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Michigan Tax tax return 
TaxConnex
JANUARY 7, 2025
Its a safe bet that few of them hit the target, which leads to returns, which leads to refunds from sellers, to which leads to the nagging question: Does sales tax get refunded along with the purchase price? The more accurate answer, particularly when something as complex as sales tax gets involved, is: Probably, but watch the details.
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TaxConnex
MARCH 24, 2022
In the world of sales tax, household names like Amazon, eBay and Etsy are major marketplace facilitators. Not only that, the marketplace facilitator in many situations assumes the responsibility for collecting and remitting the applicable sales tax. But there are, as always in the world of sales tax, conditions.
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CPA Practice
MARCH 7, 2025
A federal jury convicted a Michigan businessman on March 5, 2025, for not paying employment taxes and not filing his own individual income tax returns.
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TaxConnex
MAY 30, 2023
You know all about reaching sales tax nexus: selling enough or having a physical presence in a tax jurisdiction sufficient to create a connection with that jurisdiction and create an obligation for you to collect and remit sales tax. But business and sales patterns change over time. What, if anything, do you have to do then?
130 
TaxConnex
OCTOBER 3, 2023
There’s always something changing in the world of tax, especially sales tax. billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. The other prevalent argument is that sales tax holidays are a way of giving tax relief. “The
147 
TaxConnex
AUGUST 1, 2023
You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? And the state or local sales tax you also charged on the purchase?
130 
TaxConnex
SEPTEMBER 7, 2023
Nonprofits are often thought to be exempt from sales taxes, but is that correct? Other stats say more than 2 million charities exist that are tax-exempt according to Internal Revenue Service rules. Are non-profits exempt from sales tax obligations? These same organizations are not necessarily exempt from sales tax.
147 
CPA Practice
APRIL 7, 2023
The Department of Justice is warning taxpayers to choose their return preparers wisely as the April 18 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest.
132 
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.
147 
MyIRSRelief
AUGUST 2, 2024
This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC). Get professional tax help by calling our tax firm at 1-877-788-2937. Recordkeeping Good recordkeeping is essential for tax compliance.
130 
CPA Practice
JANUARY 8, 2024
With the 2024 tax filing season starting later this month, the IRS is launching a special Tax Professional Awareness Week , from Jan. 8-14, 2024, to assist tax professionals on what to expect during the filing season and start the year on the right foot. 10: Answering Your Frequently Asked Questions on Due Diligence Friday, Jan.
111 
TaxConnex
JUNE 1, 2023
Last time, we looked at trailing nexus and a few reasons you might want to cancel your sales tax registration with a state. We say “ironclad” because often a state will dispute whether you can cancel your registration because they don’t want to lose sources of tax revenue. So, is cancelling your sales tax registration simple?
130 
CPA Practice
APRIL 9, 2024
As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Social Security Tax : Employers and employees each contribute 6.2%
110 
CPA Practice
APRIL 12, 2023
million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. People face a July 17 deadline to file their returns.
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CPA Practice
DECEMBER 19, 2023
The start of a month typically brings some number of tax-related changes. Erie County, New York, exempts energy sources and services New York state sales tax doesn’t apply to retail sales of residential energy sources and services, but local sales tax does apply in many jurisdictions, including Erie County. cents per gallon.
111 
CPA Practice
AUGUST 21, 2023
By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Here is the main federal income tax implication. Legal marijuana businesses are an enforcement priority of the IRS.
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CPA Practice
MARCH 21, 2024
Property tax compliance can be just as puzzling, and getting it right in some states can be more complex than in others. This blog post sheds light on what makes personal property tax compliance in certain states particularly tricky. This helps explain why many companies find property tax compliance time-consuming.
119 
TaxConnex
AUGUST 4, 2022
Laws governing marketplace facilitators popped up when states saw that platforms were charging sales tax on the sale of their own or certain third-party sales but not on all sales. This produced a gap in tax collection. Recently Hawaii, Texas, Wisconsin, Illinois, Michigan, Iowa, Louisiana and North Carolina added laws.
130 
CPA Practice
FEBRUARY 16, 2024
Due to severe storms in August 2023, individuals and business taxpayers in some Michigan counties have until June 17, 2024, to file various federal individual and business tax returns and make tax payments, the the Internal Revenue Service has announced. Quarterly estimated income tax payments normally due on Sept.
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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. What is income tax?
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Withum
DECEMBER 19, 2022
Whether they grew up playing in the parks of Hershey, Pennsylvania, the frequent downpours of Oxfordshire, UK, the bitter cold of Detroit, Michigan, or the manicured training fields of Borussia Dortmund, most aspiring pro soccer players dream of playing in the World Cup. The question is – how much does this equate to in taxes owed to the IRS?
120 
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.
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CPA Practice
JUNE 21, 2023
Join SafeSend, as they share the journey of solving pain points experienced on the front-end of the tax process and define a new way to get your firm and clients tax ready! Field of Study: Business Management & Organization Register Today Presented by Shirley Chen is a SafeSend Product Enthusiast based in Commerce, Michigan.
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MyIRSRelief
JULY 3, 2023
Contact us for professional tax help today! During an ERC audit, the IRS reviews the business’s records, including payroll records, tax returns, and supporting documentation related to ERC claims. What Skills Should I Look for in a Tax Professional for ERC Audit Representation? Understanding ERC IRS Audits 1.1
130 
CPA Practice
JULY 19, 2023
A 529 is a tax-advantaged account into which parents – and anyone, really – can deposit money in anticipation of one day paying college expenses. Contributions are not federally tax-deductible, but many states do offer a state tax deduction. You can’t double-dip by getting the tax credit while paying with 529 money.
