TaxConnex

JANUARY 27, 2022

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Due to all of the above, it’s hard to fill any position at this point, but a job with specific skills, especially with experience managing sales and use tax, can be downright impossible. Nearly 8% growth was expected in 2021.

Sales 242

Sales E-commerce Tax Florida 242

TaxConnex

FEBRUARY 3, 2022

Sales tax has evolved a lot in recent years. So has the sales tax audit. According to the Tax Policy Center, money collected from sales tax can be the leading source for many jurisdictions, constituting 25% to 35% of a state’s revenue. Many events can ignite a sales tax audit. And why not? Are they happening more often?

audit 245

audit Sales Tax auditor 245

TaxConnex

APRIL 20, 2021

And for many accountants and CPA firms, this time of year means extra-long hours and more time spent managing clients’ finances. Why should sales tax be any different? Many companies are enamored by an automated sales tax returns approach. Did you sign-up to be your own sales tax manager? They turn to experts.

Sales 214

Sales Tax tax return income tax 214

TaxConnex

DECEMBER 17, 2024

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. Generally, states require sales tax on tangible personal property.

Sales 130

Sales Tax auditor audit 130

TaxConnex

APRIL 6, 2021

There’s always something changing in the world of tax, especially sales tax. The Alaska Remote Seller Sales Tax Commission has approved its “Remote Seller Sales Tax Code & Common Definitions” that would apply to local municipalities in Alaska that choose to adopt it. Online sales tax revenues have accounted for about 66.4

West Virginia 147

West Virginia Sales Nebraska Alaska 147

TaxConnex

MAY 11, 2021

Both the process of reporting sales tax and the level of sales tax detail required varies from state to state. Some reporting requirements that should be considered in your sales tax compliance process are: 1. In most states, sales tax is reported to the individual state. Know your Deadlines.

Sales 162

Sales Tax Colorado tax return 162

DuctTapeMarketing

JULY 14, 2018

Small Business Finances. Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. Handle payments and manage accounts payable. A growing number of small business owners are outsourcing their bookkeeping to cloud-based companies that wrap around accounting software. Paid Search.

bookkeeping 238

bookkeeping accounting and finance accounting software bookkeeping services 238

TaxConnex

APRIL 27, 2021

Sales tax obligations are getting more complicated for businesses of all industries. In this blog, we’ll talk to some of the common missteps businesses make when trying to manage sales tax on their own. Figuring out where you have nexus is key to determining your sales tax liability. Not evaluating economic nexus.

Sales 147

Sales Tax Wisconsin Missouri 147

Acterys

NOVEMBER 24, 2024

For finance teams, the end of the year is not just about celebrations — it’s about reviewing financial performance, setting new goals, and developing a strategic plan to ensure future success. Many finance teams face challenges like fragmented data sources, manual data gathering, and limited forecasting capabilities.

Finance 130

Finance accounting and finance Non-Profits quickbooks 130

CPA Practice

OCTOBER 30, 2023

While marketing teams have been using AI assistants to whip up emails and create LinkedIn Ads, the accounting teams have struggled to reap the potential rewards AI technology can deliver. Fortunately, a series of advances in AI have now unlocked new ways for the technology to help accounting teams work faster, smarter, and more accurately.

Finance 116

Finance accountant Account accounted 116

TaxConnex

NOVEMBER 21, 2023

In the world of accounting and tax, CPAs, accounting firms, and advisory firms play a vital role in helping individuals and businesses manage their finances and stay within the rules. But one tricky area that often causes headaches is sales and use tax. Adding new employees, locations, or warehouses. Change of staff.

cpas 147

cpas Sales Tax audit 147

TaxConnex

NOVEMBER 19, 2024

Other potential deal-killers, though, might get less scrutiny in due diligence – including problems with a target company’s past sales tax compliance. One frequent culprit is poor due diligence – and due diligence that doesn’t properly account for past tax liability. Against such a backdrop, sales tax risk might seem trivial.

