TaxConnex

NOVEMBER 28, 2023

does not free you from the complexities of sales tax. In many countries, you will run into some kind of sales tax – familiar if you’re used to selling in the U.S., You pay any VAT liabilities to the tax office of the appropriate country. tax jurisdictions in which they have nexus. (A Selling outside the U.S.

Sales 264

Sales Tax Transportation Maine 264

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.

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Sales Rhode Island South Dakota North Dakota 246

TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. As we start the new year, here’s a look back at some significant sales tax events from 2023. This year, multiple states introduced new sales tax exemptions, too.

Sales 264

Sales Tax Colorado South Dakota 264

TaxConnex

NOVEMBER 11, 2021

There’s always something changing in the world of tax, especially sales tax. ZIP it: The Streamlined Sales Tax Governing Board has requested input on changing the Streamlined Agreement’s rules on sourcing sales of digital goods when purchasers don’t provide certain address details. State Updates. California Gov.

Sales 49

Sales E-commerce Tax Illinois 49

Withum

MAY 20, 2025

Recently, the House Ways and Means Committee released a sweeping budget reconciliation package, The One, Big, Beautiful Bill, which contains broad provisions impacting many areas of taxation, including tax-exempt organizations. Below is a summary of major provisions that exempt organizations need to remain aware of.

Tax 64

Tax Non-Profits Transportation Education 64

TaxConnex

MAY 22, 2025

Sales tax rules on clothing are some of the most complex nationwide, as a patchwork of states offer complete exemptions, no exemptions and everything in-between for specific types of clothing. Says New Jersey , Sales of articles of clothing and footwear for human use are exempt from New Jersey Sales Tax. One size sure doesnt fit all.

Rhode Island 130

Rhode Island West Virginia Iowa Oklahoma 130

RogerRossmeisl

JULY 30, 2021

Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel within the United States. Note that under the Tax Cuts and Jobs Act (TCJA) , employees can’t deduct their unreimbursed travel expenses through 2025 on their own tax returns. Here are some of the rules that come into play.

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tax return Transportation CPA Tax 246

TaxConnex

JULY 30, 2024

Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Then came 2018’s South Dakota vs. Additional complexities: The five NOMAD states – New Hampshire, Oregon, Montana, Alaska and Delaware – do not have a statewide sales tax.

South Dakota 264

South Dakota Alaska New Hampshire Montana 264

Patriot Software

AUGUST 31, 2022

Commuter benefits aren’t just popular in big cities with prevalent public transportation systems. But coming up with unique and appealing perks, like commuter benefits, can further your chances of attracting and retaining top talent. Any employer can give employees the gift of […] READ MORE.

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Transportation Tax payroll 98

ThomsonReuters

NOVEMBER 19, 2020

The IRS has released an information letter responding to an inquiry from a qualified transportation plan participant with unused transit benefits. Unlike the rules governing health FSAs, the qualified transportation plan rules place few restrictions on compensation reduction election changes. Available at [link].

Transportation 98

Transportation Government Tax Account 98

ThomsonReuters

APRIL 7, 2022

QUESTION: Our company’s qualified transportation plan allows employees to purchase transit passes with pre-tax compensation. ANSWER: The Code provision authorizing qualified transportation plans indicates that the tax benefits under a qualified transportation plan are for “employees.”

Transportation 98

Transportation Tax Government Account 98

ThomsonReuters

FEBRUARY 2, 2023

QUESTION: Our company has a qualified transportation fringe benefit plan under Code § 132(f) that allows participants to pay for parking, transit passes, and vanpooling on a tax-free basis. Qualified transportation fringe benefit plans may only offer qualified parking, transit pass, or vanpooling. ANSWER: No.

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Transportation Tax Account accountant 97

TaxConnex

AUGUST 22, 2024

There’s always something changing in the world of tax, especially sales tax. Analysis reveals that a fee in Washington of 30 cents per order could generate between $45 and $112 million in revenues in 2026, growing to between $59 and $160 million by 2030,” reads a recent report by the Washington State Joint Transportation Committee.