98 
CPA Practice
FEBRUARY 29, 2024
Businesses with income from farming or fishing that have not paid all of their 2023 tax year estimated taxes by Jan. 16 must file their tax returns and pay their entire tax due on or before March 1. Only those taxpayers that have paid their estimated tax payments by Jan. See Topic no.
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CPA Practice
AUGUST 16, 2024
Krystal Davis, 37, was sentenced Tuesday in Wayne County Circuit Court for accounting violations—being an unlicensed certified public accountant and two counts of violating the state occupational code-being an unlicensed real estate agent, the Michigan Attorney General’s Office said. Visit detroitnews.com.
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CPA Practice
AUGUST 15, 2024
Krystal Davis, 37, was sentenced Tuesday in Wayne County Circuit Court for accounting violations—being an unlicensed certified public accountant and two counts of violating the state occupational code-being an unlicensed real estate agent, the Michigan Attorney General’s Office said. Visit detroitnews.com.
52 
CPA Practice
SEPTEMBER 12, 2024
Avantax Welcomes $60M Advisor Ali Kazemi and His Northern California-based Sentinel Financial Group Avantax, a Dallas-based leader in tax-intelligent financial planning and wealth managemen, recently welcomed Ali Kazemi, a seasoned financial services industry veteran with 30 years of experience.
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CTP
NOVEMBER 25, 2022
We’re tax advisors. So, not surprisingly, we’re going to tell you about the most tax-advantageous way to start saving for college. The first 529 College Savings Plan was launched by the state of Michigan in 1986. In most states, the money you contribute to your plan is tax-deductible on your state income tax return.
93 
ThomsonReuters
APRIL 9, 2021
Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. The credit will be against the employer’s share of Medicare tax. in February. What’s on the horizon?
98 
CPA Practice
APRIL 14, 2023
have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.
52 
CPA Practice
APRIL 13, 2023
have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. Under the law, taxpayers usually have three years to file and claim their tax refunds.
52 
CPA Practice
AUGUST 18, 2023
Join SafeSend’s Andrew Hatfield, co-founder and Chief Growth Officer, as he shares the journey of solving pain points experienced on the front-end and back-end of the tax process. Discover the fastest and easiest way get your firm and clients from “tax ready” to “finish & file” using automation.
52 
ThomsonReuters
MARCH 22, 2021
Keeping Up with Taxes. The legislation levied a direct tax on the American Colonies in an effort to pay off debts and defend new American territories won from the French in the Seven Years’ War. So, why the brief history lesson on American Colony taxes? For payroll, in particular, there are a number of taxes.
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ThomsonReuters
JUNE 22, 2021
But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. Beginning July 1, new forms will be used to report withholding tax.
72 
CPA Practice
SEPTEMBER 17, 2024
Her dedication to providing high-quality service in audit and tax work, and her ability to manage complex projects have been invaluable to both our team and our clients. Since joining the firm in 2021, Brianna has excelled in accounting, auditing, compliance, financial statement preparation, tax return preparation, and special projects.
52 
Going Concern
AUGUST 2, 2024
Get great candidates in tax, audit, and accounting in your inbox every week with no obligation to hire. payment from the consulting company’s international arm which he did not initially reveal to the parliamentary inquiry into the 2015 leaking of confidential government tax reform information. It’s free! PwC chief’s $1.2m
59 
CTP
NOVEMBER 25, 2022
We’re tax advisors. So, not surprisingly, we’re going to tell you about the most tax-advantageous way to start saving for college. The first 529 College Savings Plan was launched by the state of Michigan in 1986. In most states, the money you contribute to your plan is tax-deductible on your state income tax return.
40 
CPA Practice
DECEMBER 29, 2023
But we just don’t do it in the technology lab, for example, the new deployment in Michigan of power chargers under the streets, and that’s being done in Germany and Sweden and lots of other places. If you’re in the Thomson world, the path is a little more convoluted with Ultra tax being their their major bet.
59 
CPA Practice
AUGUST 7, 2023
Taylor, Kiplinger Consumer News Service (TNS) Does the order of names on your joint federal income tax return reveal significant things about you and your partner? A recent study suggests the answer could be yes—that tax return name order may hold some clues about social norms and beliefs. So, is this study relevant?
98 
Going Concern
NOVEMBER 10, 2023
See also: Academics Let AI Ruthlessly Slander Big 4 Firms, They’re Very Sorry They Didn’t Think to Fact Check Talent Don’t slack on hiring tax talent, pre-game your busy season and be ready with a fully staffed team when things get crazy. One customer says their business tax documents haven’t been filed since 2019.
122 
ThomsonReuters
MARCH 8, 2021
The Senate version continues to include the extension of the paid sick and family leave and employee retention tax credit extensions. Unemployment tax rate rollback. Hawaii Governor Ige signed legislation into law that will roll back the amount of unemployment tax employers in the state will pay in 2021. State and Local News.
52 
ThomsonReuters
MARCH 15, 2021
March 15 used to be a day some might beware of for tax reasons because from 1918 to 1954 this date was the income tax filing deadline. Increasing the earned income tax credit percentage and phase-out percentage from 7.65% to 15.3% IRS tax tip on repayment of deferred Social Security taxes. In the U.S.,
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