Sales 113

Sales Tax accounting and finance payroll 113

CPA Practice

MAY 22, 2024

While AI’s impacts are already visible in areas like automation, its true revolutionary promise lies in enhancing strategic decision making, especially within the finance function. The Current State of AI: Productivity at the Forefront AI has already made significant contributions in the finance and accounting sector.

Finance 125

Finance Technology accounting and finance Education 125

TaxConnex

JANUARY 20, 2022

Monitoring and responding to notices as well as making the corresponding adjustments or taking the prescribed actions is one of the many pieces of your sales tax compliance process. So who is managing your sales tax notices? They can arrive by mail, be emailed or be posted to your account on the jurisdiction’s website.

Sales 242

Sales tax return Tax accounting and finance 242

Airbase

MARCH 2, 2023

We all know the story: women and minorities are underrepresented in top finance and accounting roles, and even though their representation has grown, a yawning gap persists within senior positions and salaries. Female accountants and auditors now outnumber their male counterparts. We’ve come a long way in 124 years.

Finance 130

Finance accounting and finance Gaming auditor 130

TaxConnex

DECEMBER 7, 2021

Rolling the dice with sales tax compliance can backfire in a big way. Keep reading to see some recent sales tax missteps that had big costs. million penalty for failing to pay sales tax on air-inflation services, as well as for tax avoidance schemes by underreporting sales and paying workers off the books. Tax air-or.

Alabama 246

Alabama New York tax return Sales 246

TaxConnex

JUNE 20, 2023

Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. 1, Louisiana’s threshold will also be only $100,000 of sales into the state and not 200 transactions besides. Some states never adopted one.) Starting Aug.

South Dakota 246

South Dakota North Dakota Wisconsin Iowa 246

CPA Practice

OCTOBER 31, 2024

tax professionals responsible for managing sales tax obligations for independent retailers reveals that 97% of respondents say they have automated or plan to automate their sales tax compliance process. Other key challenges include managing sales tax exemptions (17%), calculating correct tax rates (15%), and filing taxes on time (12%).

Sales 109

Sales Tax accounting and finance bookkeeping 109

SMBAccountant

MARCH 6, 2024

Accounting operates within its own language, a system of terms and conventions that serve as the backbone of financial communication and analysis. Understanding this unique language is essential for interpreting financial data, making informed decisions, and effectively navigating the intricate world of business finance.

accrual accounting 130

accrual accounting accounts payable accountant Account 130

TaxConnex

APRIL 28, 2022

Audits remain an important tool for tax jurisdictions to evaluate the level, or lack thereof, of sales tax compliance within a business. Even though many audits have shifted to remote audit, the fundamentals of the sales tax audit haven’t changed. Top 10 Tips for Managing Sales Tax Audits. Fear and loathing. market survey ,?more

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audit auditor general ledger Minnesota 245

Withum

SEPTEMBER 6, 2022

The accounting department’s staffing and sophistication now require an investment to accommodate these challenges. Scaling the Accounting Department. What used to be a process managed through a single credit card and bank account, which were reconciled with minimal time and resources, has now become an overwhelming monthly task.

accountant 122

accountant Account accounted accounts payable 122

CPA Practice

NOVEMBER 12, 2024

This webinar will be held on Thursday, December 12, 2024 at 12:00pm ET Sponsor: Avalara Duration: 1 Hour Register Now This webinar is designed for accountants using QuickBooks, Xero, or similar accounting software. He also co-founded Acuity Invests, which invests in accounting tech, SaaS, fintech, and crypto companies.

Technology 110

Technology Sales Indiana Tax 110

TaxConnex

MAY 9, 2023

Losing an important member of your finance team can leave a big hole in many business processes, especially if most of your accounting functions are managed in-house. But what happens when you lose the person managing your sales tax obligations? What resources or tools will they need to handle this new responsibility?

Sales 130

Sales Tax audit accounting and finance 130

TaxConnex

JUNE 18, 2024

States were as eager in 2018 for more tax revenue as they have been since, and they soon set individual economic nexus triggers according to in-state sales, revenue or both ($250,000 per year in sales in a state, for example, or 200 or more separate transactions). Why isn’t there a national sales tax, anyway?

