NSAC Happenings and Latest News - Page 13
Navigating the Complexities of Use Tax
The transaction tax landscape is rife with tricky and complex regulations, and when use tax comes into the equation, it gets even more confusing. But understanding how and when the use tax applies is critical to staying compliant. Imagine that a railroad company purchases tracks and wooden ties from a manufacturer in Oregon. They spread that track out over a half-dozen states, linking their rail cars all the way to Texas. Where do they pay the ...
Read More7 Tips for Using Zoom Better
BASIC TIPS Use headphones to avoid audio collisions Unfortunately, you can't monitor your own audio levels and quality in a virtual meeting. You are dependent on others to tell you when your audio isn't working well. This can cause what I call "audio collisions," when multiple people talk over each other because they are unable to hear others when they are talking. The best way to limit audio issues is to use headphones! Find comfortable ...
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Celebrating Exemplary Women Leadership
In recognition of International Women’s Day, the NSAC is celebrating women who have provided exemplary leadership by serving on the Society’s National Board of Directors. These outstanding women are true inspirations in their field, and have accomplished so much through their work ethic and commitment to the accounting industry.
Read MoreDemystifying Sales Tax Nexus
Sales tax nexus is a confusing topic for many business owners. That’s not surprising because different states have different rules for what establishes nexus in their jurisdictions. Your clients will likely look to you for guidance in understanding this important topic. This Q&A article will cover information to help entrepreneurs determine their sales tax obligations in the jurisdictions where they sell taxable products and services.
Read MoreIRS Issues Procedures for Employee Status Determinations
The IRS issued procedural guidance regarding determinations by the Service that a worker is properly classified as an employee of an employer rather than an independent contractor. The distinction carries significant employment law and tax ramifications. The latter include that a person for whom services are performed must withhold from employees' wages and remit employment taxes (generally, Social Security or Railroad Retirement, Medicare, and ...
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