TaxConnex

AUGUST 26, 2021

Amazon’s net profit grew more than 80% in 2020. According to the National Retail Federation, non-store and online sales are expected to grow 18% to 23% this year over 2020. If these thresholds are met, the business has a sales tax obligation to register, collect and remit sales tax. trillion in 2020.

E-commerce 246

E-commerce Sales Tax Missouri 246

TaxConnex

DECEMBER 2, 2021

Many manufacturers, wholesalers, and distributors believe they have minimal sales tax obligations due to the likelihood of sales tax-exempt transactions. The concept to consider is whether the sales by these types of businesses are exempt or not from sales tax collection. However, there are numerous pitfalls to be aware of.

Manufacturing 245

Manufacturing Sales Tax Non-Profits 245

TaxConnex

MAY 26, 2022

However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. 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 tax obligations start with nexus. Assessing your footprint.

South Dakota 244

South Dakota Sales South Carolina Illinois 244

CPA Practice

OCTOBER 22, 2024

The AICPA has provided recommendations as a starting point for issuing guidance to cannabis businesses and tax practitioners, urging that they be implemented as soon as possible in anticipation of the potential rescheduling of marijuana as a controlled substance.

cpas 116

cpas Non-Profits Legal Tax 116

CTP

JANUARY 22, 2025

Saving for retirement is one arena where tax planners can provide value to their clients. Even your financially savvy clients may not be aware of the strategies they can use to increase the amount of money available during retirement and decrease the amount lost to taxes.

Tax 89

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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.

Sales 147

Sales Tax Non-Profits North Carolina 147

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. Summit maintains offices in North America and Europe.

Non-Profits 111

Non-Profits tax consultant auditor cpa firm 111

CPA Practice

NOVEMBER 11, 2024

For example, 1040 tax prep will likely soon be worth more than ever. The Future Of Individual Tax Prep Is Brighter Than Ever While AI has been everywhere in the last few years, practical AI built into traditional platforms is being augmented by platforms to help with productivity. Automation and AI are reducing the labor needed!

accounting firms 111

accounting firms Technology Account accountant 111

TaxConnex

NOVEMBER 29, 2022

more than one in four (26.7%) top finance professionals reported seeing an increase in state sales tax audits in the past two years. Almost half (48.5%) of respondents expect sales tax audits to become more frequent in 2022-23, and nearly one in five (18.5%) cited an audit as one of their chief worries for this year. market survey ,?more

audit 262

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TaxConnex

JUNE 27, 2024

There’s always something changing in the world of tax, especially sales tax. Two Penn State University students are using artificial intelligence to automate sales tax refunds for businesses, news reports said. The state assessed tax of more than $600,000 plus interest and $82,000 in penalties on the company, Ecocrete Inc.,

Sales 147

Sales Tax Tennessee Colorado 147

ThomsonReuters

APRIL 8, 2025

Highlights: Continuous Transaction Controls (CTC) mandates Business automation and CTC compliance Consequences of non-compliance and future readiness In the ever-evolving landscape of global commerce, Continuous Transaction Controls (CTCs) have emerged as a pivotal element in ensuring compliance and enhancing business automation.

Technology 52

Technology E-commerce AP Processes Tax 52

Withum

MARCH 17, 2025

Get the Latest Tax and Legislative Developments Withums National Tax Policy and Legislative Updates Resource Center is the go-to hub for the latest changes in tax laws and legislative developments from Washington, D.C. Missteps can lead to misstated financials, compliance issues, or unexpected hits to profitability.

financial statements 95

financial statements Manufacturing Non-Profits Tax 95

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.

corporation tax 130

corporation tax Tax tax return Non-Profits 130

ThomsonReuters

APRIL 14, 2025

Blog home Imagine a world where mastering taxes becomes your company’s secret weapon for boosting total revenue. Thomson Reuters and CERTifyTax are leading this change by providing an automated solution that simplifies exemption certificate management (ECM), elevates the entire tax function, and positively impacts the bottom line.

