TaxConnex

SEPTEMBER 29, 2020

The state’s SSUT has taken in more than $309 million overall during the current fiscal year – almost double the tax generated during all of fiscal 2018-19. Under the SSUT formula, 50 percent of all revenues from online sales from companies participating in the program go to the state. Sales taxes were up 8.2

Sales 231

Sales Tax Alabama Texas 231

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. 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. Wholesale sales or sales of exempt goods are not subject to the fee.

Sales 178

Sales Tax Oklahoma Illinois 178

SkagitCountyTaxServices

NOVEMBER 8, 2023

We all know the power of the holiday season for boosting sales — revenue-increasing opportunities abound. You might have heard about their new tax targets and started to worry as a business owner. The IRS will be focused less on working-class taxpayers and increasingly toward high-income individuals and corporations.

income tax 65

income tax tax return Tax audit 65

TaxConnex

APRIL 20, 2021

This time of year, everybody’s mind is on income tax preparation. And for many accountants and CPA firms, this time of year means extra-long hours and more time spent managing clients’ finances. The fact is, when it comes to many companies’ federal and state income tax returns, they don’t rely on an automated income tax return.

Sales 139

Sales Tax tax return income tax 139

Cherry Bekaert

MARCH 14, 2024

market, business owners must learn about the federal, state and local tax systems they will encounter. Sales tax in the U.S. is quite different from a value-added tax (VAT) or a goods and services tax (GST) assessed by many other countries. Listen to learn more about: 03:54 – GST tax vs. U.S.

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Ronika Khanna CPA,CA

MAY 5, 2024

Accounting software has come a long way in the past few years. Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax.

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ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

Sales 98

Sales Tax Michigan Washington 98

MyIRSRelief

JULY 17, 2023

Tax planning is a vital aspect of financial management, both for individuals and businesses. It involves a proactive approach to legally reduce tax liabilities by optimizing financial decisions throughout the year. Section 1: The Importance of Tax Planning 1.1. Section 2: Tax Planning for Individuals 2.1.

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TaxConnex

JUNE 18, 2024

(Nexus is an economic presence that triggers the obligation to collect and remit tax or at least communicate with appropriate states.) Except not every state has used the same dollar figure or the same total of sales through the last six years. But if states are so serious about sales tax, why don’t they just pick a number?

South Dakota 168

South Dakota North Dakota Alabama Tax 168

Ronika Khanna CPA,CA

APRIL 26, 2024

This includes tax payments, which tax agencies have tried to make as easy as possible by offering several options. The benefit of making tax payments online is that they allow businesses reduce the hassle of manually transcribing information onto forms that then have to be mailed in along with a cheque, before a certain due date.

corporation tax 80

corporation tax payroll Tax Sales 80

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes. What is sales tax?

Sales 97

Sales Tax Arizona Georgia 97

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide.

income tax 52

income tax tax return Tax E-commerce 52

Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? international tax rules. income tax.

Tax 104

Tax income tax Non-Profits corporation tax 104

TaxConnex

MARCH 31, 2022

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. Use tax or sales tax is due on a sale, but not both.

Tax 189

Tax Alabama Washington California 189

Going Concern

JANUARY 10, 2024

Today in clients behaving badly, the DoJ announced Friday that Las Vegas restaurateur Raul Gil, who owns and operates three Casa Don Juan restaurants in the city, is headed to prison for 37 months for evading his federal income taxes. In total, Gil caused a tax loss to the IRS of approximately $1.6

tax return 64

tax return Tax Nevada income tax 64

LyfeAccounting

NOVEMBER 17, 2020

I mean…there’s federal taxes, state taxes, sales taxes, Medicare taxes, social security, unemployment, and so on. As a business owner, understanding how to navigate taxes can be extremely overwhelming. I missed payroll tax filing deadlines that cost me thousands of dollars.

income tax 52

income tax payroll tax payroll Tax 52

MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision.

payroll tax 147

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CTP

JUNE 10, 2022

Even if you have never assisted a client with the sale of a business, as a tax planner you have the potential to provide tremendous value in the planning process. Many business owners may also be navigating a sale for the first time and likely have little insight into the tax implications and how to set themselves up for savings.

