TaxConnex

NOVEMBER 29, 2022

Tangible personal property (TPP) is generally taxable unless the specific type of TPP you sell is identified as non-taxable by statute or the client has a valid exemption certificate (see note below). For example, accepting a resale exemption certificate from a non-profit claiming an exemption might not be appropriate.

audit 262

audit auditor general ledger Non-Profits 262

TaxConnex

DECEMBER 2, 2021

An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example. Sales of tangible personal property (TPP) are presumed taxable but certain exemptions can apply.

Manufacturing 245

Manufacturing Sales Tax Non-Profits 245

TaxConnex

SEPTEMBER 7, 2023

They also frequently sell TPP such as merchandise, memberships, books and so forth that for-profit companies generally have to charge and collect sales tax on. Are non-profits exempt from sales tax obligations? Minnesota exempts non-profits from collecting sales tax when the sales are for fundraising.

Sales 147

Sales Tax Non-Profits North Carolina 147

AccountingDepartment

OCTOBER 15, 2024

Navigating the complex world of non-profit accounting can feel like a daunting task for many non-profit managers. For non-profits striving to maximize their impact, understanding and overcoming common accounting challenges is essential.

Non-Profits 85

Non-Profits Account accountant accounted 85

RogerRossmeisl

DECEMBER 15, 2024

Tax planning objectives Youll eventually sell shares you acquire by exercising an NQSO, hopefully for a healthy profit. Have most or all of that profit taxed at lower long-term capital gain rates. The post Unlocking the Mystery of Taxes on Employer-Issued Non-Qualified Stock Options appeared first on Roger Rossmeisl, CPA.

Non-Profits 130

Non-Profits Tax tax planning CPA 130

TaxConnex

MAY 26, 2022

An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example. However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations.

South Dakota 244

South Dakota South Carolina Sales Illinois 244

Withum

MARCH 2, 2024

In 2022, the National Small Business Association, an Ohio non-profit corporation, sued the US Treasury Department alleging the mandatory disclosure requirements exceed Congress’ authority under Article I of the Constitution and violate the First, Fourth, Fifth, Ninth, and Tenth Amendments.

Ohio 140

Ohio Non-Profits tax services Tax 140

Withum

MAY 23, 2022

Upon conversion from a non-profit entity to a for-profit entity, which is a taxable transaction. This is typically used when the entity is not usually profitable and has little if any intangible assets. Litigation, which might include ownership disputes or matrimonial actions. Approaches Considered. Conclusion.

Non-Profits 128

Non-Profits Legal Tax Sales 128

CPA Practice

APRIL 23, 2024

I announced the 2-in-2 compensation plan in January 2008, which would double every employee’s compensation in two years if we hit revenue and profit targets. Alternative Incentive Solutions I am a major fan of non-monetary incentives such as unique experiences or gifts with individual meaning.

Non-Profits 135

Non-Profits Oregon Healthcare Education 135

SMBAccountant

JUNE 21, 2023

Income Statement: The income statement, also referred to as the profit and loss (P&L) statement, is a financial report that showcases a company's revenues, cost of goods sold, expenses, and gains and losses over a specific period. It focuses on the company's operational activities during that period and determines its profitability.

Non-Profits 130

Non-Profits accounting equation financial statements accounts payable 130

Intuitive Accountant

NOVEMBER 14, 2022

Day 2 of the webinar series kicks off with a panel discussion on profitable accounting miches in the construction, ecommerce and non-profit sectors. Sign up to join Greg Bossen, Kelly Gonsalves and Diane Gilson here.

Non-Profits 98

Non-Profits Construction Account accounted 98

Accounting Insight

OCTOBER 25, 2024

The three profits included in accounting textbooks: gross profit, operating profit and net profit are a good start for accountancy students. Limiting them to just three types of profit is intended to avoid overburdening young accountants at the beginning of their studies. They introduce the other profits gradually.

Non-Profits 98

Non-Profits Account accountant accounted 98

Cherry Bekaert

MAY 24, 2024

Host Kat Kizior , Senior Associate at Cherry Bekaert, is joined by special guest Robert Shea , CEO of GovNavigators, to discuss2 CFR 200 uniform guidance updates and how these changes will affect state and local governments, non-profits and public entities.

