ThomsonReuters

FEBRUARY 2, 2023

QUESTION: Our company has a qualified transportation fringe benefit plan under Code § 132(f) that allows participants to pay for parking, transit passes, and vanpooling on a tax-free basis. Qualified transportation fringe benefit plans may only offer qualified parking, transit pass, or vanpooling. ANSWER: No.

Transportation 97

Transportation Tax Account accountant 97

ThomsonReuters

NOVEMBER 11, 2021

Qualified Transportation Fringe Benefits. The post IRS Releases 2022 Cost-of-Living Adjustments for Health FSAs, Transportation Benefits, Adoption Assistance, and More appeared first on Tax & Accounting Blog Posts by Thomson Reuters. News Release. Contributing Editors: EBIA Staff.

Transportation 98

Transportation Tax income tax accounted 98

ThomsonReuters

OCTOBER 20, 2022

Qualified Transportation Fringe Benefits. The post IRS Releases 2023 Cost-of-Living Adjustments for Health FSAs, Transportation Benefits, Adoption Assistance, and More appeared first on Tax & Accounting Blog Posts by Thomson Reuters. News Release. Contributing Editors: EBIA Staff.

Transportation 97

Transportation Tax income tax accounted 97

RogerRossmeisl

DECEMBER 27, 2021

Potential problems Suppose your company employs an overseas trucking company to transport goods from a port to a customer’s warehouse. Whether deliberate or unintentional, a third party’s actions can cost you money and harm your company’s reputation — particularly if they violate laws and regulations. Here’s how to contain possible threats.

Transportation 246

Transportation CPA 246

RogerRossmeisl

JULY 30, 2021

Transportation and meals The actual costs of travel. That’s because unreimbursed employee business expenses are “miscellaneous itemized deductions” that aren’t deductible through 2025. However, self-employed individuals can continue to deduct business expenses, including away-from-home travel expenses. The post Traveling for Business Again?

tax return 246

tax return Transportation CPA Tax 246

RogerRossmeisl

NOVEMBER 8, 2023

Certain industries — for example, construction, real estate, manufacturing and transportation — are usually more vulnerable to employee theft, according to the Association of Certified Fraud Examiners (ACFE). Occupational fraud risk isn’t necessarily shared evenly by all business sectors.

Real Estate 241

Real Estate Construction payroll Transportation 241

Anders CPA

SEPTEMBER 16, 2024

The transportation industry has endured a lot in these past few years, but a wise colleague of mine once said, “Prepare to endure, endure. Schedule a Virtual CFO Consultation The post Annual Planning for Transportation and Logistics Businesses: Prepare to Thrive in 2025 appeared first on Anders CPA. Prepare to thrive, thrive.”

Transportation 64

Transportation Tax accounting and finance tax planning 64

Anders CPA

APRIL 1, 2024

Every industry goes through down cycles, transportation and logistics included: After the pandemic freight boom, we’ve seen gas prices rise, drivers quit, and operators go out of business. Check Hiring and Retention Numbers Drivers are the bread and butter of a transportation business. Do you know your retention rates?

Transportation 64

Transportation Start-ups CPA accounted 64

RogerRossmeisl

OCTOBER 17, 2020

This is Blog Post #907) Tony Seba is the author of “Clean Disruption of Energy and Transportation – How Silicon Valley Will Make Oil, Nuclear, Natural Gas, Coal, Electric Utilities and Conventional Cars Obsolete by 2030” and “Rethinking Transportation 2020-2030” He.

Technology 147

Technology Transportation CPA Finance 147

Anders CPA

JULY 15, 2024

How does a buyer judge your transportation business? If you need any help preparing your business for sale, our virtual CFO services for transportation and logistics businesses may help. A forthcoming seller earns a lot of trust: They show their cards so the buyer doesn’t wonder what else they are hiding.

Transportation 59

Transportation Sales CPA 59

Anders CPA

JUNE 10, 2024

In a capital-intensive industry like transportation and logistics, a strong relationship with your financial institution can improve your bottom line by generating thousands of dollars of profit or enabling you to negotiate a better interest rate or a higher line of credit. The cleaner the financials, the better the interest rate.

