Is Your Income Tax Withholding Adequate?

RogerRossmeisl

When you filed your federal tax return this year, were you surprised to find you owed money? Receiving a tax refund essentially means you’re giving the government an interest-free loan. The post Is Your Income Tax Withholding Adequate?

Colorado: Fee or tax?

TaxConnex

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. Payment is due at the same time the seller’s sales tax return is due. While termed a fee, it functions as a tax,” adds the Tax Foundation.

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Tax Fraud Blotter: Contemptible

Accounting Today

Tax crimes Tax preparation Tax fraud Tax scams Money laundering Tax-related court cases

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Calculating Corporate Estimated Tax

RogerRossmeisl

The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated payments. The post Calculating Corporate Estimated Tax appeared first on Roger Rossmeisl, CPA.

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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.

Tax Fraud Blotter: Three times the fun

Accounting Today

Tax crimes Tax preparation Tax fraud Tax scams Embezzling Tax-related court cases

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IRS management blamed for tax return backlog

Accounting Today

Income taxes Tax returns TIGTA IRS Tax

Understanding use tax

TaxConnex

One such phrase is “sales and use tax.”. We sure know what “sales” tax is. What about Use Tax? Use tax is defined ?as as a tax on the storage, use or consumption of a taxable item or service on which no sales tax has been paid. Two types of use tax.

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Tax Fraud Blotter: Smiley face

Accounting Today

Tax crimes Tax preparation Tax fraud Tax scams Tax evasion Tax-related court cases

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Tax Fraud Blotter: Clip joints

Accounting Today

Tax crimes Tax preparation Tax fraud Tax scams Tax evasion Tax-related court cases

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IRS continued to delay business tax refunds from pandemic

Accounting Today

Tax refunds Tax credits TIGTA IRS Coronavirus Tax Tax relief

Predicting What’s Next for Firms & Collaboration Tech

Employees leaving. Client demands increasing. That’s the reality for many firms. Put your firm in a position to win by looking at how collaboration and the tools we use have evolved and what the future holds. Avoid pitfalls and implement best practices to give your firm a competitive edge. Download the whitepaper today!

Tax Fraud Blotter: Those prison blues

Accounting Today

Tax crimes Tax preparation Tax fraud Tax scams Embezzling Tax-related court cases

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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. What is excise tax? And is it different from sales tax? A different kind of tax pie. Federal, state, and local governments can all impose excise taxes.

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Americans abroad renounce citizenship to escape tax law's clutches

Accounting Today

International taxes IRS Tax Tax laws

Patagonia billionaire who gave up company skirts $700M tax hit

Accounting Today

Tax exemptions Tax Estate taxes Tax breaks Capital gains taxes

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Crowdfunding complexities may produce tax surprises

Accounting Today

Tax planning Tax Tax regulations

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Five Tax Implications of Divorce

RogerRossmeisl

In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Individual Tax BriefsAre you in the early stages of divorce?

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Tax lessons from Charlie Sheen

Accounting Today

IRS Tax Tax-related court cases

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3 Tax Breaks for Small Businesses

RogerRossmeisl

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Pass-through business entities report tax items to their owners, who then.

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Colorado now accepts crypto for taxes

Accounting Today

Technology Tax Cryptocurrencies

Corporate tax departments expecting changes

Accounting Today

Corporate taxes Sales tax Thomson Reuters Tax prep software Tax

How Will Revised Tax Limits Affect Your 2022 Taxes?

RogerRossmeisl

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. Below are some Q&As about tax amounts for this year.

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Sales tax receipts decline as inflation pinches pockets

Accounting Today

Inflation State tax revenues Tax State taxes

Tax Fraud Blotter: Frauds uprooted

Accounting Today

Tax-related ID theft Tax crimes Tax preparation Tax fraud Tax scams Tax-related court cases

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Tax Fraud Blotter: Garbage in…

Accounting Today

Tax crimes Tax preparation Tax fraud Tax scams Tax evasion Tax-related court cases

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October is the cruelest month: Tax pros discuss the second season

Accounting Today

Tax preparation Tax preparers Tax Tax season 2022 Tax season

Tax Fraud Blotter: Vital cogs in fraud

Accounting Today

Tax-related ID theft Tax crimes Tax preparation Tax fraud Tax scams Tax-related court cases

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Can remote employees create sales tax nexus?

TaxConnex

A lot of times regarding sales tax, the answer to any question is, “It depends.” Covid created unique conditions for companies that must collect and remit sales tax, including many temporary breaks regarding worker locations. sales tax nexus sales tax compliance

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IRS distributed most Child Tax Credit payments correctly, but millions missed out

Accounting Today

Tax credits TIGTA IRS Tax Tax relief

Applying the Research Credit Against Payroll Taxes

RogerRossmeisl

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax.

Inflation Reduction Act potentially doubles R&D tax credit

Accounting Today

Tax credits Biden Administration Tax Payroll taxes

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App purchases and sales and use tax

TaxConnex

Many tech companies consider themselves a service provider exempt from sales and use tax. But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps.

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Tax Fraud Blotter: Just another day in Paradise

Accounting Today

Tax-related ID theft Tax crimes Tax preparation Tax fraud Tax scams Tax-related court cases

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OECD urges South Africa to raise taxes, sell state firms

Accounting Today

Tax reform International taxes Tax Tax deductions

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Democrats ask Yellen to reject lobbying on minimum corporate tax

Accounting Today

Janet Yellen Corporate taxes Biden Administration Tax

How not to tank your sales tax audit (part 2)

TaxConnex

The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through. If you determine you have significant sales tax exposure, a Voluntary Disclosure Agreement (VDA) is an option to mitigate this risk. sales tax compliance sales tax audits

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State sales tax rates hit historic high

Accounting Today

Sales tax Tax

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California sees warning sign from weak tax revenue collections

Accounting Today

California State tax revenues Tax State taxes

Sales tax and accounting services

TaxConnex

It’s that time of year again when everyone suddenly thinks about preparing their income taxes. 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).

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Transforming tax for two: Spin-offs and the tax function

Accounting Today

Corporate taxes Tax planning Deloitte Tax

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Taxpayers trust tax pros more than politicians or media

Accounting Today

IFAC ACCA International taxes Tax fraud Tax

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IRS Announces the “Dirty Dozen” Tax Scams for 2022

RogerRossmeisl

The IRS has compiled the annual Dirty Dozen list for more than 20 years as a way of alerting taxpayers and the tax professional community about scams and schemes. The post IRS Announces the “Dirty Dozen” Tax Scams for 2022 appeared first on Roger Rossmeisl, CPA.

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