RogerRossmeisl

FEBRUARY 7, 2021

When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your 2020 tax return. When filing a return, you do so with one of five tax filing statuses. In part, they depend on whether you’re married or unmarried on December 31.

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Mark Lee

NOVEMBER 18, 2024

Our clients typically want and value someone competent and experienced to help them satisfy their legal obligations to file annual accounts and tax returns, to work out how much tax they need to pay, to help them arrange their affairs to pay the minimum amount of tax that will be legally acceptable and so on.

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TaxConnex

FEBRUARY 24, 2022

But many business owners have been gut-punched during due diligence when an unanticipated sales and use tax?deficiency Once a business has determined a requirement to collect and remit sales tax, they must establish a way to charge sales tax, register with each required state and set up a process for filing the sales tax returns.?This

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CPA Practice

APRIL 24, 2023

Now is an excellent time to review how your clients’ legal structure affects their business and personal taxes. Let’s look at the types of entities, how taxes are filed, and when clients should consider changing their entities. However, the legally binding partnership agreement may outline a different partnership equity.

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TaxConnex

JANUARY 11, 2024

As a marketplace facilitator, TikTok spells out on its Shop Academy FAQ page that it’s legally required (under jurisdictions’ marketplace facilitator sales tax rules) to calculate, charge and collect applicable taxes on all sales made through TikTok Shop, which uses an unidentified third-party for sales tax compliance.

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TaxConnex

APRIL 25, 2024

There’s another consideration for going in-house: The legal liability is all yours if you miss a compliance matter. Vendor shopping Your compliance process starts with pinpointing your sales tax nexus and the taxability of your products and services in those states where you have nexus.

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Sales Tax accounting and finance auditor 264

TaxConnex

APRIL 14, 2022

In most states, the distinction is moot; however, some states apply different rates to these various tax types so it’s important to get this right. Similarly, some states will have different tax returns that you must file for these different tax types. Looking to understand more aspects of sales tax? Get in touch?

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TaxConnex

JUNE 11, 2024

Additional concerns Some states apply different rates to tax types and some states have different tax returns for different types of tax. The states will use this information to determine how frequently you will need to file.

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AdviceForTaxpreparers

SEPTEMBER 8, 2020

Once you have the coupon code you can promote it through whatever legal means that you deem appropriate (i.e., Join my LinkedIn group Accounting LIONs to add connections of accounting & tax professionals to your LinkedIn network. Free Tax Staff Guide. Tax Preparers: A Free Program to Stop Losing Important Notes.

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CPA Practice

NOVEMBER 26, 2024

Brian Tankersley, CPA, and Randy Johnston review HubSync , an all-in-one, modern client platform which automates the tax return and other key processes and provides a single gateway to drive “Best-in-Class” collaboration between professionals and their clients. It’s got an engagement letter wizard.

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TaxConnex

FEBRUARY 15, 2022

Three of these execs’ biggest in-house deficiencies to managing sales tax in 2022: bandwidth, internal knowledge and the right partner or solution. Over half of those surveyed also still use internal sources to prep and file sales tax returns, remit payment to tax jurisdictions and handle tax notices.

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TaxConnex

FEBRUARY 27, 2024

You have two initial ways to address your need for sales tax expertise: Your outside tax accountant or bringing tax expertise in-house. With the former, you risk that a professional versed in the tax code of the U.S. What resources will they need to handle this new responsibility?

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TaxConnex

JULY 30, 2024

That’s a term states often consider too broad; best to keep “professional services” as a defined activity of architecture, engineering, medical, legal and accounting. Telecom , by the way, is in our opinion one of the most taxed and regulated products/services across all states.

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South Dakota Alaska New Hampshire Montana 264

MyIRSRelief

OCTOBER 3, 2022

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. This can save you from legal liabilities.

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Accounting Insight

JANUARY 16, 2025

Do you feel ready to do your Self Assessment tax return with a smile this year? Late filing The deadline for filing your Self Assessment tax return online is midnight 31 January 2025. If you are over 3 months late submitting your tax return, you will have to pay more.

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ThomsonReuters

OCTOBER 18, 2024

Statutory reporting is a critical process for multinational corporations, involving the preparation and submission of financial statements to comply with legal obligations across various jurisdictions. Common examples include financial statements, tax returns, environmental data, employee information, and corporate governance reports.

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MyIRSRelief

DECEMBER 1, 2020

As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Another expense which you are legally entitled to claim a portion of your tax return back from, is travel.

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MyIRSRelief

SEPTEMBER 8, 2020

The IRS doesn’t care about how busy you are, they don’t care about years of backed up bookkeeping, financial worries, or anything else, they simply care about you filing your accurate business tax return annually and paying what you owe. Get a free evaluation today 1-877-788-2937. Log any expenses relevant to your business.

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SkagitCountyTaxServices

NOVEMBER 8, 2023

Specifically, that means high-income earners, partnership income tax returns, large corporations, and promoters “aggressively peddling abusive schemes.” Some history on this… The Bipartisan Budget Act of 2015 brought about significant changes in how the IRS handles partnership income tax returns.