South Dakota 214

South Dakota North Dakota Alabama Sales 214

Acterys

JUNE 16, 2023

Optimizing an organization’s financial health can be a challenging task, especially for CFOs and other finance leaders. To put this into perspective, let’s say you have a small sales team and want to add another resource. For example, cut down unnecessary expenses, increase sales, or sell any bonds or shares for additional capital.

Finance 130

Finance accounting and finance Sales Start-ups 130

xendoo

MARCH 21, 2022

Crunching numbers may not be your forte, but every online business needs a strong eCommerce accounting plan. This guide will cover this and more: Bookkeeping and accounting for eCommerce. Types of accounting software. How do you do eCommerce accounting? What does an eCommerce accountant do?

accountant 115

accountant Account accounted bookkeeping 115

VetCPA

SEPTEMBER 8, 2022

Small businesses make accounting errors and oversights regularly. Here, we cover five of the most common small business accounting mistakes. Recording everything is an excellent rule to follow for bookkeeping and accounting for a small business. You refuse to outsource your accounting needs.

small business accounting 130

small business accounting business accounting bookkeeping accountant 130

MyIRSRelief

APRIL 3, 2023

Small business owners often find themselves juggling multiple responsibilities, from managing employees to overseeing operations to marketing and sales. Amidst all these demands, managing finances can easily become overwhelming, especially for those who lack a strong financial background.

accountant 130

accountant Account accounted accounting and finance 130

Withum

DECEMBER 14, 2023

On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. Contact Us The post Accounting Standards Update 2023-08: FASB’s New Crypto Accounting Guidance appeared first on Withum.

accounting standards 116

accounting standards accountant Account accounted 116

Airbase

NOVEMBER 2, 2023

Virtual cards are a game-changer for accounts payable departments. In addition to greater control, security, and flexibility, virtual card payments can save finance teams hours of tedious work. David Coffman, VP Finance at Doximity, says Airbase virtual cards play an integral role in cutting the company’s time-to-close in half.

accounts payable 130

accounts payable accountant Account accounted 130

PANALITIX

MAY 31, 2021

Specializing an Accounting Business: . Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Accountants are increasingly specializing in response to the commoditization of ‘traditional’ accounting services. Management accounting. Cost Accounting.

accountant 130

accountant Account accounted Non-Profits 130

CPA Practice

SEPTEMBER 5, 2024

With more than 13,000 sales and use tax jurisdictions across the United States, tax rates are subject to change as new policies are implemented and others expire. In a typical fiscal year, there are thousands of sales tax rate updates. Just the thought of being selected for a sales tax audit can be intimidating.

audit 104

audit Sales Tax auditor 104

Accounting Today

NOVEMBER 13, 2024

A survey of ERP users found Info is used most often for accounting and finance; Microsoft for inventory management; SAP and Oracle for sales and customer relations.

accounting and finance 64

accounting and finance Finance accountant Account 64

Xero

DECEMBER 4, 2023

In fact, according to a recent survey of finance professionals commissioned by Avalara , 71% are investing in more tools and solutions to close overall efficiency gaps. When it comes to manual tasks, there are few that are more burdensome than sales tax.

Sales 86

Sales Tax accounting and finance Start-ups 86

MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

Tax 130

Tax bookkeeping Entertainment accountant 130

CPA Practice

OCTOBER 24, 2023

For almost as long as commerce has existed, small business owners have struggled with managing their finances and taxes, while at the same time running the operational side of their businesses. In addition to these inherent complexities, states are continuing to adapt and amend sales tax regulations related to economic nexus following the S.

Sales 105

Sales Tax bookkeeping services bookkeeping 105

Accounting Seed

FEBRUARY 3, 2023

Here’s how to take control What was once a gentle push and recommendation to take your accounting to the cloud has become a mandate. Many of the big-name accounting software providers such as QuickBooks are officially ending support for desktop solutions. Do you need multiple apps to make your accounting system work as desired?

accounting software 98

accounting software accountant Account accounted 98