TaxConnex

FEBRUARY 13, 2025

should know that sales tax obligations for these sovereign nations and territories resemble those obligations in other areas of the U.S. Areas such as the Navajo Nation have tribal sovereignty; for tax purposes, this means their sales tax laws are separate from the states within which they reside.

Sales 213

Sales Tax Wisconsin Oklahoma 213

Xero

NOVEMBER 18, 2024

We’re excited to announce that partnership tax has arrived in Xero Tax. You can now manage most of your clients’ tax needs – corporate, personal, and ordinary partnerships – in one simple, secure platform. Your practice can now gain all the benefits of Xero Tax across your ordinary partnership clients.

Tax 98

Tax tax return bookkeeping accounted 98

TaxConnex

JUNE 24, 2025

Recent developments in payment platforms and tax regulations have brought increased attention to the IRS reporting requirements triggered by lower income thresholds. With these changes in mind, it's important to consider how using a payment platform impacts the collection of sales tax. sales taxes? and international sales.

Sales 130

Sales Tax tax return Government 130

ThomsonReuters

DECEMBER 4, 2024

Filing business tax returns is no doubt an intricate process, but with the right workflow, accounting firms can streamline the process, reduce errors, and ensure compliance. Prepare and review the tax return 4. File electronically and track the return 5. Review deduction and credit opportunities 3.

tax return 52

tax return business tax accounting firms Tax 52

RogerRossmeisl

DECEMBER 29, 2024

HSAs offer a range of benefits that can help you save on health care expenses while providing valuable tax advantages. HSA basics For eligible individuals, HSAs offer a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. You may already have an HSA.

Tax 259

Tax tax return CPA accounted 259

TaxConnex

JUNE 12, 2025

April’s federal Form 1040 probably comes first to mind when anyone thinks about tax returns. As your business starts to sell into more states, though, you’re going to need to file another type of form: states’ sales tax returns. Since there is no federal sale tax , sales tax is left up to states.)

Sales 147

Sales Tax tax return general ledger 147

TaxConnex

JANUARY 30, 2025

AI and automation are all the rage, but does it have a place in your sales tax compliance process? Businesses need a way to calculate the correct sales tax to charge in states where they have a sales tax obligation, and for this, automation can be a great solution. If so, where?

Sales 147

Sales Tax E-commerce Ohio 147

TaxConnex

JULY 3, 2025

And we all know what more domestic sales mean: more sales tax obligations. Yet probably few manufacturers understand all the ways sales tax can affect their business. Past sales tax liabilities are also popping up more in due diligence as a deal-breaker in M&As. What do manufacturers have to watch for?

Manufacturing 147

Manufacturing Sales Tax Alaska 147

CPA Practice

OCTOBER 14, 2024

A new survey from Big Four firm EY reveals that CFOs’ and corporate tax leaders’ stances on generative artificial intelligence have shifted over the past year—from mostly negative to mostly positive. Tax departments are expected to be the leaders for most organizations as they move quickly along the GenAI maturity curve.

corporation tax 117

corporation tax Tax Finance Technology 117

MyIRSRelief

APRIL 11, 2025

However, amidst the hustle and bustle, tax issues can arise, creating stress and financial strain for taxpayers. Whether its unfiled tax returns, back tax debt, 941 payroll tax issues, IRS levies, garnishments, or audits, these challenges can feel overwhelming. This can also damage credit scores.

payroll tax 130

payroll tax Tax tax return payroll 130

TaxConnex

JANUARY 9, 2025

northern states, having customers or clients in Canada can happen easily, but what sales tax rules apply? The same but different Canadas sales tax situation resembles that of the U.S. Canada now even has sales tax holidays.) northern neighbor also has less scattershot sales tax obligations than U.S.

Sales 147

Sales Tax tax return income tax 147

CTP

OCTOBER 30, 2024

This type of specialized company has been gaining popularity—and many of them have been on the lookout for a tax planner to complete their financial advisory teams. However, a family office is an expensive setup—which is one of the reasons a tax planner can be a value-add to this team. What exactly is a family office?