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MyIRSRelief

DECEMBER 27, 2024

When the IRS decides to audit your tax returns, the experience can be daunting and stressful. The process involves meticulous examination of financial documents and can result in significant financial and legal consequences if discrepancies are found. Contact us today for case evaluation at 1-877-78-TAXES [1-877-788-2937].

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CTP

JANUARY 15, 2025

Each year, a number of audits are randomly chosen by the IRS, so the possibility of being audited is unavoidable even if your tax return has been filled out perfectly. Think of this as if you are actually preparing to go to court and defend your case from a legal point of view. This can include: Legal.

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TaxConnex

NOVEMBER 23, 2021

For more than a decade, states have attempted to determine the best approach to force businesses selling online (or remote sellers) to collect sales tax. For many states, sales tax is the single largest revenue source and thus critical to a balanced budget. Preparing and filing sales tax returns based on your filing frequencies.

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Sales Tax tax return Retail 246

CTP

OCTOBER 28, 2024

Administrative & Financial Support Moving into the realm of finances, a family office may handle bookkeeping, legal and estate planning oversight, cash flow management, financial advice, insurance management, accounting and tax filing oversight, and charitable giving management.

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CPA Practice

SEPTEMBER 26, 2024

This is perfectly legal. Conversely, tax evasion is illegal. Tax evasion is the practice of misrepresenting income or deductions or falsifying records or failing to file a return. It’s a common complaint by taxpayers around election time that requiring them to file tax returns or pay taxes is unconstitutional.

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MyIRSRelief

FEBRUARY 1, 2023

An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws. How to resolve employment 941 payroll taxiety problems?

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MyIRSRelief

MAY 19, 2023

In these situations, seeking professional tax help in New York can make a significant difference in resolving your tax problems and avoiding legal and financial consequences. Contact us for tax help today. Contact us for tax help today.

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New York payroll tax payroll audit 147

TaxConnex

OCTOBER 6, 2022

Are they nonprofits, resellers, government entities or in some other industry that has an exemption to sales and use tax? It’s typically just 36 to 48 months for a registered taxpayer who’s filing sales and use tax returns on time. The statute of limitations.

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Sales Tax tax return Start-ups 246

SMBAccountant

MARCH 8, 2023

Tax accountants must use the Internal Revenue Code (IRC) to provide accurate tax returns.

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MyIRSRelief

DECEMBER 1, 2020

As ruthless as the IRS can be, they aren’t completely heartless and they themselves know that businesses can’t be expected to hand over unreasonable amounts of profit every time they file their tax returns. Another expense which you are legally entitled to claim a portion of your tax return back from, is travel.

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Withum

MARCH 17, 2025

This can include reviewing documentation like tax returns, IRS forms, bank and brokerage statements, credit reports, or asset verification letters. The issuer would do this by requiring purchasers to agree to certain minimum investment amounts ($200,000 in the case of a natural person or $1,000,000 in the case of a legal entity).

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CPA Practice

APRIL 9, 2024

But when it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS warns. Social media—things like Facebook, Instagram and TikTok—can be used to circulate “wildly inaccurate tax advice,” the agency said. There are two other variations of the W-2 scheme.

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SMBAccountant

MAY 17, 2024

The Checklist Legal Structure and Registration (Get a lawyer) First, you must decide on your legal structure (e.g., Different legal structures offer varying degrees of liability protection for business owners. It will also have tax implications and different regulatory compliances the business will have to follow.

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CPA Practice

AUGUST 21, 2023

Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. It doesn’t matter that the use and sale of marijuana are legal under the laws of the state where the business is located.

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CPA Practice

MARCH 29, 2023

The Security Summit initiative is committed to protecting taxpayers, businesses and the tax system against fraud and identity theft. While the Dirty Dozen is not a legal document or a formal listing of agency enforcement priorities, it is intended to alert taxpayers and the tax professional community about various scams and schemes.

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Tax tax return payroll Legal 137

Anders CPA

FEBRUARY 27, 2024

Key Takeaways: To file a deceased person’s tax return, you will need to file Form 1040. Begin the process by obtaining the necessary tax forms. Calculating the individual’s income and deductions and completing the tax return are the next steps.

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CPA Practice

AUGUST 16, 2024

Resolve issues before filing tax returns and comply with federal tax laws. Ensure accurate tax returns, shortening the IRS audit process. publicly traded corporation with a legal requirement to prepare and submit SEC Forms 10-K, 10-Q, and 8-K or a privately held C-corporation, including foreign-owned.

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TaxConnex

NOVEMBER 18, 2021

If you are not registered with a state and not collecting and filing sales tax returns, then you are not protected by a statute of limitations. VDAs are generally reserved for non-registered taxpayers and taxpayers who haven’t been notified by the tax jurisdiction about non-compliance.

Sales 246

Sales Tax Non-Profits Start-ups 246