TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

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CPA Practice

NOVEMBER 10, 2023

For many small business retailers, managing a point-of-sale (POS) system comes with the territory of owning a store. But, every year, these businesses must also prove that they’ve kept track of sales and are correctly reporting their earnings. Enter the small business accountant. By Eric Thornton. Let’s dig in.

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xendoo

NOVEMBER 9, 2021

With the year coming to an end, tax return season is just right around the corner. For small businesses, that means being prepared to find all of the small business tax deductions you can to minimize your payout to the IRS. . When filing taxes, knowing the deadlines is an essential part of being organized and prepared.

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business tax Tax tax preparation tax return 98

RogerRossmeisl

JULY 21, 2024

If you’re selling property used in your trade or business, you should understand the tax implications. To simplify this discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a year.

Tax 176

Tax CPA Sales business tax 176

Withum

JUNE 1, 2022

Unfortunately, a deteriorated supply chain and increased inflation most likely will increase the tax bill for businesses that use the LIFO method of accounting. Utilizing LIFO when costs are rising due to inflation is generally advantageous for income tax purposes because sales prices are offset by higher inflated purchase costs.

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business tax Tax income tax tax return 119

RogerRossmeisl

NOVEMBER 6, 2023

If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a tax standpoint, a transaction can basically be structured in two ways: 1. Stock (or ownership interest) sale.

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Tax income tax CPA Sales 188

xendoo

APRIL 8, 2022

Many small business owners miss out on tax savings simply because they aren’t aware of what tax deductions are available. As professional accountants, we know all the small business tax deductions that can save you money, and we’re sharing them in this tax deductions checklist. . What is a tax deduction?

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business tax Tax Education tax preparation 97

ThomsonReuters

FEBRUARY 6, 2024

Jump to: When to consider an automated tax software solution Benefits of sales tax automation software What if you don’t have a complex business model? Automation guarantees the correct indirect tax calculated in every jurisdiction where you do business. Where is the sales tax due?

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KROST

OCTOBER 21, 2021

In Late September 2021 Governor Newsome signed Assembly Bill (AB) 150 establishing the Main Street Small Business Tax Credit II. This bill provides financial relief to qualified small businesses for the economic disruptions in 2020 and 2021, resulting in unprecedented job losses. Tax , Tax Specialty Services.

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inDinero Tax Tips

OCTOBER 22, 2024

You may have heard that Nevada LLC taxes are favorable to business owners. This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate.

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xendoo

JANUARY 12, 2022

You’ll thank yourself for filing business taxes according to the prescribed deadlines. Not only will this save you from sweating over a shoebox full of receipts, but making on-time tax payments will save you from any late fees or interest payments. What Is the Business Tax Filing Deadline for 2022?

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business tax Tax tax return tax preparation 98

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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tax services California Tax tax preparation 147

CPA Practice

JULY 28, 2023

By Gail Cole Is sales tax based on shipping address or billing address? Understanding how sales tax works is fundamental for every retailer. If you’re doing business in a state with a sales tax, you may know you need to register for sales tax, then collect and remit tax as required by law.

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Sales Retail Tax New Mexico 98

Patriot Software

JANUARY 4, 2023

have some type of state sales tax. Some states might even have different sales tax rates or rules for local taxes or online sales. Chances are, your business is probably in a state with sales tax. To remain compliant, you must know sales tax laws by state.

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Sales Tax Washington business tax 105

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. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

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payroll tax payroll audit Tax 147

RogerRossmeisl

FEBRUARY 13, 2024

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. That translates into a 0% federal income tax rate on QSBC stock sale profits! The post Tax-Favored Qualified Small Business Corporation Status Could Help Your Thrive appeared first on Roger Rossmeisl, CPA.

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Tax income tax Legal CPA 151

Withum

JUNE 8, 2022

The IRS’ “Dirty Dozen ” is an annual list warning taxpayers of abusive tax arrangements, schemes, scams, and shams. If challenged by the IRS, accuracy-related and civil fraud penalties could amount to 75% of any underpayment of tax. Business Tax Services. What if I do nothing? Contact Us. Contact Us.

