TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. 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. Wholesale sales or sales of exempt goods are not subject to the fee.

Sales 177

Sales Tax Oklahoma Illinois 177

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.

Sales 180

Sales Rhode Island South Dakota Tax 180

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. Food for thought. Time for a renovation?

Sales 192

Sales Tax Colorado Massachusetts 192

TaxConnex

NOVEMBER 9, 2021

You might think that collecting the tax and filing a tax form is all you need to be sales tax compliant. Ideally, all your sales tax calculations are managed in one system to produce a single report each month with details of all your sales and use tax liabilities. Jurisdiction correspondence.

Sales 185

Sales Tax general ledger tax return 185

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? As with most details of sales tax, much depends on the situation, jurisdiction and new laws.

Rhode Island 130

Rhode Island West Virginia Alaska North Dakota 130

TaxConnex

JANUARY 28, 2021

There’s always something changing or new going on in the world of tax, especially sales tax. Nationwide , the Streamlined Sales Tax Governing Board has made amendments to the Streamlined Sales and Use Tax (SST) Agreement to revise its amnesty-related provisions.

Sales 149

Sales Tax Alaska Illinois 149

MyIRSRelief

MAY 15, 2024

Nonprofit Tax Service by Mike Habib, EA Nonprofit organizations play a crucial role in society, offering valuable services and advocacy. However, managing tax compliance can be a significant challenge due to the complex nature of tax laws and regulations.

Tax 130

Tax payroll tax payroll tax preparation 130

TaxConnex

OCTOBER 13, 2020

Companies that perform services often see themselves as tax exempt, and in many cases that is true, but there are certain states andsituations in which that is not the case. Gain a better understanding of your sales and use tax obligations with these frequently asked questions we have received from businesses that provide services.

Sales 184

Sales South Dakota Tax Hawaii 184

TaxConnex

DECEMBER 14, 2023

In sales tax calculation, you deal with the “hard” and the “less-hard.” Figuring out sales tax obligations for goods (aka, tangible personal property, or TPP) is the less-hard part; you merely have to bear in mind that every state that taxes TPP does it a little differently. What’s a service?

West Virginia 206

West Virginia Virginia Kentucky Minnesota 206

CPA Practice

JANUARY 30, 2024

sales tax rate changes reached a 10-year high in 2023, proving once again that it will be challenging for businesses to meet their ever changing compliance obligations. This is according to data in the 2023 End-of-Year Sales Tax Rates and Rules report, which is conducted annually by Vertex a provider of tax technology solutions.

Sales 73

Sales Tax auditor tax services 73

TaxConnex

OCTOBER 1, 2020

sales tax post- Wayfair is confusing enough. You’ve heard it before that US sales & use tax laws are some of the most confusing, but how are things done with our neighbor to the north? The tax rates. Collectively, jurisdictions in Canada do impose less diverse sales tax obligations than U.S.

Sales 131

Sales Tax tax return income tax 131

Withum

OCTOBER 9, 2023

On October 4, 2023, Massachusetts enacted tax legislation (H.4104), The legislation adopts a single sales factor apportionment formula for all corporations and also makes changes for how financial institutions source its income from investment activities and trading activities.

Massachusetts 72

Massachusetts Sales Tax tax return 72

Withum

JULY 18, 2022

Wayfair eliminating the physical presence requirement for a state to impose a sales tax on sales of goods or services in that state. Out-state sellers, also called remote sellers, must collect and remit sales tax on goods and services sold in all states, even if they do not have a physical presence.

South Dakota 118

South Dakota Sales Tax Missouri 118

Insightful Accountant

FEBRUARY 21, 2024

State nexus laws are crucial in tax advisory. Even without sales tax services, SALT law changes can signal nexus impacts. Practitioners often overlook SALT law changes unless specialized, but clients expect awareness.

Tax 105

Tax tax services Sales 105

Cherry Bekaert

AUGUST 31, 2023

As digital business advancements help technology companies grow and expand, state tax authorities continuously develop new rules and regulations to keep up with the market. Contact Us The post Reduce Your Technology Company’s Sales Tax Risk appeared first on Cherry Bekaert.

Technology 52

Technology Sales Tax tax return 52

Withum

SEPTEMBER 16, 2022

It is no surprise that states are seeing significant growth in sales tax revenue, a trend fueled by changes in consumer spending during the pandemic. The third reason for higher sales tax revenue was the Wayfair decision in which the Supreme Court expanded the physical nexus requirement to include economic nexus (e.g.,

Sales 80

Sales Retail Tax South Dakota 80

Cherry Bekaert

MAY 22, 2024

Contributor: Michael Wallach, Senior Manager, Tax Services Established by the Tax Cuts and Jobs Act, the Opportunity Zone program has been a focal point for investors seeking tax incentives while simultaneously revitalizing economically distressed communities.

Tax 115

Tax Real Estate Sales tax services 115

Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? international tax rules. income tax.

Tax 101

Tax income tax Non-Profits corporation tax 101

Withum

JUNE 8, 2022

The IRS’ “Dirty Dozen ” is an annual list warning taxpayers of abusive tax arrangements, schemes, scams, and shams. If challenged by the IRS, accuracy-related and civil fraud penalties could amount to 75% of any underpayment of tax. Business Tax Services. What if I do nothing? Contact Us. Contact Us.