Non-Profits 105

Non-Profits Government 105

CPA Practice

JANUARY 18, 2023

ICPAS serves an extraordinary community of more than 22,600 accounting and finance professionals in a variety of CPA and non-CPA roles positioned throughout the public accounting, corporate finance, not-for-profit, consulting, education, and government sectors. Giving Back.

Illinois 125

Illinois CPA Non-Profits cpas 125

CPA Practice

DECEMBER 3, 2024

This new capital—and Summit’s commitment to operational excellence and deep experience supporting profitable growth—will help us accelerate our growth strategy, deepen relationships with existing clients, and set new standards in the dynamic middle market.

Non-Profits 111

Non-Profits tax consultant auditor cpa firm 111

CPA Practice

SEPTEMBER 10, 2024

The annual Global Finance Trends survey conducted by consulting firm Protiviti finds that 61% of CFOs and finance leaders rate data security and privacy as a high priority in the coming year, followed by financial planning and profitability analysis and strategic planning.

Non-Profits 111

Non-Profits Technology Finance Government 111

CPA Practice

OCTOBER 22, 2024

“It’s imperative that the federal government’s tax administration bodies provide guidance to these profitable businesses and their advisors in advance of the rescheduling of marijuana to help ensure a clear understanding of their federal tax obligations and mitigate non-compliance.”

cpas 116

cpas Non-Profits Legal Tax 116

inDinero Accounting

OCTOBER 31, 2023

Our experts have extensive experience in the non-profit sector and are a more affordable option than a full-time employee or team. Not-for-profit organizations have a fiduciary responsibility to show their donors what their finances look like at the end of each fiscal year. Did your analysis reveal anything similar?

accrual accounting 104

accrual accounting Non-Profits accounting and finance financial statements 104

Accounting Insight

OCTOBER 17, 2024

Profit and Loss (P/L) Accounts In my early days as an accountant, I prepared a ‘profit and loss account’ for my clients, shortened to P/L account. This too is illogical because a company cannot have both a profit and a loss at the same time. Their accounts show either a profit or a loss. Profit is not income.

financial statements 105

financial statements Account accountant accounted 105

Withum

JULY 20, 2022

Conservation easements consist of a grant of an easement by a landowner to a qualified organization, typically a non-profit, in which the donor and recipient agree to permanently restrict the development and use of the donated land for the purpose of achieving conservation objectives. High Income Non-filers.

Tax 125

Tax Non-Profits tax return Government 125

MyIRSRelief

NOVEMBER 17, 2023

In a C Corporation, profits are taxed at the corporate level and then again at the individual level when distributed as dividends. In contrast, S Corporations only tax profits at the individual level. However, any additional profits can be distributed as dividends, which are not subject to self-employment taxes.

corporation tax 130

corporation tax Tax tax return Non-Profits 130

CPA Practice

SEPTEMBER 17, 2024

Intuit has launched Intuit Enterprise Suite , a configurable suite of integrated financial products designed to seamlessly scale and enhance productivity and profitability for businesses as they grow. It also monitors business performance with reports and real-time dashboards.

Technology 105

Technology quickbooks Non-Profits payroll 105

PANALITIX

MAY 31, 2021

Specialization is one way to distinguish your firm from the competition and generate more profitable work. and take action to increase profit. To prepare budgets, analyze and recommend on expenses such as labor, materials, shipping and production to maximize efficiency and profitability. RESOURCES / ARTICLES. What and How?

Account 130

Account accountant accounted Non-Profits 130

CPA Practice

APRIL 27, 2023

Ideal candidates for grants are: Businesses looking to expand or develop a real estate project Scaled non-profits Certified minority-owned companies Of course, other businesses can also qualify for grants, but those that fit into the categories above are ideal candidates.

Non-Profits 124

Non-Profits Real Estate tax services Tax 124

CPA Practice

DECEMBER 10, 2024

Defined strategy and planning are key to a successful and profitable CAS practice. Defined client niches are key to promoting standardization and efficiency and, ultimately, increasing profitability. Practices with a formal CAS business plan report nearly $10,000 more in median average annual client revenue. 30 at 1 p.m.

