TaxConnex

SEPTEMBER 21, 2021

When attempting to manage your sales tax obligations across many different states, one of the first things to hit you will be the dizzying number of deadlines you must follow when filing sales tax returns. Generally, the higher the volume of tax you’ll be reporting, the more often you have to file and remit.

tax return 246

tax return Sales Tax tax services 246

Cherry Bekaert

MARCH 14, 2024

market, business owners must learn about the federal, state and local tax systems they will encounter. Sales tax in the U.S. is quite different from a value-added tax (VAT) or a goods and services tax (GST) assessed by many other countries. Listen to learn more about: 03:54 – GST tax vs. U.S.

tax services 97

tax services Tax income tax tax return 97

TaxConnex

NOVEMBER 23, 2021

But what happens when a world still rocked by the pandemic continues to make the majority of its sales online? eCommerce has become a growing and important aspect of retail sales. In fact - Cross-border eCommerce sales worldwide grew more than 20% in 2020 while U.S. But how does this impact your sales tax obligations?

Sales 246

Sales Tax tax return Retail 246

inDinero Tax Tips

OCTOBER 22, 2024

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. You can also elect to be taxed as an S-corp or C-corp. See here for a list of applicable tax rates.

Nevada 105

Nevada Tax income tax payroll tax 105

Withum

OCTOBER 9, 2023

On October 4, 2023, Massachusetts enacted tax legislation (H.4104), The legislation adopts a single sales factor apportionment formula for all corporations and also makes changes for how financial institutions source its income from investment activities and trading activities.

Massachusetts 72

Massachusetts Sales Tax tax return 72

Withum

NOVEMBER 14, 2022

The IRS’s decision to grant late-filing relief in this context is not that surprising or ground-breaking, but it does highlight an important tax strategy that we are starting to see with increasing frequency. Section 1202 generally provides for the full or partial exclusion of capital gain realized on the sale of QSBS. QSBS Generally.

tax return 113

tax return Entertainment Sales Tax 113

CPA Practice

FEBRUARY 2, 2024

When something is viewed as a commodity, price is usually the deciding factor in who gets the sale. When price is deciding the factor in who gets the sale, two things happen: 1: You, as the accounting firm, won’t be able to substantially raise your prices because there’s always someone else that will be glad to take the low-priced work.

accountant 119

accountant accounted Account tax return 119

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. Whether it’s advising on residential energy tax credits or restructuring a partnership, your knowledge and expertise beyond the tax return are valuable.

Tax 98

Tax tax return income tax audit 98

Cherry Bekaert

AUGUST 31, 2023

As digital business advancements help technology companies grow and expand, state tax authorities continuously develop new rules and regulations to keep up with the market. Contact Us The post Reduce Your Technology Company’s Sales Tax Risk appeared first on Cherry Bekaert.

Technology 52

Technology Sales Tax tax return 52

Going Concern

OCTOBER 31, 2024

TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #22591376 Certifications: CPA Education: BBA Accounting Experience (years): 5+ years accounting experience Work experience (detail): All in public accounting Tax planning and client advisory Experience reviewing tax returns Client relationship management experience Client niches: SMBs, (..)

Real Estate 59

Real Estate accountant accounted Account 59

Withum

AUGUST 10, 2023

On August 3, 2023, Treasury and the IRS issued proposed regulations and a press release identifying monetized installment sale transactions and substantially similar transactions as Listed Transactions. It has previously included monetized installment sales on its annual Dirty Dozen list of common tax scams and schemes.

Sales 52

Sales tax return Tax tax services 52

xendoo

JANUARY 12, 2022

These businesses can also file for a tax extension, and this extension must also be received by April 18. Once your extension is approved, your new tax deadline becomes October 17, 2022. It’s important to remember that your tax return must be at least postmarked by the due date. This date, of course, assumes you’re ready.

business tax 98

business tax Tax tax return tax preparation 98

MyIRSRelief

MAY 15, 2024

Nonprofit Tax Service by Mike Habib, EA Nonprofit organizations play a crucial role in society, offering valuable services and advocacy. However, managing tax compliance can be a significant challenge due to the complex nature of tax laws and regulations. Overlooking local property and sales tax exemptions.

