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...
Read MoreUnclaimed and Reverse Unclaimed Property: Why Every Business Should Know Who They Owe and Who Owes Them
August 05, 2021.
Tax Publications
Unclaimed Property Unclaimed Property (also known as abandoned or escheat property) is exactly that – money or tangible assets that belong to an individual or business but are viewed as “abandoned” because there’s been no activity or contact by the holder for one year...
Read MoreBundled 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,...
Read MoreThree 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...
Read MoreRuling 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...
Read MoreWhen 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...
Read MoreTaxable 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...
Read MoreMassachusetts 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...
Read MoreLouisiana 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...
Read MoreKansas 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. ...
Read MoreMissouri 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...
Read MoreMaryland 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...
Read More