ThomsonReuters

SEPTEMBER 19, 2023

With the recent start to the NFL season, sports wagering is a popular topic of conversation among football fans. Earlier this summer, Kentucky, North Carolina, and Vermont all enacted laws that legalize and tax sports wagering activities. In June,  Vermont House Bill 127  legalized sports wagering in Vermont.

Sports 52

Sports North Carolina Vermont Missouri 52

MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

Tax 130

Tax bookkeeping Account accountant 130

CPA Practice

MAY 26, 2023

On Thursday, May 25, Governor Ron DeSantis of Florida signed a bill to approve legislation that provides six sales tax holidays in the state. The bill also establishes numerous new permanent Florida sales tax exemptions. All will require affected businesses to adapt in one way or another.

Florida 98

Florida Sales Tax Agriculture 98

CPA Practice

MARCH 8, 2024

There are currently two annual sales tax holidays in Alabama: A severe weather preparedness tax-free weekend in February and a back-to-school tax-free weekend in July. A new tax holiday will join them starting in 2025 should House Bill 257 become law: The twice-yearly Alabama Adventure Awaits sales tax holiday.

Alabama 52

Alabama Sales Tax Florida 52

TaxConnex

SEPTEMBER 16, 2021

Among the findings: The average e-commerce order was $78.09, including taxes and shipping. Electronics lead the way for products with an average order of $129.72, followed closely by sports+outdoor at $111.44. Sales Tax Obligations Comes Into Play. It can be tricky to determine who owns the sales tax responsibility.

E-commerce 179

E-commerce Sports Sales Tax 179

TaxConnex

DECEMBER 13, 2022

How big were online sales on Monday, Nov. Defying expectations of an off year, Cyber Monday broke online sales records, with U.S. Electronics e-sales were up 391%, computers up 372%. Online sales of sporting goods, appliances, books and jewelry all more than quadrupled. consumers spending about $11.3 billion, up 5.8%

Pennsylvania 130

Pennsylvania Sports Sales Tax 130

Anders CPA

JULY 26, 2022

The Missouri Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Missouri, the tax-free holiday starts at 12:01 a.m. During this period, qualified purchases are exempt from sales tax. WHAT ITEMS ARE EXEMPT FROM SALES TAX? CONTACT ANDERS.

Missouri 98

Missouri Tax Sports CPA 98

inDinero Tax Tips

AUGUST 29, 2023

Don’t Even Try Deducting These 13 Non-Deductible Business Expenses Frequently Asked Tax Deduction Questions Conclusion What Are the IRS Rules for Non deductible Business Expenses? There are many ways businesses can lower their tax liability. For another example, property taxes on your business’s office space are deductible.

Tax 95

Tax Entertainment Real Estate bookkeeping services 95

Patriot Software

NOVEMBER 21, 2022

Want to encourage employees to sport your company’s apparel? Employee discount programs for small business come with several business benefits, like increased retention and sales. Or, looking for an employee benefit that’s appealing to new hires? You may consider offering employee discounts.

Sales 71

Sales Sports payroll tax payroll 71

CPA Practice

FEBRUARY 6, 2023

Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits. Under new federal tax credits, SUVs, trucks and vans can cost up to $80,000 and still qualify for a $7,500 credit.

Tax 128

Tax Washington Sports Transportation 128

Anders CPA

AUGUST 2, 2023

The Missouri Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Missouri, the tax-free holiday starts at 12:01 a.m. During this period, qualified purchases are exempt from sales tax. WHAT ITEMS ARE EXEMPT FROM SALES TAX?

Missouri 52

Missouri Illinois Tax Sports 52

CPA Practice

MAY 15, 2024

From online programs for tax and accounting functions, to document automation and workflow management processes, as well as tools for collaboration, mobile productivity and office hardware. The result: Drake wins this category again this year, showing the loyalty many professionals have for this company’s tax systems.

