A new Tax Court case, Berry, T.C. Memo. 2021-42, 4/7/21, flagged a six-figure deduction claimed by construction business owners for their race car expenses. In some cases, a business will go outside the scope of usual promotional and advertising expenses—like signage, media or online marketing, printed materials and the like—to engage
For accountants with clients that sell or distribute alcohol beverages, Avalara Inc., a provider of cloud-based sales tax compliance automation, has released Avalara Shipping Verification for Beverage Alcohol (Avalara Shipping Verification). Avalara Shipping Verification is a new enhancement to Avalara for Beverage Alcohol, which provides a complete solution for direct-to-consumer (DTC)
Today’s digital marketing campaigns run on quality content. The challenge is maintaining both quality and quantity. You need to be posting valuable pieces on a regular basis, but who has the time to be constantly generating topical, informative, articles and blog posts that will draw your target audiences? Let’s face
In case you just joined us, here’s a recap of the previous three columns. Part one explained that Form 1040’s Schedule A allows itemizers to deduct state and local income taxes or to deduct state and local general sales taxes. They can’t write off both in the same year (line
There’s a romance associated with startups. There is a person with the big idea. They get started in their garage. Venture capitalists buy into their idea. The business takes off. It goes public. Everyone gets rich. Now comes reality. Many startups fail. Accountants can help shift the odds in favor
CPAs have to handle pressures from a variety of sources, those that come from banks and other lenders wanting reasonable assurance of a client’s financial strength are unfortunately quite common. As tempting as it may be to comply with such requests, CPAs who provide the requested assurances could actually put
Botkeeper, a machine learning-powered bookkeeping business solution for accounting firms, has a new pricing model intended to break down cost barriers, increase scale and provide greater access for firms of all sizes. Botkeeper’s packaging has been reworked into a scaling model that provides a more consumable approach to the Botkeeper
After the tax season we’ve all endured, as tax professionals you can take a few critical steps to ensure you and your firm are set up to thrive this year, and beyond. Here are three critical measures that you can take and even expand on post-busy season. 1. Stay in
Accountants and tax pros simply can’t help tackle sales tax compliance without first understanding nexus — a company’s economic “connection” to a state based on qualifying sales activities. Businesses in just about every industry must deal with sales tax in some way, but high-growth companies often struggle the most, and for
For those of you who’re just joining in, part one explained Form 1040’s Schedule A allows itemizers to deduct state and local income taxes or state and local general sales taxes. They can’t write off both in the same year (line 5a of 2020’s Schedule A for itemized deductions). Part