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Sales Tennessee Illinois Tax 147

TaxConnex

FEBRUARY 18, 2021

Sales and use tax obligations are determined by your nexus within a state or jurisdiction. Sales and use tax nexus is defined as the connection between a person or entity and a taxing jurisdiction. Wayfai r enacted economic nexus, physical presence reigned supreme when it came to determining a business’ sales tax obligation.

South Dakota 227

South Dakota Sales Transportation Tax 227

CPA Practice

SEPTEMBER 23, 2024

1, the per diem rates used to calculate tax deductions for business travel expenses will be $319 for travel to high-cost locations and $225 for travel to low-cost areas, the IRS said on Friday. Notice 2024-68 , which the IRS published on Sept. 1, 2024, to Sept. The use of a per diem substantiation method is not mandatory.

Transportation 135

Transportation Tax 135

RogerRossmeisl

OCTOBER 12, 2021

Taxpayers in the transportation industry can use a special transportation industry rate.) Taxpayers can use these rates to substantiate the amount of expenses for lodging, meals and incidental expenses when traveling away from home.

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Transportation CPA business tax Tax 246

CPA Practice

AUGUST 13, 2024

By Chris Van Buskirk Boston Herald (TNS) Massachusetts’ voter-approved “millionaires tax” delivered roughly $2.2 State budget writers said Friday the 4% surtax on incomes over $1 million managed to generate hundreds of millions more for transportation and education projects than expected during its first full year on the books.

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Massachusetts Tax Transportation Education 111

ThomsonReuters

NOVEMBER 11, 2021

Qualified Transportation Fringe Benefits. Nevertheless, there are adjustments to certain general tax limits that are relevant to the federal income tax savings under a DCAP. These include the 2022 tax rate tables, earned income credit amounts, and standard deduction amounts. Small Business Health Care Tax Credit.

Transportation 98

Transportation Tax income tax Account 98

ThomsonReuters

OCTOBER 20, 2022

Qualified Transportation Fringe Benefits. Nevertheless, there are adjustments to certain general tax limits that are relevant to the federal income tax savings under a DCAP. These include the 2023 tax rate tables, earned income credit amounts, and standard deduction amounts. Small Business Health Care Tax Credit.

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Transportation Tax income tax Account 97

Withum

MAY 16, 2025

Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape. Our team closely monitors and analyzes proposed tax legislation, providing individuals and businesses with timely insights to help navigate the evolving tax landscape.

Manufacturing 95

Manufacturing Transportation audit Maine 95

CPA Practice

SEPTEMBER 11, 2023

Generally, you can’t deduct these transportation costs. To qualify for transportation deductions, you must be traveling away from your tax home to a business location. To qualify for transportation deductions, you must be traveling away from your tax home to a business location.

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Tax Transportation income tax business tax 119

Withum

FEBRUARY 21, 2022

Federal Courts continue to reject constitutional challenges under the 5th Amendment to Section 7345, passed as part of the “Fixing America’s Surface Transportation Act” in 2015. Section 7345 gives taxpayers several ways they can work with the IRS to avoid the certification of their delinquent tax debt and referral to the State Department.

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Tax Transportation tax services Government 128

Withum

MARCH 17, 2025

ASC 330 requires that companies analyze their inventory to ensure it is stated at the lower of cost or net realizable value, defined as the estimated selling price in the ordinary course of business, less the cost of transportation. How Else Do Tariff Costs Impact the Income Statement? Advance Pricing Agreements or APA).

financial statements 95

financial statements Manufacturing Non-Profits Tax 95

CPA Practice

MARCH 26, 2025

Revenue generated by Hawaiis gas taxes is declining because more Hawaiians are driving electric and hybrid vehicles. The RUC isdesigned to providefair, long-term, sustainable funding for Hawaiis roads, according to the Department of Transportation.

