Avalara’s new Managed Tax Category Classification is built to generate classification decisions and aid in state and local taxability determinations for businesses’ U.S. product catalogs. When businesses introduce a new product or service, it must be classified into the correct tax category. With more than 13,000 sales and use tax
Imagine I asked you to buy a digital copy of a painting I created and then burned. Perhaps you would be interested in my singing abilities and would buy a sound clip that I would record and put up for sale for a few hundred dollars. If you purchased any
As businesses ramp back up, they need to hire in a tight labor market. Luckily, the Work Opportunity Tax Credit (WOTC) may help for select workers. The WOTC has expired and been reinstated by Congress numerous times in the past. However, the tax law passed late last year—the Consolidated Appropriations
Just joining us? We invite you to go back to part one. It focused on the tax rules for profits from sales of personal residences. Part two discussed President Biden’s proposal for long-term capital gains. He hopes Congress will replace the present top rate of 20 percent for profits from
What could you accomplish if you had an additional 1 percent of revenue in your firm’s IT budget? The answers will be unique to each firm, but I can think of a few places many should consider. Pay Off Technical Debt Technical debt happens when firms choose to save money
OnPoint Audit from CPA.com and CaseWare was built to provide an efficient workflow that reduces manual data entry and redundancies and permits transparent collaboration between colleagues and their clients. Hosted on CaseWare Cloud, OnPoint Audit is the newest solution added to the OnPoint suite of audit and assurance products, offering firms
Many clients working 9-5 jobs dream of owning their own businesses. As their accountant, you realize their idealized view is not the reality. Regardless, many people take that big step and start their own businesses. Some start small and grow to big operations. Other clients buy into a franchise. Some
The traditional way of doing IT and SOC 2 audits is going away, and it’s happening really fast, but that doesn’t mean CPA firms can’t adapt and enhance their practices, deliverables and value. Below are some tips on what’s happening and how CPAs can indeed embrace it. What’s Going on Out
The AICPA’s Professional Ethics Executive Committee (PEEC) and Auditing Standards Board (ASB) have two different goals in their proposals on noncompliance with laws and regulations (NOCLAR), and the implications will affect all CPAs, particularly those who are in public practice and provide attest services. PEEC Proposal Having worked on its
The articles that I’ve previously done for AccountingWEB all focus on various aspects of federal income taxes. This one doesn’t; it focuses on New York City income taxes. Why did I decide to replace federal levies with local levies? Because the New York Times for July 2, 2021, displayed this