Non-Profits 101

Non-Profits CPA public accounting Tax 101

Going Concern

NOVEMBER 15, 2023

Outside of EY, Janet serves as the Board Chair for Women’s World Banking, a global non-profit devoted to giving more low-income women access to critical financial tools.

Non-Profits 116

Non-Profits Pennsylvania New York Technology 116

CPA Practice

FEBRUARY 5, 2024

Committed to fostering diversity in accounting, Ashley co-founded the Minority Accounting Career Resource Society (MACRS), a non-profit dedicated to empowering minority students to excel as CPAs. What are you doing to make a difference in the profession, your community, the world?

CPA 98

CPA Non-Profits accounting careers cpa firm 98

Acterys

NOVEMBER 24, 2024

Manual Data Gathering and Consolidation Gathering data from multiple financial and non-financial systems can be one of the most tedious and time-consuming parts of year-end planning. Data Visualization for Clear Insights Year-end business planning often involves presenting financial data to executives and stakeholders.

Finance 130

Finance accounting and finance Non-Profits quickbooks 130

CPA Practice

NOVEMBER 10, 2023

We work with public, private and not-for-profit organizations of every size and sector, leading healthy exchanges between business leaders and policy makers to drive initiatives such as a fair and predictable tax environment in Ohio.

Ohio 115

Ohio cpas CPA Non-Profits 115

Cherry Bekaert

NOVEMBER 9, 2023

Catholic dioceses and parishes are not-for-profit entities subject to not-for-profit aggregation rules. Many not-for-profits were not able to perform a range of services related to the church’s mission that do not generate revenue. This greatly limits the amount of qualified wages.

Non-Profits 104

Non-Profits Government audit Tax 104

Withum

AUGUST 28, 2024

Coca-Cola Case Overview The tax court decision on the Coca-Cola case demands the reallocation of profits to Coca-Cola’s U.S. The IRS argued that Coca-Cola’s transfer pricing position resulted in an improper allocation of profits, leading to an understatement of income to Coca-Cola U.S. headquarters.

Tax 98

Tax Non-Profits audit Advertising/ Marketing 98

CPA Practice

JULY 5, 2023

To be sure, plenty of men also sign up for unpaid gigs, whether for non-profits or money-making businesses. Though the practice has come under fire in recent years for penalizing low-income students, research shows that 43% of internships by for-profit companies remain unpaid.

Non-Profits 130

Non-Profits Massachusetts audit Start-ups 130

Xero

JULY 31, 2024

“The whole point of Building Up is to connect people with barriers to employment to careers in construction,” explained Marc Soberano, founder of non-profit project Building Up. “We We’re really looking to grow, and as a non-profit, it’s not like you can go and easily get some equity to think about growth.”

Construction 71

Construction Non-Profits Finance 71

MyIRSRelief

FEBRUARY 1, 2022

Answer : A CPA is a highly trained professional that is capable of keeping track of all the financial information about your specific business, profit and loss, balance sheet statements. Question #1: What do CPA’s offer to me as a business owner. Question #3 Can I save money by hiring an EA or CPA?

CPA 130

CPA Non-Profits cpa firm Construction 130

Withum

FEBRUARY 28, 2022

Cryptocurrency continues to gain popularity (see our previous article here ), the Metaverse is constantly expanding, and NFTs (Non-Fungible Tokens) are trending. Not-For-Profit Services. For more information on this topic, please contact a member of Withum’s Not-For-Profit team. Welcome to the future! NFP’s Interest in NFTs.

Non-Profits 131

Non-Profits Tax Sales Technology 131

CPA Practice

JULY 9, 2024

The report is inclusive of all non-farm private employers across businesses of all sizes. The June labor market update from the Bureau of Labor Statistics continued the trend of weakness under strong headline non-farm payroll gains and downward revisions in job gains from previous months.

Entertainment 98

Entertainment Non-Profits small business accounting payroll 98

Cherry Bekaert

NOVEMBER 2, 2023

This allows non-profits and certain governmental entities to receive credits in the form of cash payment rather than as nonrefundable credits. 2023 has been an exciting year for clean energy investments as more guidance has been issued surrounding the Inflation Reduction Act (IRA).

Construction 103

Construction Non-Profits Manufacturing Real Estate 103