Tax 52

Tax audit E-commerce Non-Profits 52

Basis 365

NOVEMBER 26, 2024

If you’re looking to generate more profit to fund operating expenses, pay your team more, offer better benefits, and fuel growth—while still keeping more profit for yourself—it’s time to focus on key financial and pricing drivers. Here are actionable strategies to help you improve your gross profit margins and achieve your goals.

Non-Profits 59

Non-Profits Technology Tax tax planning 59

Basis 365

APRIL 15, 2025

To clearly illustrate the disconnect between their reported profits and actual cash available, the most effective tool to use was the Statement of Cash Flows. Indirect Method : Begins with net income and adjusts for non-cash items like depreciation and changes in working capital.

accrual accounting 64

accrual accounting accounting and finance Non-Profits financial statements 64

Xero

NOVEMBER 28, 2024

At Xeinadin Sittingbourne, our team of 30, mostly Xero-certified advisors, supports small and medium businesses across various industries, including construction, healthcare, and non-profits.

Non-Profits 87

Non-Profits bookkeeping Technology Healthcare 87

CPA Practice

NOVEMBER 19, 2024

Your CPA represents the ability to handle tasks related to auditing, tax, financial reporting, analytics, and internal controls. The CMA demonstrates your talent for financial analysis, budgeting, profitability, risk management, and strategic planning. Those with both CPA and CMA credentials command even higher salaries.

cma 122

cma CPA accounting and finance management accounts 122

Withum

JUNE 12, 2024

S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. A dramatic increase to the effective tax rate may catch many pass-through entity businesses by surprise.

income tax 127

income tax Tax corporation tax Non-Profits 127

Withum

JULY 20, 2022

As far as the IRS is concerned, not all tax scams should be treated equally. Last month the Service announced which scams made the list comprising the IRS’s “Dirty Dozen” for tax season 2022, meriting extra scrutiny. Included on the list is a wide range of tax evasion tactics. High Income Non-filers.

Tax 125

Tax Non-Profits tax return Government 125

CPA Practice

SEPTEMBER 18, 2023

Whether the market is up or down, it’s always a good time to keep your taxes in mind and, more specifically, how you can put yourself in an advantageous position by keeping more of your own money in your pockets. When it comes to tax optimization, there are two common strategies: Roth conversions and tax-loss harvesting.

Tax 119

Tax income tax Non-Profits tax planning 119

MyIRSRelief

MAY 1, 2024

Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls. Here’s where a qualified business tax professional becomes your secret weapon.

Tax 130

Tax tax planning audit Non-Profits 130

Cherry Bekaert

MAY 3, 2024

Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities. With proper tax planning a company is able to reduce its worldwide effective tax rate as it expands overseas. What Is Global Tax Minimization? international tax rules. income tax.

Tax 104

Tax income tax Non-Profits corporation tax 104

CTP

JANUARY 22, 2025

What if you could save for these necessary expenses and lower your tax liability at the same time? This article will cover the tax benefits that come with HRAs and the different types available. The funds received are tax-free for the employee. This allows you to receive a tax benefit from both.

Tax 52

Tax Expense Reimbursements Non-Profits corporation tax 52

CTP

SEPTEMBER 29, 2021

Starting with tax year 2020, partnerships must report their capital accounts using the tax basis method. Capital accounts show the equity in a partnership owned by each partner, including items like initial contributions made by each partner, business profits […].

Tax 98

Tax Non-Profits Account accounted 98

Nancy McClelland, LLC

JANUARY 12, 2025

It’s tax time, you’re digging through your records… and your preparer or tax software asks about tax payments you’ve already made. Initially, this was to confirm the amounts of stimulus payments and child tax credit payments. Um, was I supposed to track those? No worries — the IRS did.