Transportation 59

Transportation accounting principles accounting and finance financial statements 59

SMBAccountant

JANUARY 5, 2024

Integration streamlines data transport and can ensure accurate reconciliations between software systems. Find dashboards and tutorials that are user-friendly. Integration Ask if the software works well with your business's e-commerce, CRM, and payroll systems.

accounting software 246

accounting software Account accounted accountant 246

Anders CPA

AUGUST 19, 2024

The two big groups of expenses are purchased transportation and operating expenses, and each can be subdivided into several more categories. How much is typically spent on purchased transportation? Transportation moves fast. If you have a line of credit or a loan, you’ll also want to account for the cost of money.

Transportation 52

Transportation bookkeeping financial statements Education 52

CPA Practice

FEBRUARY 12, 2025

Data and insights from the tool, together with the consulting capacity of the team at Forvis Mazars, will provide an Unmatched Client Experience for carriers seeking to improve their bottom line.

Management Consulting 88

Management Consulting Transportation accountant accounted 88

RogerRossmeisl

OCTOBER 30, 2023

Taxpayers in the transportation industry can use a special transportation industry rate.) Taxpayers can use these rates to substantiate the amount of expenses for lodging, meals and incidentals when traveling away from home.

Transportation 147

Transportation CPA business tax Tax 147

TaxConnex

MARCH 6, 2025

Taxable prepared food in Michigan includes food sold in a heated state or that is heated by the seller; has two or more food ingredients mixed or combined by the seller for sale as a single item; or is sold with eating utensils provided by the seller (not including a container or packaging used to transport the food). But heated when?

Sales 130

Sales Tax South Dakota Mississippi 130

Menzies

OCTOBER 31, 2024

The recent Budget has painted a mixed picture for the Transport and Logistics sector. Our Transport & Logistics Team have summarised the key changes that will impact the T&L Sector. Freeze in Fuel Duty The Budget has delivered a mixed picture for the Transport and Logistics sector.

Transportation 45

Transportation chartered accountant Maine Tax 45

TaxConnex

SEPTEMBER 13, 2022

Part of a widespread package of fees designed to funnel part of the money to roads and transportation, SB21-260 ran into a lawsuit soon after passing and has reportedly forced many local merchants to just absorb the cost and caused confusion and scrambling among online retailers shipping into the state.

Colorado 246

Colorado Tax Sales tax return 246

CPA Practice

SEPTEMBER 23, 2024

20, provides the special transportation industry rate, the rate for the incidental expenses-only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method for the period of Oct. Notice 2024-68 , which the IRS published on Sept. 1, 2024, to Sept. up from $69 and $74, respectively, for 2023-24.

Transportation 135

Transportation Tax 135

TaxConnex

FEBRUARY 18, 2021

Company owned d elivery vehicles are utilized for transporting your product. ( You utilize local contractors to perform services on your behalf such as installation or repair services for customers in a state. T his does not include standard mail delivery services such as UPS, FedEx, USPS , etc. ).

South Dakota 227

South Dakota Sales Transportation Tax 227

TaxConnex

JANUARY 11, 2022

In Florida, the purchaser must also have the option of picking the item up or arranging for third-party transportation services on its own. In Maine, shipment must also be directly to the purchaser and the shipment has to be by common or contract carrier or the U.S.

Sales 246

Sales Rhode Island South Dakota North Dakota 246

CPA Practice

MARCH 26, 2025

The RUC isdesigned to providefair, long-term, sustainable funding for Hawaiis roads, according to the Department of Transportation. Revenue generated by Hawaiis gas taxes is declining because more Hawaiians are driving electric and hybrid vehicles.

Hawaii 106

Hawaii Tax Transportation 106

TaxConnex

JULY 30, 2024

Additional complexities: Some shipping terms such as Free on Board, which defines when in a shipped transaction a buyer or seller becomes liable for the goods transported, can complicate situs determination. In some cases, situs for sales tax purposes is actually the loading dock of the sender. Benefit of use can also determine situs.

South Dakota 264

South Dakota Alaska New Hampshire Montana 264

CPA Practice

JULY 10, 2024

For purposes of the Clean Fuel Production Credit, transportation fuel is divided into two broad categories of fuel: sustainable aviation fuel (SAF) and non-SAF transportation fuel.