Technology 119

Technology accounting firms cpas Account 119

CPA Practice

FEBRUARY 3, 2023

Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits. Under new federal tax credits, SUVs, trucks and vans can cost up to $80,000 and still qualify for a $7,500 credit.

Tax 95

Tax Washington Sports Transportation 95

Anders CPA

JULY 26, 2022

The Illinois Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Illinois, the sales tax holiday starts at 12:01 a.m. During this period, qualified purchases can be purchased at a reduced sales tax rate. What items are exempt from sales tax?

Illinois 52

Illinois Tax Missouri Sports 52

MyIRSRelief

APRIL 3, 2023

Small business owners often find themselves juggling multiple responsibilities, from managing employees to overseeing operations to marketing and sales. They can also help prepare tax returns, file necessary forms, and represent the business in the event of an audit. Contact us today for all you tax and accounting needs.

Account 130

Account accountant accounted accounting and finance 130

CPA Practice

APRIL 17, 2023

While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. The result: Drake wins this category again this year, showing the loyalty many professionals have for this company’s tax systems.

quickbooks 130

quickbooks payroll Technology audit 130

CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? What is a sales tax holiday?

Sales 119

Sales Tax Nevada West Virginia 119

xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . What is a tax deduction?

business tax 97

business tax Tax Education tax preparation 97

PYMNTS

AUGUST 10, 2020

the New York-based athletic retailer, reported comparable store sales increased by 18 percent in the second quarter (Q2) that ended Aug. 1 as the chain reopened and sales unexpectedly increased. Foot Locker Inc., Shares of Footlocker stock rose to $30.50 per share in premarket trading Monday (Aug. 10), up from $27.48

Sales 54

Sales New York Sports Washington 54

Cherry Bekaert

APRIL 4, 2024

The IRA created and expanded tax incentives for individuals who own or rent a home to invest in energy-saving home improvements. These individuals can now earn a percentage of their money spent back through federal energy tax credits. Taking advantage of energy tax credits can seem like a daunting task.

auditor 90

auditor tax return audit Tax 90

PYMNTS

JULY 16, 2018

The Commerce Department said on Monday (July 16) that retail sales increased by 0.5 In addition, gas prices and vehicle sales also bolstered the increase. At the same time, however, sales at department stores dropped by 1.8 During that quarter, retail sales increased 1.9 All in, sales were up.8

Sales 40

Sales Retail Sports Healthcare 40

Accounting Today

OCTOBER 10, 2023

Staffing and AI; a tab for online sports bets; risk factors; and other highlights from our favorite tax bloggers.

Sports 51

Sports Tax tax preparation Sales 51

PYMNTS

FEBRUARY 21, 2019

s Housing, Communities and Local Government Committee is calling on internet retailers to pay higher taxes to help struggling offline retailers in the country’s shopping districts. government agency called out Amazon , Asos and Boohoo Group , arguing they should pay more taxes since traditional retailers are losing business to them.

Government 53

Government Tax Sports corporation tax 53

ThomsonReuters

DECEMBER 1, 2023

Therefore, helping business clients save money and reduce their tax burden by expensing property they’ve purchased for their company and claiming deductions for  depreciation  or  amortization  of assets is critical. Under the Tax Cuts and Jobs Act (TCJA), the 100% write-off of eligible property expired Dec. What is Form 4562?

tax return 97

tax return Tax Transportation Non-Profits 97

Menzies

FEBRUARY 10, 2023

This approach has been widely written about in the world of sport, but did you know that it can also applied to the world of business. If we consider the three variables in business to be (1) sales, (2) gross profit margin and (3) overheads how might a 1% increase in (1) and (2) and a 1% reduction in (3) impact the business?

Sports 52

Sports chartered accountant Sales Gaming 52

PYMNTS

APRIL 16, 2018

retail sales bounced back a bit in March, according to figures just released by the Commerce Department, The Wall Street Journal reported. Auto sales were looking particularly heathy, with a 2 percent bounce in March. Sales looked particularly strong at grocery stores, restaurants, bars and drug stores.

