article thumbnail

What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. The five-letter acronym stands for the states without a statewide sales tax – New Hampshire, Oregon, Montana, Alaska and Delaware – and two of those states might be leaving the group sooner than later. billion-plus from a 4% sales tax in FY25.

Sales 162
article thumbnail

Lili Launches Lili Connect for Small Business Financial Management

CPA Practice

Lili , a financial platform designed for small business owners, today announced that it is launching Lili Connect,an embedded finance integration that streamlines small business banking, accounting, and tax processes, allowing partners to offer Lili’s comprehensive financial management tools directly through their platform.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Sales Tax Highlights of August 2024 | TaxConnex

TaxConnex

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.

Sales 147
article thumbnail

Treasury Shifts SUV Definition for EV Tax Credits After Carmakers Gripe

CPA Practice

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
article thumbnail

Taking Your Spouse on a Business Trip? Can You Write Off the Costs?

RogerRossmeisl

billion by 2030, according to a report from Research and Markets. A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4

CPA 166
article thumbnail

Elevating payroll: Industry leaders advocate for Chief Payroll Officer in the C-suite

ThomsonReuters

Tiliakos stressed that payroll operates as a complex system managing compliance, taxes, employee engagement, and risk mitigation.He Launch of the “30 by 30” initiative At the close of the event, Lee announced the launch of a “30 by 30” initiative, with the goal of establishing 30 Chief Payroll Officers by 2030.

payroll 59
article thumbnail

Ethical Concerns in Using Tax Planning Software

CTP

What are my ethical responsibilities when I use software to produce a tax plan? In the world of taxes, there are many ethical issues that can come into play. And according to the same research firm, the use of AI in the accounting and tax industry will likely grow more than 50 percent by the year 2030.