Tax & Accounting Blog

Estimated Payments: Finally Addressing This Unvalued Activity

Estimated Payments: Finally Addressing This Unvalued Activity

Over the years, many corporations have seemingly not placed the right amount of emphasis on the estimated income tax process. This is mainly due to the lack of an appropriate solution. Instead of recognizing the value of how estimated payments can impact cash management, effectively integrate with the quarterly provision and tax planning, many view … Read More

Some Californians Spend Big Online Before New Sales Tax Begins

Some Californians Spend Big Online Before New Sales Tax Begins

Amazon.com and other Internet retailers will begin collecting sales and use tax on purchases by California residents beginning Saturday 8 September 2012. Seeing the tax increase coming, many tech-savvy consumers are trying to cram in some last-minute tax-free shopping.  Depending on where they live, Californians pay 7.25 to 9.75 percent in sales taxes, making these tax savings … Read More

IRS discontinues tiered audit issue rankings

IRS discontinues tiered audit issue rankings

Since 2006, the IRS has used Tiered Issue rankings to set priorities for tax examinations and enforcement in tax areas that it believed posed the highest challenges in compliance or the abuse of tax law.  Now, however, the tiered issue process is being replaced with what the IRS Large Business and International division is calling … Read More

Small Business Owners Appreciate the Second Amendment Sales Tax Holiday

Small Business Owners Appreciate the Second Amendment Sales Tax Holiday

Business was booming at several hunting supply and gun stores throughout Louisiana this weekend. This boom can be largely explained by a sales tax exemption on hunting goods, like shotguns, rifles, ammunition and hunting accessories just before hunting season. Local business owners and managers, like Tara Harris, store director of Academy Sports & Outdoors have given … Read More