Tax 130

Tax payroll tax payroll tax preparation 130

Withum

JUNE 8, 2022

The Notice identifies an additional 101 taxable substances that are subject to the excise tax and requires reporting on Form 6627 , relating to Environmental Taxes, which is attached to Form 720 , the quarterly Federal excise tax return. Business Tax Services. See Exhibit B for a list of these substances.

Tax 121

Tax Manufacturing tax return tax services 121

Withum

JUNE 1, 2022

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. Company A would recognize taxable income of $17,050, increasing their taxable income by 24%, even though the same number of sales took place. Potentially.

business tax 119

business tax Tax income tax tax return 119

CPA Practice

SEPTEMBER 12, 2024

In his new role, Burke will be instrumental in identifying and engaging potential clients, nurturing relationships—particularly in the financial services industry—and driving the sales process to successful closure. Additionally, he will provide consultative services to clients within the financial services sector as needed.

Kansas 104

Kansas Pennsylvania audit accounting and finance 104

Cherry Bekaert

NOVEMBER 14, 2023

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year. Not all sales and not all taxpayers can qualify to use the installment sale method.

Real Estate 109

Real Estate tax planning Construction Tax 109

Withum

MARCH 7, 2022

Since the state doesn’t otherwise levy an income tax, the ultimate decision will impact individuals as well as many business owners who have sought tax residency in the state, which is often used to implement state tax strategies in planning for the sale of a business. State and Local Tax Services.

Washington 75

Washington Tax income tax tax return 75

Withum

DECEMBER 4, 2024

Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2024 that are phased out over varying levels of adjusted gross income (AGI). While individuals might be motivated to sell stock during 2024 to capture the capital loss and purchase the same stock at a lower cost, the wash-sale rule could apply.

tax planning 52

tax planning Tax income tax tax return 52

ThomsonReuters

JANUARY 28, 2022

Stay top-of-mind with tax and accounting clients all year. Companies that only offer tax services have to start over each year building a brand through marketing and advertising. That includes: Preparing federal and state income taxes. Filing quarterly employment taxes. Insurance sales.

Tax 102

Tax tax preparation bookkeeping bookkeeping services 102

xendoo

JANUARY 31, 2022

The IRS Schedule C is used by sole proprietors and single-owner LLCs to report your small business taxes and is part of your personal tax return. We understand that business taxes can seem confusing, if not overwhelming. Under section I, you’ll report your sales and the cost of goods sold.

tax preparation 122

tax preparation business tax income tax Tax 122

Cherry Bekaert

MAY 3, 2024

tax purposes (the classification may be different for foreign tax purposes) Expanding primarily into treaty countries or non-treaty countries, or both Keeping its cash offshore (e.g., income tax return. corporations that are expanding into high-tax countries. tax return. tax liability.

Tax 104

Tax income tax Non-Profits corporation tax 104

Going Concern

JUNE 21, 2024

Here she is in an ad interview with Microsoft’s WorkLab : Q: You’ve been driving AI transformation at EY, and you have been watching it reshape the broader world of tax services. The ability to process vast amounts of data more quickly and more accurately is a game changer for tax return compliance and reconciliation.

Tax 64

Tax Technology tax return Gaming 64

Withum

JANUARY 8, 2024

A change in a federal income tax accounting method generally requires the Commissioner’s consent by filing a Form 3115 and must be filed in the year the taxpayer wants the change to be reflected. However, automatic changes in accounting methods can be filed on Form 3115 and are not due until the extended due date of the tax return.

tax return 78

tax return audit Tax income tax 78

Withum

FEBRUARY 16, 2023

Not exactly the best example of a “flat tax” system, right? But before we worry about the 2023 tax changes, let’s look at some of the major changes impacting your 2022 Massachusetts income tax return. More information can be found in TIR 23.1.

