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One Reason Your Business is not Operating as Effectively as It Should

August 10, 2021.
Tax Publications

What are Workplace Procedures? An organizations’ procedures are the standardized methods of which to tackle regularly recurring tasks which require accuracy and attention to detail. Across all industries, employers and employees alike do not have systems in place to track and maintain the proper office procedural organization to the...

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Unclaimed Property:  Why Every Business Should Know Who They Owe and Who Owes Them

August 05, 2021.
Tax Publications

Unclaimed Property (also known as abandoned or escheat property) is exactly that – money or tangible assets that belong to you, but are viewed as “abandoned” because there’s been no activity or contact with you (by the holder) for one year or more.  There are...

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Bundled Transactions: 5 Steps to Determining Taxability

August 03, 2021.
Tax Publications

What Is a Bundled Transaction? A bundled transaction is the retail sale of two or more products in which (1) the products are distinct and identifiable and (2) the products are sold for one non-itemized price. The reason this matters to businesses is that, if a bundled transaction includes a taxable product,...

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Three Tax Aids Available to Montana Wildfire Victims

July 29, 2021.
Tax Publications

Our hearts go out to all those in Montana who have been impacted by the recent wildfires. The state of Montana offers tax relief for citizens that have been impacted in the form of extensions and reductions. The below links direct you to the Montana Department of Revenue website and...

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Ruling Affirmed: Tax Exemption for Ohio Property Rented on Airbnb Properly Denied

July 27, 2021.
Tax Publications

The Ohio Board of Tax Appeals has ruled that the Tax Commissioner appropriately denied a real property tax exemption on a portion of a property that the owner rents out on Airbnb. The facts of this appeal are quite interesting when looked at collectively. The property in question is a...

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When Can Your Business Start Summer Cleaning?

June 24, 2021.
Tax Publications

Overview Most professionals get to engage in “Spring Cleaning”, however, those going through tax season are not afforded that luxury, they must wait for Summer! Keeping adequate records is of the utmost importance for a business, but how long should a business retain different types of records related...

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Taxable Values: Don’t Be Afraid to Appeal

June 15, 2021.
Tax Publications

Taxable Values Overview Every year companies must file business personal property returns to the various local taxing authorities where they hold assets. These returns determine the taxable values that those authorities use to calculate your annual business property tax. Most jurisdictions, upon receipt of the return, calculate an assessment or...

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Massachusetts Takes a New Approach to Sales Tax Deadlines

June 02, 2021.
Tax Publications

Beginning on May 1st, the due date for sales and use tax returns for the state of Massachusetts changed from the 20th to the 30th day of the month.  For example, a return for the period beginning on April 1, 2021, will now be due on May 30th, instead of May 2...

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Louisiana Aims to End the Madness Surrounding their Sales Tax System with House Bill 199

May 31, 2021.
Tax Publications

Louisiana is one of the few states with what is known in the sales tax industry as home rule jurisdictions.  In addition to a state sales tax that is levied and administered by the state, cities, counties and other local jurisdictions can levy and administer their own sales tax...

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Kansas Passes Economic and Marketplace Nexus Provisions Despite Veto Efforts

May 27, 2021.
Tax Publications

Governor Laura Kelly of Kansas vetoed a tax bill that contained regulations for remote sellers and marketplace facilitators, including setting a threshold for out-of-state sellers in order to establish economic nexus. The Kansas House and Senate overrode this veto in early May and passed the bill, becoming effective on July 1, 2021. ...

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Missouri Poised to End Their Sales Tax’s Status as a Relic of a Bygone Era

May 26, 2021.
Tax Publications

Despite the hardships businesses have endured due to COVID-19, online retailers have performed evidently stronger than brick and mortar stores in recent years due to easier client accessibility and lower overhead costs. Missouri officials have taken note of this discrepancy and settled on a bipartisan vote to join the rest...

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Maryland Updates Tax Rules on Digital Products

May 24, 2021.
Tax Publications

Effective March 14, 2021, Maryland’s Comptroller expanded the sales and use tax to digital products and digital code. Previously these items were not taxable because they were not in a tangible medium. Now regardless of whether they are downloaded or streamed, many products will be required to have tax applied...

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