Sales 120

Sales tax services business tax audit 120

TaxConnex

MARCH 3, 2022

Understanding the taxability of your company’s products or services is one of the key steps to complying with sales and use tax laws. Services” are not tangible and can be an entirely different animal in terms of taxability. legislation that excludes some payment processing services from tax.

Indiana 187

Indiana Connecticut Nebraska Maryland 187

PANALITIX

JULY 21, 2021

Random sales statistics, little nudges. I came upon some “sales” statistics* on the interweb (so we know they’re legit). If you’re sending out an updated engagement letter for straightforward tax services to a client you’ve been working with for a few years – you might not need to “tell a story” to retain them as clients.

Sales 130

Sales tax services Tax Account 130

PANALITIX

JULY 20, 2021

Random sales statistics, little nudges. I came upon some “sales” statistics* on the interweb (so we know they’re legit). If you’re sending out an updated engagement letter for straightforward tax services to a client you’ve been working with for a few years – you might not need to “tell a story” to retain them as clients.

Sales 130

Sales tax services Tax Account 130

TaxConnex

SEPTEMBER 1, 2022

Wayfair, Inc et al , but many businesses are still trying to figure out how to manage sales tax obligations brought on by this decision. Some examples: Iowa: Gross sales to the state over $100,000; no annual transaction threshold. Mississippi: $250,000 sales; no transaction threshold.

South Dakota 199

South Dakota Mississippi Iowa Sales 199

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

Tax 98

Tax tax return income tax audit 98

CPA Practice

FEBRUARY 24, 2023

Tax season is already in full swing and accounting firms across the country are working non-stop to meet the April filing deadline. Firms often don’t have a sufficient year-round client base to support the staffing levels they need during tax season. By Matt Bowen. The industry’s extreme seasonality can significantly hinder growth.

accounting firms 128

accounting firms Tax Account accountant 128

Withum

AUGUST 10, 2023

On August 3, 2023, Treasury and the IRS issued proposed regulations and a press release identifying monetized installment sale transactions and substantially similar transactions as Listed Transactions. It has previously included monetized installment sales on its annual Dirty Dozen list of common tax scams and schemes.

Sales 52

Sales tax return Tax tax services 52

Withum

FEBRUARY 9, 2022

The qualified small business stock (QSBS) exclusion generally provides for a full or partial exclusion of capital gain realized on the sale of QSBS. Primary and Secondary Sales of Stock. If you have any questions please contact a member of our business tax team. Business Tax Services. Contact Us. Contact Us.

Sales 78

Sales Tax business tax tax services 78

TaxConnex

NOVEMBER 11, 2022

November 11, 2022 - TaxConnex™ , a technology-enabled sales tax compliance outsourcing provider, shared that they are exhibiting at Thomson Reuters SYNERGY 2022 Conference for Corporate Professionals November 13-16. TaxConnex helps eliminate the sales tax burden – no matter how many states you’re in or how often regulations change.

Washington 130

Washington Tax Sales tax services 130

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. Not all sales and not all taxpayers can qualify to use the installment sale method.

Real Estate 109

Real Estate tax planning Construction Tax 109

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.

tax return 180

tax return Tax Sales tax services 180

CPA Practice

FEBRUARY 27, 2024

These processes often include accounting and CFO services, financial planning, transaction services, corporate tax compliance and, increasingly, state and local tax compliance, including sales and use tax reporting. One of its core growth services is sales tax management.

Technology 52

Technology Tax Sales tax return 52

TaxConnex

DECEMBER 15, 2022

Gain insight into Brian's career and his plans for our future as well as how sales tax has evolved over the years. My career has predominantly been in the selling field and over the last 20+ years selling sales tax services. For the first 9 years I was the sole sales and marketing person in the business.

Tax 130

Tax Sales tax services Start-ups 130

Withum

JUNE 6, 2022

Section 1202 provides for the full or partial exclusion of capital gain realized on the sale of QSBS. The taxpayer in PLR 202221006 (March 3, 2022) is a pharmaceutical distributor that engages in the retail sale of a limited number of drugs. The IRS noted that all of the taxpayer’s revenues are generated by the sale of drugs.

Tax 126

Tax income tax Pharmaceutical Manufacturing 126

Withum

APRIL 5, 2022

When negotiations began on the Build Back Better Act (BBBA) in Congress, the tax community, including yours truly, was almost certain that tax rates were going to increase in 2022. However, recent breakdowns in negotiations regarding the specifics of BBBA have almost assured that the 2017 tax cuts are here to stay. What’s in It?

Tax 119

Tax income tax CPA tax services 119

Withum

JUNE 8, 2022

The Infrastructure Investment and Jobs Act (IIJA), enacted into law on November 15, 2021, reinstated and modified two Superfund excise taxes, effective July 1, 2022. The first is the tax on chemicals under section 4661 and the second is the tax on imported substances under section 4671. The IIJA lowered this threshold to 20%.

Tax 121

Tax Manufacturing tax return tax services 121

Intuitive Accountant

OCTOBER 18, 2022

Use this script to create a winning sales tax service strategy for your firm.

Tax 98

Tax tax services Sales 98

TaxConnex

NOVEMBER 23, 2021

But what happens when a world still rocked by the pandemic continues to make the majority of its sales online? eCommerce has become a growing and important aspect of retail sales. In fact - Cross-border eCommerce sales worldwide grew more than 20% in 2020 while U.S. But how does this impact your sales tax obligations?

Tax 180

Tax Sales tax return Retail 180