Sales 93

Sales Tax income tax tax return 93

LyfeAccounting

JUNE 25, 2021

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? Top 10 States With The Highest Income.

income tax 52

income tax South Dakota Tax Alaska 52

ThomsonReuters

SEPTEMBER 2, 2021

What is a tax provision? Simply put, a tax provision is the estimated amount of income tax that a company is legally expected to pay to the IRS for the current year. A tax provision is just one type of provision that corporate finance departments set aside to cover a probable future expense.

income tax 52

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ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

Tax 98

Tax tax return income tax audit 98

CPA Practice

MAY 15, 2024

The technologies used in professional accounting firms continue to evolve and shape how practices function, from client service, to staffing issues, and overall management and growth. The result: Drake wins this category again this year, showing the loyalty many professionals have for this company’s tax systems. Now, on to the results!

Technology 119

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ThomsonReuters

APRIL 25, 2024

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Jump to: • State tax on retirement income • Which states do not tax retirement income?

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn.

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ThomsonReuters

AUGUST 25, 2023

Jump to: How does depreciation affect corporation taxes? What is the depreciation guidance for corporate alternative minimum tax? With tax obligations on the rise, your role as a trusted advisor is bound to grow in importance. Furthermore, 73% said they expected their total tax liability to increase over the next 12 months.

corporation tax 98

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Ronika Khanna CPA,CA

SEPTEMBER 22, 2023

In addition to creating your core product or service , you also need to have a working knowledge of numerous other facets of business including marketing, IT, accounting and operations. This is especially true with respect to the more technical aspects of business such as accounting and tax. Starting a business is hard work.

Tax 98

Tax income tax tax return accounting and finance 98

Snyder

OCTOBER 30, 2022

Taxes add a big chunk to this plate. Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. But is there a way to escape tax filing season disturbance? How much do small businesses pay in taxes? How to file income tax?

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MyIRSRelief

OCTOBER 16, 2023

When it comes to navigating the complex world of taxes, understanding deductions and credits is like having a secret treasure map to unlock potential savings. Tax deductions and credits are powerful tools that can help individuals and businesses reduce their tax liabilities, putting more money back in their pockets.

Tax 130

Tax income tax Education tax return 130

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

Delaware 52

Delaware Nevada Tax Sales 52

Ronika Khanna CPA,CA

JUNE 7, 2024

Table of Contents When starting a business, it can be confusing and a little overwhelming to keep on top of the different types of tax filings that need to be submitted and ensuring that these tax deadlines are met. Sales tax returns reflect the amounts charged on products and services, which are collected on behalf of the government.

Tax 98

Tax corporation tax tax return payroll 98

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? Examples of direct tax Understanding tax provision Understanding state apportionment Differences between direct and indirect taxes When a taxpayer must pay taxes directly to the government, meaning the taxes cannot be shifted to other entities or individuals, it is known as direct tax.

Tax 52

Tax income tax payroll tax payroll 52

CPA Practice

OCTOBER 4, 2023

Supreme Court has agreed to take up a lower court decision on taxation ( Moore v United States ) that could open or slam the door on a federal wealth tax, it’s worth a deep dive into just how terrible a wealth tax would be for American taxpayers. Second, no matter how it’s positioned, a wealth tax is not based on objective facts.

Tax 105

Tax income tax Hawaii Oklahoma 105

ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

Tax 110

Tax tax return Technology income tax 110

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

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inDinero Tax Tips

MARCH 2, 2023

Cryptocurrency tax rules can be complicated and confusing, but you definitely need to report your crypto gains. Here’s a look at what happens if you don’t report cryptocurrency on taxes — along with answers to common crypto tax questions. What Happens if You Don’t Report Cryptocurrency on Taxes?

Tax 98

Tax income tax South Dakota tax return 98

KROST

JANUARY 13, 2021

These days, anybody who sells goods or provides services to somebody outside of their home state should ask themselves, “Do I need to collect sales tax?” However, the best way to get a useful answer is to start with a concept closely related to sales tax, namely “use tax.” In the case of “South Dakota v.

Sales 65

Sales Tax South Dakota tax return 65

CPA Practice

OCTOBER 30, 2023

The IRS said on Monday that it will allow electronic signatures to be used on certain tax forms “indefinitely until more robust technical solutions are deployed.” 31, 2025, the ability to use encrypted email when working directly with IRS employees to clear up tax-related issues or concerns. In addition, the agency extended until Oct.

tax return 132

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