Massachusetts 75

Massachusetts income tax Tax tax return 75

Ryan Lazanis

OCTOBER 24, 2022

When you combine basic bookkeeping services provided with CFO guidance, financial reports, tech implementation, year-end tax returns preparation, tax return preparation fees, and strategic advisory you have a wide range of value being provided which can alter your approach. Fixed vs. Value Pricing. Fixed Pricing.

bookkeeping services 98

bookkeeping services accountant accounted Account 98

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. . Get prepared for tax season with these small business tax deductions that may apply to your business. .

business tax 98

business tax Tax tax preparation tax return 98

MyIRSRelief

APRIL 15, 2021

Lately, there has been a lot of talk surrounding R&D tax credits, and how they can potentially benefit large and small companies alike, regardless of which industry you happen to be involved in. You must report this credit on a federal tax return form filled in in plenty of time, using Form 6765. Technological uncertainty.

Tax 100

Tax payroll tax tax return Start-ups 100

Withum

NOVEMBER 17, 2022

Doing so may enable you to claim larger deductions, credits, and other tax breaks for 2022 that are phased out over varying levels of adjusted gross income (AGI). Postponing income also is desirable for taxpayers who anticipate being in a lower tax bracket next year due to changed financial circumstances. Energy credits.

tax planning 98

tax planning Tax Construction income tax 98

Anders CPA

SEPTEMBER 28, 2022

Even if a state doesn’t require sales tax on SaaS, the company may still need to file if they pass a certain threshold of sales. SaaS really encompasses three types of services: SaaS; Infrastructure as a Service (IAAS) and Platform as a Service (PAAS). Anders State and Local Tax services.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

xendoo

JANUARY 16, 2023

How Much Do Small Businesses Pay in Taxes by State? How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The IRS taxes corporations as separate legal entities, which opens them up to double taxation. S corporations will file Form 1120-S.

business tax 52

business tax Tax income tax payroll tax 52

ThomsonReuters

FEBRUARY 8, 2022

Adding services in the areas beyond filing tax returns, such as accounting, payroll, bookkeeping, business planning, payroll and audit solutions, will always be services clients need. Respondents also indicated interest in receiving other services from their accounting firms. Your prospects want to be wooed.

Tax 105

Tax Entertainment payroll Technology 105

CPA Practice

FEBRUARY 27, 2024

These processes often include accounting and CFO services, financial planning, transaction services, corporate tax compliance and, increasingly, state and local tax compliance, including sales and use tax reporting. One of its core growth services is sales tax management.

Technology 52

Technology Tax Sales tax return 52

xendoo

DECEMBER 11, 2022

Corporation Income Tax Return, is an IRS form that certain businesses use to file taxes. It helps businesses report their yearly profits and losses to determine their tax liability. Businesses can also use Form 1120 to report the gains or losses from the sale of assets and any taxes due from foreign income.

Tax 52

Tax income tax tax return bookkeeping 52

CPA Practice

FEBRUARY 5, 2024

When something is viewed as a commodity, price is usually the deciding factor in who gets the sale. When price is deciding the factor in who gets the sale, two things happen: 1: You, as the accounting firm, won’t be able to substantially raise your prices because there’s always someone else that will be glad to take the low-priced work.

accountant 52

accountant accounted Account tax return 52

inDinero Accounting

DECEMBER 5, 2023

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).

tax return 52

tax return Mississippi Wisconsin Alabama 52

Withum

FEBRUARY 1, 2023

In addition, a covered corporation may treat stock contributions to an employer-sponsored retirement plan as having been contributed in the prior taxable year if contributed by the filing deadline for the IRS Form 720, Quarterly Federal Excise Tax Return, that is due for the first full quarter after the close of the taxpayer’s taxable year.

Tax 75

Tax tax return CPA Legal 75