Hawaii 110

Hawaii Tax Transportation 110

MyIRSRelief

AUGUST 1, 2023

Trucking companies form the backbone of the transportation industry, ensuring that goods are delivered efficiently and promptly across the country. However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance.

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payroll tax Tax payroll audit 130

Withum

FEBRUARY 17, 2025

With New York State progressing towards extending and amending the Film Tax Credit Program, now is the time to make sure you have a trusted advisor who can help you navigate this tremendously beneficial tax credit. How Does the New York State Film Tax Credit Program Work, and Who Is Eligible To Claim the Credit?

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Tax cpa firm New York general ledger 52

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? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”.

Rhode Island 130

Rhode Island Sales West Virginia Alaska 130

MyIRSRelief

NOVEMBER 15, 2024

Essential Bookkeeping Tips to Maximize Tax Deductions for Small Businesses Running a small business comes with a myriad of responsibilities, and one of the most crucial is managing your finances effectively. Travel Expenses:Separate travel expenses into subcategories such as airfare, lodging, meals, and transportation.

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bookkeeping Tax Entertainment accounting software 130

CPA Practice

MARCH 22, 2023

Thanks to a little-noticed law passed in 2014—the Achieving a Better Life Experience Act (ABLE) Act—a family can set up a tax-favored savings account for a disabled individual. After you establish the account and contribute to it, any earnings inside the account are exempt from current tax. Contributions are not tax-deductible).

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TaxConnex

AUGUST 15, 2023

There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

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Sales Tax Alabama Texas 130

TaxConnex

JUNE 15, 2023

Call it a sales tax or a delivery fee of 27 cents. Retailers, online marketplaces and services must now charge the delivery fee if an order will be delivered to a Colorado address using a motor vehicle and includes at least one item subject to the state sales or use tax. There are other exemptions.

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Colorado Sales Minnesota Tax 130

inDinero Accounting

OCTOBER 17, 2024

For small business owners and startup founders, navigating the complex world of tax deductions can feel like traversing a financial minefield. As we delve into the specifics, remember that tax laws are as dynamic as the business world itself. Table of Contents What Is a Small Business Tax Deduction and How Does It Work?

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business tax Tax bookkeeping bookkeeping services 52

Going Concern

MAY 29, 2025

If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you’re not aloneand you’re not out of options. Whether you’re looking for talent in tax, audit, accounting, or project-based roles, we’ve got candidates worth your time.

Real Estate 52

Real Estate Tax Account accountant 52

CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. imposing increases or newly-created taxes on real or other property. In response to the dismissal of the earlier state lawsuit, Apple Inc.

South Dakota 124

South Dakota Maryland Tax income tax 124

CPA Practice

NOVEMBER 2, 2023

One of the topics the minds of many tax and accounting professionals is the environment. Target investments to cut localized pollution from port operations, heavy duty trucks, and transportation infrastructure. In addition, tax incentives are a primary tool in the Act to encourage energy innovation. By Diana Crawford, CPA.

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Tax North Carolina Agriculture Manufacturing 115

CPA Practice

JULY 12, 2024

Alex Brown Stateline.org (TNS) For decades, states have relied on gas taxes to provide much of the money to maintain roads and bridges. But as cars become more fuel efficient, and some Americans switch to electric vehicles, state leaders say the gas tax won’t pay the bills for much longer. Erin Koegel, who sponsored the bill. “We

Colorado 105

Colorado Tax Transportation Minnesota 105

Cherry Bekaert

JUNE 18, 2024

Contributor: Nick Cousino, Senior Manager A new South Carolina tax credit that encourages private parties to expand the state’s ever-growing trail system went into effect May 13. A taxpayer allowing for a six-foot wide trail for two miles may be eligible to claim an income tax credit of $6,336.

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South Carolina Real Estate Tax income tax 111