Tax 97

Tax Real Estate cpa firm tax return 97

Accounting Today

JULY 9, 2025

EDT 1 Min Read Facebook Twitter LinkedIn Email Andrew Harrer/Bloomberg Tax year 2026 and filing season 2027 are the target date for retiring the Filing Information Returns Electronic, or FIRE, system. The Information Returns Intake System, or IRIS, will be the only intake system for information returns now received through FIRE.

Tax 106

Tax tax preparation Technology corporation tax 106

ThomsonReuters

DECEMBER 10, 2024

Blog home As artificial intelligence continues to rapidly evolve , a new concept is emerging that tax and accounting professionals need to be aware of: agentic AI. For tax and accounting firms, agentic AI has the potential to dramatically transform workflows, client services, and the nature of professional work itself. Jump to 1.

audit 91

audit Tax Technology tax return 91

CPA Practice

NOVEMBER 19, 2024

In the past, taxpayers have often relied on the “Cohan rule” from an age-old case to bail them out of a tax jam. When taxpayers who don’t possess sufficient records are pushed to the brink, they may pull this tax-saver out of their back pocket. The returns were prepared by a professional. Cohan, 39 F2d 540, CA-2, 1930).

Tax 106

Tax Alabama tax return Construction 106

MyIRSRelief

OCTOBER 11, 2024

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S.

tax services 130

tax services payroll tax Tax tax preparation 130

Accounting Today

JUNE 20, 2025

3 to file various federal individual and business returns and make tax payments. 3 to file various federal individual and business returns and make tax payments. The current list of eligible localities is on the IRS Tax Relief in Disaster Situations page.) All rights reserved. 15, 2025. 31, 2025.

Mississippi 93

Mississippi Texas Tax Technology 93

Going Concern

NOVEMBER 7, 2024

Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. The greatest variance in pricing was for tax planning and advisory services in particular. Or at least half-in. It sure took them long enough to get the memo.

cost accounting 114

cost accounting accounting firms accounted Account 114

RogerRossmeisl

OCTOBER 20, 2024

It’s an essential question for tax purposes. You may think you can deduct that loss on your personal federal income tax return with no questions asked. The IRS often claims that money-losing sidelines are hobbies rather than businesses — and the federal income tax rules for hobbies aren’t in your favor. Not so fast!

income tax 264

income tax tax return CPA Tax 264

CPA Practice

NOVEMBER 20, 2024

Accounting and Tax Pricing Benchmark report from Ignition, which surveyed 345 owners and decision-makers in accounting firms, adds that most firms are planning to increase fees across services by 5% or 10% in 2025. 90% plan to increase fees for individual tax returns. 87% plan to increase fees for business tax returns.

accounting firms 116

accounting firms accounted Account accountant 116

ThomsonReuters

DECEMBER 10, 2024

Blog home As artificial intelligence continues to rapidly evolve , a new concept is emerging that tax and accounting professionals need to be aware of: agentic AI. For tax and accounting firms, agentic AI has the potential to dramatically transform workflows, client services, and the nature of professional work itself. Jump to 1.

audit 97

audit Tax Technology tax return 97

inDinero Tax Tips

OCTOBER 22, 2024

You may have heard that Nevada LLC taxes are favorable to business owners. This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate.

Nevada 105

Nevada Tax income tax payroll tax 105

CTP

OCTOBER 28, 2024

In recent years, tax planners have increasingly been recruited to work alongside family offices. Adding a knowledgeable tax planner to their team can greatly increase the value the firm provides its clients. Tax planners should be aware that the smaller the family office is, the more problematic it becomes from a tax perspective.

Tax 105

Tax Government Real Estate payroll tax 105

MyIRSRelief

JUNE 13, 2025

Tax season is a time of opportunity—and vulnerability. Scammers exploit the complexity of tax laws to target unsuspecting individuals and businesses, promising quick refunds or miraculous IRS resolutions that often lead to financial loss or serious legal trouble. Red Flags of Tax Scams Knowledge is your best defense.