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SkagitCountyTaxServices

AUGUST 19, 2022

Though that said, there does seem to be some easing on both of these fronts – and not necessarily because of the “Inflation Reduction Act” (more on that and business tax deductions in a minute). It can be difficult to see your way through it all and keep your business afloat. Business Tax Deductions: Meals and mileage.

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business tax Tax Real Estate CPA 89

Snyder

FEBRUARY 7, 2023

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. Contents: 1.

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Tax business tax Real Estate Legal 98

Patriot Software

NOVEMBER 8, 2022

If you’re like many small business owners, you need to collect sales tax on some of your offerings. Your sales tax responsibilities depend on your location. This fact surely begs the question: do I charge sales tax for out-of-state customers? And, you need […] READ MORE.

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Sales Tax business tax accountant 88

MyIRSRelief

OCTOBER 11, 2024

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S.

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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.

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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.

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South Dakota Tax Maryland income tax 124

MyIRSRelief

NOVEMBER 17, 2023

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements.

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Patriot Software

OCTOBER 27, 2022

If your business operates in a location that imposes sales tax, you are likely familiar with the concept of sales tax. But, have you heard of sales tax nexus? Mastering sales tax nexus boils down to one question: What is nexus?

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Sales Tax business tax accountant 82

xendoo

MARCH 4, 2022

Many ecommerce owners understand the importance of making sales, but do you know how to record ecommerce sales for your accounting system? Ecommerce business owners have some degree of flexibility that physical storefronts cannot afford. Recording sales is a big part of that. Submitting tax returns.

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Sales bookkeeping Account accountant 105

RogerRossmeisl

MAY 5, 2023

If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit in mind. The post Taking Advantage of the Rehabilitation Tax Credit When Altering or Adding to Business Space appeared first on Roger Rossmeisl, CPA.

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Tax CPA Sales business tax 154

CPA Practice

JANUARY 16, 2025

The integrated offering from Swap and Avalara reduces cross-border complexity and compliance risk and ensures duties, taxes, and fees are paid at checkpoints to improve cart conversion in more marketplaces.

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Sales Retail Tax business tax 109

RogerRossmeisl

OCTOBER 17, 2020

Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then you should be aware of the complex rules that apply to determine the tax rules for deducting software, whether you’re buying, leasing or developing.

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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?

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tax preparation E-commerce Tax income tax 98

Withum

FEBRUARY 6, 2023

It’s that time of year – welcome to your tax season activities. Struggling With Tax Compliance and Data Management? Inter-company and Transfer Pricing Transactions ; distinguishing entries between related entities or groups for proper reporting on consolidated tax returns.

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Withum

JUNE 6, 2022

The ruling is the fourth time the IRS has addressed the health exclusion in section 1202(e)(3) , the third time it has addressed the exclusion for businesses where the principal asset is the reputation or skill of one or more of its employees, and the first time the IRS has opened the door for pharmacy businesses to qualify for the QSBS exclusion.

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Tax income tax Pharmaceutical Manufacturing 126

Patriot Software

DECEMBER 20, 2022

You know that little line at the bottom of your receipts and invoices that says Sales Tax? As a business owner, it’s not your responsibility to pay it out of pocket. But it is your responsibility to collect and remit sales tax. If you don’t know how to pay sales tax for small business to […] READ MORE.

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Withum

JUNE 8, 2022

The Infrastructure Investment and Jobs Act (IIJA), enacted into law on November 15, 2021, reinstated and modified two Superfund excise taxes, effective July 1, 2022. The first is the tax on chemicals under section 4661 and the second is the tax on imported substances under section 4671. The IIJA lowered this threshold to 20%.

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Tax Manufacturing tax return tax services 121

xendoo

FEBRUARY 15, 2022

If you own a business or earn a significant income, you may be wondering how to manage your tax situation and how much a tax consultant costs. There is a lot to consider when weighing the costs and benefits of hiring a tax consultant. A tax consultant can help with any of these issues. Read on to find out.

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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.

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business tax Tax Alaska South Dakota 59

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.

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