Out of Sight, Out of Pocket: How Assets Become Unclaimed Property
June 04, 2025.
Tax Publications
Each year, millions of dollars in assets go unclaimed—not because of fraud or theft, but due to everyday oversights and administrative mishaps. From missed mail following a move to forgotten checks or uncashed refunds, there are many ways property can slip through the cracks. Whether caused by lack...
Read MoreUnlocking the Power of Annual Reports: Essential Knowledge for Business Success
May 06, 2025.
Tax Publications
As companies continue to grow, it’s not surprising that they will tend to register in a multitude of states. When a company begins conducting business activities in a new state, it must register with the state’s Secretary of State. Once the initial registration is complete, annual...
Read MoreLast Week in Allyn Tax News (April 11, 2025)
April 14, 2025.
Tax Publications
Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? For decades, New York City's Cabaret Law required nightclubs to pay a special tax if patrons danced. The law was finally repealed in 2017 after nearly a century! To learn more, ask an expert here:...
Read MorePersonal Property Tax Audits: Common Triggers and How to Avoid Them
April 02, 2025.
Tax Publications
Most businesses operate in states where personal property is taxed, requiring them to file a return to report assets and pay their tax bill. Occasionally, they may receive a notice of a personal property tax audit. Like any other tax audit, these can be time-consuming and frustrating. While audits are...
Read MoreSales Tax vs. Use Tax: Do You Know the Difference?
March 05, 2025.
Tax Publications
Sales tax and use tax are both taxes imposed on the purchase of goods and services, but they apply in different circumstances. Sales Tax Sales Tax is defined as a tax on the sale, transfer, or exchange of a taxable item or service. It is generally added to...
Read MoreIntroduction to Nexus and State Tax Obligations
February 05, 2025.
Tax Publications
Nexus, within the realm of taxation, refers to the sufficient connection or presence that a business must establish with a state to be subject to its tax laws and regulations. This connection forms the basis for a state to impose tax obligations on a company’s activities. Understanding nexus...
Read MorePrepare Like a Pro: Organizing and Retaining Documents for 1099 Filing
January 02, 2025.
Tax Publications
Proper organization and retention of essential documents are critical for maintaining compliance, ensuring accuracy, and streamlining administrative processes. Establishing a systematic approach to document management not only saves time but also reduces the risk of errors or penalties due to missing or misplaced records. In this guide, we outline best...
Read MoreIn Case You Missed It: Last Week in Allyn Tax News (Dec 20)
December 20, 2024.
Tax Publications
Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? Live wreaths and garlands may be considered tax-exempt agricultural products in some states, but artificial versions are almost always taxable. To learn more, ask an expert here: https://lnkd.in/eMTnUw3y 12 Days of...
Read More1099 Essentials: Key Concepts and Common Challenges
December 12, 2024.
Tax Publications
In the United States tax system, the 1099 form plays a vital role in ensuring accurate reporting of various types of payments made to non-employees, such as independent contractors, freelancers, and vendors. This form is named after Section 1099 of the U.S. tax code, which governs how these payments are reported...
Read MoreExpanding to a New Location: Leveraging the Benefits of Freeport Exemptions
December 11, 2024.
Tax Publications
In light of the recent presidential election, president-elect Donald Trump has made a statement regarding the future of tariffs. He has expressed interest in increasing tariff rates up to 60% on items from China, and 10-20% on goods from other countries. For more information on these changes, please refer to Post...
Read MoreIn Case You Missed It: Last Week in Allyn Tax News (Nov 22)
November 22, 2024.
Tax Publications
Allyn Tax Fun Facts Happy Monday! Are you ready for more Allyn Tax Fun Facts? Pumpkins used for cooking may be tax-free, while pumpkins meant for decoration are often taxable. For example, in Iowa, you’ll be taxed on a pumpkin with no intention of becoming pie! To learn...
Read MoreIn Case You Missed It: Last Week in Allyn Tax News (Nov 11, 2024)
November 15, 2024.
Tax Publications
Allyn Tax Fun Facts Happy National Veteran’s Day! Are you ready for more Allyn Tax Fun Facts? Some states offer tax-free shopping days around Veterans Day for veterans and active-duty military personnel. For example, Louisiana has a “Veterans Day Sales Tax Holiday” where eligible veterans enjoy...
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