Need Help?

Get in touch with us and we’ll be happy to help!

0
  • No products in the cart.
0
  • No products in the cart.
 

sales tax Tag

The insights gained in the teleconference demonstrate Avalara’s continuing commitment to being at the forefront of the, once static, world of Sales Tax. If you are just learning of Sales Tax Nexus, or Wayfair Inc. vs South Dakota, here is a list of previous articles; and a recent webinar we did with Avalara, which you can review at your leisure:

Avalara & Sales Tax Nexus 2019 [UPDATE]

A recent teleconference with Avalara reminded attendees the Sales Tax world is still an elusive target, since the Wayfair Inc. Supreme Court Decision. As businesses try to keep up with its effects, more states are enacting new legislation coinciding with new allowances to collect sales tax from sellers who conduct business in their state – without a physical presence therein. As of this writing, there is a host of states still deliberating over enacting specific legislation affecting marketplaces.

new york sales tax vendor definition update

New York Sales Tax Vendor Definition Update Effective IMMEDIATELY!

From our friends at Avalara: The New York State Department of Taxation and Finance announced that due to the South Dakota v. Wayfair Supreme Court ruling last year, an existing provision in New York Sales Tax Law defining a sales tax vendor became immediately effective. Any business within this definition making taxable sales into the state is required to be registered as a New York State vendor and to collect & remit sales tax. This can impact your clients and they should know.

blank

Sales Tax Compliance Resources

Avalara presented a great Technology Tuesday on Sales Tax Compliance and the changes happening in recent months due to the Wayfair vs. South Dakota case. Below are some great resources related to this hot topic! Everything You Want to Know About Sales Tax Compliance - presented 10/30/2018 Wayfair vs. South Dakota Supreme...

Here's a list of the kinds of tax records and receipts to keep that relate to your current year income and deductions: Income (wages, interest/dividends, etc.) Exemptions (cost of support) Medical expenses Taxes Interest Charitable contributions Child care Business expenses Professional and union dues Uniforms and job supplies Education, if it is deductible for income taxes Automobile, if you use your automobile for deductible activities, such as business or charity Travel, if you travel for business and are able to deduct the costs on your tax return

Tax Records: Frequently Asked Questions | OUT OF THE BOX TECHNOLOGY

What pieces of paper do I need to keep in order to do my taxes? Keep detailed records of your income, expenses, and other information you report on your tax return. A good set of records can help you save money when you do your taxes and will be your trusty ally in case you are audited.

There are several types of records that you should keep. Most experts believe it’s wise to keep most types of records for at least seven years, and some you should keep indefinitely.

What Are Opportunity Zones? Opportunity Zones can deliver significant tax savings on medium- to long-term investments in economically disadvantaged communities. This new tax incentive pertains to both the capital gains invested initially through a qualified opportunity fund, as well as capital gains earned for the investor from businesses or projects in a zone.

7 Misconceptions About Your Business Tax Returns

One of the biggest hurdles you’ll face in running your own business is staying on top of your numerous obligations to federal, state, and local tax agencies. Tax codes seem to be in a constant state of flux, making the Internal Revenue Code barely understandable to most people.

The old legal saying that “ignorance of the law is no excuse” is perhaps most often applied in tax settings and it is safe to assume that a tax auditor presenting an assessment of additional taxes, penalties, and interest will not look kindly on an “I didn’t know I was required to do that” claim. On the flip side, it is surprising how many small businesses actually overpay their taxes, neglecting to take deductions they’re legally entitled to that can help them lower their tax bill.

blank

The Beginner’s Guide to Sales Tax in QuickBooks

A variety of businesses must collect sales tax as part of their business operations, remitting those funds to the appropriate government agency on a predetermined schedule. The process of correctly collecting, recording, and paying these sales tax liabilities can be somewhat daunting at first, but QuickBooks has some tools built in that can help this go more smoothly.

Still Have Questions? We’re Here to Help.

Talk with an Expert