Tax 130

Tax payroll tax tax preparation payroll 130

CPA Practice

OCTOBER 28, 2024

Whether due to a failure to file reports, pay taxes, or meet regulatory obligations, there may be a time when a company falls into bad standing. Most importantly, it saves on the costs associated with continuing to operate after the new year, such as fees as taxes. By Nellie Akalp. When this occurs, dissolution may be a solution.

tax return 116

tax return payroll tax payroll Legal 116

ThomsonReuters

FEBRUARY 4, 2025

Jump to Key areas where AI enhances tax services in large firms Barriers to AI adoption in large firms and overcoming them Embrace AI in your large firm for a competitive edge The tax and accounting industry is on the brink of a significant transformation, driven by the integration of artificial intelligence (AI) and generative AI (GenAI).

accounting firms 98

accounting firms Tax accounted Account 98

TaxConnex

JUNE 10, 2025

Many companies don’t think about how to handle sales tax obligations until it’s too late. Previously we looked at how such back-office functions as the general ledger , tax calendar and billing system can cause problems with your sales tax compliance. It’s just sales tax.

Sales 147

Sales Tax tax return general ledger 147

ThomsonReuters

OCTOBER 23, 2024

Jump to ↓ The strategic role of tax technology Budget disparities and satisfaction levels The rise of Generative AI (GenAI) Key findings at a glance The future trends of tax technology Strategic takeaways and future directions The tax and accounting landscape is undergoing a seismic shift, driven by rapid technological advancements.

Technology 52

Technology Tax tax return accounted 52

CPA Practice

DECEMBER 3, 2024

27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. Crawford is not representative of most tax preparers who provide honest services to their clients. (TNS) ATHENS, GA (Nov.

tax preparation 97

tax preparation Georgia tax return Tax 97

ThomsonReuters

MARCH 3, 2025

While advanced tax technology and automation are nothing new for most accounting firms, the introduction of agentic AI is redefining what classifies as a mundane task. For years, automation has eliminated the need for tax professionals to spend their days steeped in manual data entry, searching for blank fields or numbers that dont add up.

Tax 93

Tax accounted Account accountant 93

RogerRossmeisl

MARCH 23, 2025

If youre getting ready to file your 2024 tax return and your tax bill is higher than youd like, there may still be a chance to lower it. If youre eligible, you can make a deductible contribution to a traditional IRA until this years April 15 filing deadline and benefit from the tax savings on your 2024 return.

tax return 147

tax return CPA Tax 147

CPA Practice

NOVEMBER 6, 2024

For every dollar they paid in, they would get tax deductions of about $4.50. Now that longtime accountant, Herbert Lewis, is heading to federal prison for his role in promoting and selling illegal tax shelters. I think this thing is the best safe tax savings tool I have seen in a long time; probably ever. million in restitution.

CPA 52

CPA Tax income tax tax return 52

TaxConnex

DECEMBER 17, 2024

The excitement of years end can push all kinds of taxes to the back of your mind. But its a good idea to look out for how a new year can mean new sales tax obligations for you and your online business. Here are some common situations that can be exciting for your business and distracting for you and that can create sales tax risk.

Sales 130

Sales Tax auditor audit 130

Going Concern

NOVEMBER 8, 2024

The firm’s team members, who were used to working virtually, understood the importance of setting up workflows, processes, and controls before pushing tax return billable hours offshore. According to 20 seconds of Googling, the median salary for a tax accountant in India is ₹ 600,000 ($7,109 USD).

tax return 110

tax return CPA cpa firm Tax 110

CTP

JANUARY 17, 2025

One of the many roles we play as tax planners is as the taxpayers audit support system. We will especially want to have this conversation if our clients tax return features one of the IRS red flags of the season. The taxpayer claimed a tax credit that has resulted in a lot of fraud.

audit 96

audit Tax auditor tax return 96

Going Concern

MARCH 20, 2025

Some of those folks showed up Thursday morning trying to get their tax documents back. We have to get our tax papers back, so we can take them somewhere else, said one client to WSOC. Its going to be tax time and we have no tax returns. State Board of Certified Public Accountant Examiners. You get an extension!

North Carolina 124

North Carolina accounting firms Tax accounted 124