Tax 52

Tax tax return Account accountant 52

CTP

OCTOBER 5, 2021

Starting with tax year 2020, the IRS is requiring partnerships to report their capital accounts using the tax basis method. The post Partnership Tax Complications: Navigating Negative Capital Accounts and DROs appeared first on certifiedtaxcoach.

Tax 98

Tax Non-Profits Account accountant 98

Withum

NOVEMBER 22, 2024

The subject matter experts based in the Boca Raton office (all local residents), provide comprehensive services to high-net-worth individuals , family offices , businesses , and non-profits in South Florida. Growing our presence in Boca Raton is a key milestone for Withum, reflecting our expanding client base in South Florida.

Florida 105

Florida Real Estate Non-Profits Healthcare 105

ThomsonReuters

NOVEMBER 1, 2024

← Blog home Global indirect tax and e-invoicing compliance is more critical than ever, with corporations needing to navigate a complex web of regulations and mandates. For global companies, the stakes are high: non-compliance can result in substantial financial penalties, increased audit risk, and reputational damage.

Tax 52

Tax Technology audit income tax 52

Withum

AUGUST 28, 2024

How could a company like Coca-Cola underpay its taxes by $2.7 What gave rise to this astonishing tax bill? Coca-Cola Case Overview The tax court decision on the Coca-Cola case demands the reallocation of profits to Coca-Cola’s U.S. headquarters and, consequently, an underpayment of U.S.

Tax 98

Tax Non-Profits audit Advertising/ Marketing 98

xendoo

NOVEMBER 2, 2021

When businesses are born, business owners are likely not daydreaming about taxes and payroll. Yet, they still face the unique challenge of figuring out how to pay themselves, file their taxes, and maximize their tax savings. Like most things involving taxes, it gets complicated. Payments to non-shareholder employees.

Tax 96

Tax Non-Profits income tax corporation tax 96

Withum

MARCH 19, 2024

Whether you’re a small streamer making a few hundred dollars per month or taking home part of the multi-million dollar prize pool at The International, understanding that the income earned will be taxed is extremely important. According to the IRS, individuals that operate a business do so with the intention of making a profit.

Gaming 105

Gaming Tax Non-Profits Sports 105

CPA Practice

JANUARY 22, 2024

In a news release today reminding taxpayers that they once again must answer a digital asset question and report all digital asset-related income when they file their 2023 income tax return, the IRS noted that it has included a crypto question on four additional tax forms ahead of filing season. Nonresident Alien Income Tax Return.

tax return 119

tax return income tax Tax Non-Profits 119

ThomsonReuters

OCTOBER 18, 2024

Highlights: Statutory reporting ensures transparency and compliance by mandating financial and non-financial disclosures to regulatory bodies. Statutory reporting is the mandatory disclosure of financial and non-financial information by companies and organizations to designated government agencies and regulatory bodies.

Non-Profits 52

Non-Profits Legal financial statements tax return 52

ThomsonReuters

NOVEMBER 14, 2024

Highlights: Data analytics types : Useful data for predictive modeling includes historical financial data, operational data, customer data, market and economic data, and non-financial performance metrics. AI-powered algorithms build upon historical data, as well as external and non-financial data, to construct predictive models.

accounting firms 52

accounting firms Account accountant accounted 52

Reckon

FEBRUARY 20, 2025

The deadline for the new tax reporting requirements for Not For Profit (NFP) organisations with an active ABN is set for 31st March 2025. However, the new reporting scheme has left some NFPs uncertain of their status or tax obligations. This is a drastic change from how tax exemption was calculated for NFPs.

Non-Profits 52

Non-Profits income tax Tax Government 52

Reckon

AUGUST 8, 2022

Whether you’re already investing in currencies like Bitcoin or Ethereum, or perhaps considering dipping a toe in the pool, you need to understand the tax implications in Australia. Let’s jump into our crypto tax guide in Australia for 2022. A blockchain is a non-hackable distributed ledger which exists across a network of computers.

Tax 98

Tax Non-Profits Government income tax 98