Sales 44

Sales Retail Sports Tax 44

PYMNTS

JUNE 14, 2018

Consumer confidence seems to have returned in a big way in May as retail sales soared to their highest level since November 2017, according to news from The Wall Street Journal. All in, sales were up.8 Areas that was marked as increases included car sales, building supplies, sporting goods, healthcare and clothing.

Sales 43

Sales Retail Sports Healthcare 43

Withum

MARCH 16, 2022

Persons in any sector of the Russian economy as to be determined by the Secretary of the Treasury; exportation, reexportation, sale, or supply, directly or indirectly, of U.S. Business Tax Services. Person to any person located in Russia; new investments by U.S. dollar-denominated banknotes from the United States or by a U.S.

Sports 121

Sports Government Finance tax services 121

CPA Practice

MARCH 26, 2024

He also claimed his company’s payroll was $1,035,091 in the previous year on an IRS tax form. Each application requested the same loan amount — $198,990 — backed up with a phony number of employees, payroll income, sales revenue and corporate tax returns for pre-pandemic years, according to Bailyn.

Real Estate 124

Real Estate Florida payroll Government 124

CPA Practice

JANUARY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? What is a sales tax holiday?

Sales 78

Sales Nevada Tax West Virginia 78

CPA Practice

FEBRUARY 3, 2023

She used the fraudulently obtained funds to lease a 2021 Bentley Bentayga (sales price, $181,000), rent a Biscayne Bay apartment, pay for cosmetic dermatology procedures and refinish her designer shoes, the indictment says. The Italian-made sports car — purchased for $318,000 — was not on the list of permissible expenses, needless to say.

Florida 98

Florida New Jersey payroll Idaho 98

CPA Practice

MARCH 2, 2023

For various loan applications totaling more than $4 million, Barosy fabricated prior-year business expenses, net profits, and employee payrolls, and submitted bogus IRS tax forms to secure the payments for himself and other people, according to an indictment and trial evidence. million in sales,” according to court records.

Florida 98

Florida Sports payroll Government 98

PYMNTS

APRIL 23, 2020

After previously indicating that he supported increased tax rates but was against a wealth tax concept, billionaire investor Leon Cooperman said in a televised interview that the coronavirus emergency will “likely” change capitalism permanently and taxes will need to be increased before long, according to a CNBC report.

Real Estate 52

Real Estate Sports Tax Government 52

KROST

FEBRUARY 16, 2021

What You’ll Find Inside this Issue: Section 1244: Claiming Ordinary Losses for Sales of Qualified Small Business Stock By Matthew Weber, CPA, MAcc. Lender Management, LLC Tax Case Study By Adrian Ong, CPA; Frank Xu, CPA; and Adam Saad. Tax , Tax Specialty Services , Financial Services Sector. Luis (Lou) A.

CPA 52

CPA Real Estate Tax Entertainment 52

PYMNTS

NOVEMBER 24, 2020

Fleeting because the company moved its anniversary sale from Q2 to Q3 this year and most of that business was online. In fact, 60 percent of the sales were conducted online with 80 percent of that number coming from loyalty program members. Digital sales accounted for $1.6 billion in the quarter.

Retail 88

Retail Sports Sales Tax 88

Ronika Khanna CPA,CA

DECEMBER 9, 2021

A gift can be given around the holidays, on birthdays, after closing a sale or any other time as a simple thank you. Of course, if you are buying gifts on behalf of your business, you should know whether they qualify as tax deductible expenses. Learn more. Learn more.

Entertainment 52

Entertainment tax return audit auditor 52

PYMNTS

FEBRUARY 16, 2018

PepsiCo turned some heads with its quarterly earnings call announcement that it would take some of its tax reform windfall and reinvest it in improving the firm’s eCommerce efforts. Their observations thus far – and the reactions to them – has been worth about $1 billion in annualized retail sales. According to PepsiCo CEO Indra K.

Sales 49

Sales Retail E-commerce Start-ups 49