Transportation 107

Transportation income tax Tax 107

Xero

JUNE 17, 2024

This guest blog was written by the team behind transport management app MyTrucking. Through strategic growth and a focus on technology, innovation and efficiency, TGR Transport has expanded to become a primary contractor to major grain traders in Australia. One such family-owned business has been on the tools since 2009.

Transportation 97

Transportation Agriculture Technology Construction 97

RogerRossmeisl

APRIL 30, 2024

They may also incur expenses for: transportation to get to and from client meetings, professional publications, continuing education and home office. This is especially likely to occur in service partnerships such as an architecture or law firm. What’s the tax treatment of such expenses? Here are the answers.

Entertainment 130

Entertainment Transportation Education CPA 130

CPA Practice

JULY 31, 2024

As the motor vehicle fuel tax is no longer a sustainable or reliable source of revenue, state and local governments need an alternative source of funds for roadways and transportation infrastructure. Nothing has been decided, but the Joint Transportation Committee used a retail delivery fee of 30 cents for the report.

Washington 111

Washington Retail Minnesota Colorado 111

CPA Practice

APRIL 24, 2024

Department of Transportation has issued a final rule that requires airlines to promptly provide passengers with automatic cash refunds when owed. Transportation Secretary Pete Buttigieg. Passengers deserve to get their money back when an airline owes them – without headaches or haggling,” said U.S.

Transportation 118

Transportation Entertainment Government Tax 118

CPA Practice

AUGUST 13, 2024

State budget writers said Friday the 4% surtax on incomes over $1 million managed to generate hundreds of millions more for transportation and education projects than expected during its first full year on the books. By Chris Van Buskirk Boston Herald (TNS) Massachusetts’ voter-approved “millionaires tax” delivered roughly $2.2

Massachusetts 111

Massachusetts Tax Transportation Education 111

CPA Practice

JULY 6, 2023

Leisure and hospitality, trade and transportation, and education and health services showed strong gains. Manufacturing 5.9% – Service-providing: Trade/transportation/utilities 6.3% Still, the market was fragmented, with manufacturing, information, and finance showing declines.

Hospitality 119

Hospitality Transportation Manufacturing Construction 119

CPA Practice

SEPTEMBER 11, 2023

Generally, you can’t deduct these transportation costs. To qualify for transportation deductions, you must be traveling away from your tax home to a business location. To qualify for transportation deductions, you must be traveling away from your tax home to a business location.

Tax 119

Tax Transportation income tax business tax 119

CPA Practice

SEPTEMBER 26, 2023

Notice 2023-68 , which the IRS published on Monday, provides the special transportation industry rate, the rate for the incidental expenses-only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method for the period of Oct. 1, 2023, to Sept.

Transportation 116

Transportation Tax 116

PYMNTS

JANUARY 7, 2021

These credentials will become ever-present as people wend their way through airport and public transportation settings, ports and check-in kiosks. In an interview with PYMNTS, Reinhard Hochrieser , vice president of product management at Jumio , said the widespread adoption of vaccine passports is an inexorable trend.

Transportation 144

Transportation Healthcare Government Technology 144

CPA Practice

MAY 4, 2023

The woman was transported to a local hospital where she is reported to be in life-threatening condition. After reports of gunshots, county sheriff’s deputies responded to a residence in the Wedgwood subdivision of Eagle in the pre-dawn hours on Thursday. Rissell founded TSheets in 2006 with partner Brandon Zehm.

Idaho 26

Idaho Hospitality Transportation 26

TaxConnex

NOVEMBER 11, 2021

Tennessee has posted a sales tax letter ruling that an online cloud-based platform’s charges to commercial freight transportation brokers and carriers were not subject to sales tax. Ohio has eliminated its sales and use tax on employment services and employment placement services effective on Oct.

Sales 49

Sales E-commerce Tax Illinois 49

CPA Practice

DECEMBER 18, 2024

household spends more than $70,000 on housing, meals, transportation, health care and more. The average U.S. How does your household compare?

Transportation 97

Transportation 97

Going Concern

JULY 14, 2022

This is because we’re often at client sites on the outskirts of the city and we can’t travel in and out late in the day – public transport doesn’t run 24/7. Even in really busy periods, we don’t work more than 70 hours a week. We’re never really expected to be online after 11pm.

auditor 118

auditor Transportation audit 118