Hot Topics Article Archives - Page 6
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 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 ...
Read MoreTips for Recruiting and Retention in a 'Great Resignation' World
A year ago, accounting firms were able to weather the unprecedented storm of 2020, often making large-scale adjustments on the fly, to keep the profession running successfully. However, a new challenge awaited on the other side: The Great Resignation. Firm leaders and industry consultants share their strategies on how to keep talent after professionals reassessed their careers in 2021. Deep connections Our firm leaders communicate and build ...
Read MoreIt May Be Time to Reconsider That Noncompete Agreement
Federal regulators are cracking down on hiring practices that restrict employees’ wages and ability to work for competitors. Here’s what companies should know. These days, with the Great Resignation peeling off workers right and left, companies may be tempted to get creative in how they retain employees. But some popular strategies can land firms in legal hot water. Regulators are increasingly taking aim at agreements that restrain ...
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