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Sales tax and accounting services

TaxConnex

Tax preparers are generally accredited individuals – certified public accountant (CPA) and enrolled agent (EA) are two common preparer designations – who have completed previous and ongoing education to understand compliance for varied tax purposes. Accounting services are often, but not always, exempt.

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Hawaii to Offer Tax Amnesty to Switch Short Term Rentals to Long Term

CPA Practice

Hawaii has some of the highest median home prices and rents in the country — and a persistent housing crisis. Could tax incentives geared toward turning Hawaii short-term rentals (STRs) into long-term housing increase housing stock and decrease rents for Hawaiians? By Gail Cole. Governor Josh Green thinks so.

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What's new in May for state sales and use taxes

TaxConnex

States’ sales taxes account for almost 30% of state tax revenue, but most sales taxes are imposed on narrow and still-narrowing bases, according to a new report from the Tax Foundation. accountable for not collecting an appropriate amount of sales tax on the promotional gift cards given with certain purchases. billion in April, 12.8%

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Marketplace Facilitators Create Their Own Sales Tax Obligations

TaxConnex

If you are selling through a marketplace, the majority of states now have these laws in place, including, recently , Georgia, Florida, Hawaii, Wisconsin, Illinois, Michigan, South Carolina and North Carolina. Devil in the details. The reason being?

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IRS Again Extends Income Tax Deadline For Hawaii Wildfire Victims

CPA Practice

8, 2023, wildfires in Hawaii. 2023 contributions to IRAs and health savings accounts for eligible taxpayers. The news release said this tax relief is available to individuals and households that live in or have a business in Maui or Hawaii counties, as designated by the Federal Emergency Management Agency’s disaster declaration.

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Crypto, NFTs and sales tax: What we know so far

TaxConnex

There’s similar interest in California, Arizona, New York, Hawaii and Massachusetts – not to mention the federal government, which may soon explore digital currency for the U.S. Accounting and consulting firm BDO has an excellent article on this.). Ohio tried accepting crypto for taxes four years ago but soon abandoned the idea.

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BerryDunn Joins Forces With Burzenski & Co. in Connecticut

CPA Practice

Top 50 accounting firm BerryDunn has merged with Connecticut-based accounting, tax, and advisory firm Burzenski & Co., Over the past three years, we’ve seen our outsourced accounting services grow more than 175%,” added Kathy Parker, principal and practice group leader of the Outsourced Accounting Practice Group at BerryDunn.