 7th, 10th, 15th, 20th, 30th?and

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Be an Odd Duck: Work on, Not in Your Public Accounting Practice

Speaker: Tom Bowman, CPA of Bowman & Company

It is possible to run an Accounting Firm and never do tax returns or financial statements! Tom Bowman, Owner of Bowman & Company, CPA, PC shares his journey and 10 step process for going from Technician to Business Owner.

Sales Tax Complexity Snapshot: Chicago

TaxConnex

Sales tax is complex for any business selling into multiple states. To further complicate this, Chicago does not apply sales tax to SaaS rather they apply a personal property lease transaction tax which is currently 9%. sales tax compliance sales tax filing

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2021: The Year in Review – Sales Tax

TaxConnex

Sales tax in 2021, though, seemed to move in only one direction: It intensified as even more states hopped on the economic nexus bandwagon and the sales tax burden for online businesses grew. Here’s a look back at some of 2021’s biggest developments in sales tax.

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What’s new: state sales and use taxes

TaxConnex

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. sales tax compliance sales tax news

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Sales Tax Automation Mistakes

TaxConnex

If your business has an obligation to collect and remit sales tax, then you know how complex the process can be. Automating part or all of the sales tax process is sometimes necessary to maintain compliance. Let’s first look at the overall sales tax process.

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Path to Becoming a CFO: David Goulden, CFO at Booking Holdings

Speaker: David Goulden, CFO at Booking Holdings, and Jeff Epstein, Veteran Tech CFO

Join us for this conversation between David Goulden, CFO at the world’s leading provider of online travel and related services, Booking Holdings.

Crypto, NFTs and sales tax: What we know so far

TaxConnex

Sales tax has a universe of changing conditions. What are the sales tax ramifications? has possibly the most complex sales tax regime. Each state sets its own sales tax rules, often with widely varying approaches. But again, what does that mean for sales tax?

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State Discounts for Sales Tax

TaxConnex

Collecting and remitting sales tax can be onerous – and expensive – for any business. That’s one reason some states give a collection discount to help with the costs of managing sales tax. Conditions can change frequently – as often happens in the world of sales tax.

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4 Reasons to Outsource Sales and Use Tax

TaxConnex

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.

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Sales Tax for Subscription Boxes

TaxConnex

Niche products lead the industry, a fifth of total sales. With booming sales across the country, businesses need to focus on if and how these subscription boxes are taxed. How is sales tax managed for this growing industry? How will you charge sales tax?

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What’s new in state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates, with a special focus this month on how more states and jurisdictions look to roll back sales tax. Not all sales taxes are on a downward slope though.

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How to Respond to Sales Tax Notices

TaxConnex

You may think your business is in full compliance with your sales tax obligations nationwide – and you may well be – but America’s 10,000-plus sales tax jurisdictions love to send notices. Notices are a standard part of managing sales tax. sales tax compliance sales tax

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Sales Tax and Vitamins/Dietary Supplements

TaxConnex

You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements. So how do you manage your sales tax liability if you are selling vitamins, dietary supplements or other items that fall into this undescriptive category?

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Do you really understand economic nexus for sales tax?

TaxConnex

But what exactly is economic nexus – and, more importantly, have you kept up with its constant changes in the sales tax realm? Sales tax nexus is the connection your business has with a state or local taxing jurisdiction. that had a state-wide sales tax had enacted economic nexus.

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Sales Tax and Valentine's Day

TaxConnex

And it might land right on your company’s bottom line after sales and use tax obligations. If your business sells popular Valentine’s Day items online, you should know a few rules related to sales tax and taxability. for all your sales tax compliance needs.

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What's New in Sales and Use Tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Online sales dipped in May, yet sales tax revenues seem to remain robust thanks in part to online sales. 1 and will source online sales to their destination.

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Excise Tax versus Sales Tax

TaxConnex

Soon after you start dealing with states’ sales tax, you’re going to also run into another term: excise tax. And is it different from sales tax? sales tax), for instance, is a business privilege tax on the gross receipts of virtually any economic activity carried on in the state.

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Sales tax and M&A: Don't wait until it's too late

TaxConnex

But sometimes, the deal is held up for various reasons – including sales tax exposure within the company being acquired. But many business owners have been gut-punched during due diligence when an unanticipated sales and use tax?deficiency Determining sales tax risk.

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Options in Mitigating Past Sales Tax Liability

TaxConnex

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?

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COVID Surcharges and Sales Tax

TaxConnex

Lost sales, expenses for cleaning, more time and money for employee protection and training are just some of the reasons for businesses to claim they now have to charge extra to pay for responding to the pandemic (aka, “COVID surcharges”). sales tax compliance sales tax

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Unexpected Growth Can Mean Sales Tax Obligations

TaxConnex

But don’t forget that success that comes from selling into more states can also expand your sales tax burdens. Businesses that sell into multiple states or jurisdictions have to pay attention to sales tax thresholds, and it’s not a one-time project. to collect sales tax because?they’ve?reached

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Top Skills Needed to Manage Sales Tax

TaxConnex

The majority of businesses still manage their sales tax obligations with internal staff, but do they have what it takes to manage sales tax effectively? Most businesses, especially smaller ones, don’t have or can’t afford a full sales tax department in these days of tight resources.

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Understanding the Pieces to Your Sales Tax Compliance Puzzle

TaxConnex

In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules. sales tax or use tax).

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Seeing green: States learn the importance of sales tax

TaxConnex

Economic nexus is now pretty much the law of the land for all states with a statewide sales tax. States – and their cities and towns that receive portions of their sales tax revenue – have scored big. The sales tax take for Lead, SD has more than doubled in five years.

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Vendor concessions/discounts can help pay to outsource sales tax obligations

TaxConnex

Collecting and remitting sales tax to states and other tax jurisdictions is time consuming and can be expensive. collection discount to help with the costs of managing sales tax.?If Slightly more than half the states offer various discounts for sales tax filers. (It’s

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NOMAD States: The Latest on Sales Tax

TaxConnex

NOMAD and sales tax – I’m sure you’ve heard it before. When it relates to sales tax, the NOMAD states refer to the five American states without a statewide sales tax: New Hampshire, Oregon, Montana, Alaska, and Delaware. Mike Dunleavy has said he’d support a statewide sales tax.

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Monthly State Sales and Use Tax Update

TaxConnex

There’s always something changing in the world of tax, especially sales tax. There are currently five states with no state-level sales tax. Alaska has long heard rumblings of a statewide sales tax. The gross sales tax take finished 15.9%

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Complexities of Sales Tax: Leasing

TaxConnex

Sales tax is complicated no matter the industry you are in. Some sales tax concepts for the leasing industry are quite simple while others are more complicated. This property that is owned by the lessor creates sales tax nexus wherever the equipment resides. sales tax?off

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Preparing Your Business for Sales Tax Holidays

TaxConnex

Many states use sales tax holidays to waive or reduce sales tax on various items. Location, location, location is the rule when it comes to sales tax holidays. You may or may not have to participate in a sales tax holiday in some states. your sales tax obligations?and

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5 Common Sales Tax Mistakes That Can Put You At Risk for Non-Compliance

TaxConnex

You’re trying to run a business and sales tax is not at the forefront of your plans. Make sure you aren’t making these common mistakes to ensure you have sales tax in order and aren’t at risk for penalties and fees in the case of an audit.

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