salt: the small business disaster waiting to happen

more highlights: “tax season from hell.” the pandemic pivot. small business outlook. digitally-powered recovery.

small business salt: 98% of accountants say small businesses are vulnerable to interstate sales tax issues, including 7% who say “none or almost none” are in compliance and 39% who say “most” are not and another 39% saying only “some” are.  (卡塔尔世界杯常规比赛时间 research)

 

by 卡塔尔世界杯常规比赛时间

three years after the notorious “wayfair” decision, accountants say a vast number of small businesses face new and burdensome interstate sales tax measures. but only a few accountants appear ready to help, according to new research by 卡塔尔世界杯常规比赛时间.

more: survey: rough seas ahead for small business

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most accountants believe that 98 percent of small businesses – virtually all – are failing to fully comply with all the interstate sales tax issues they may be liable for. and yet, about 71 percent of accountants are falling short of handling all their clients’ sales tax issues, with about 12 percent saying they address “most” issues, 36 percent handling “some,” and 24 percent handling none, according to the new study conducted in conjunction with avalara, the tax management software company.

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survey: rough seas ahead for small business

their best advice: innovate, adapt, go online. hang on.

small business advisors: top row – kenesha coleman, claudia hill rachel wehr. bottom row – joe eckeklkamp, catherine anderson, christopher awungjia, michael kridel

join the accountants confidence survey.
get the results.

by rick telberg
卡塔尔世界杯常规比赛时间 research

with lessons learned in painful lockdowns and grueling tax seasons, accountants are scrambling this summer to help their small-business clients cope with a harsher, more unforgiving business environment that demands new technologies, new work processes, and, most of all, new habits and attitudes.

more surveys & research: a crash course in the business of public accountingcpas see best outlook in three years, with notable exceptionstax pros race to the finish lineanother tax season from hell? |
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accountants are working with their small-business clients to:

  • keep up with changes in online technologies.
  • learn to be flexible, innovative, and super-scrappy.
  • pivot from brick-and-mortar to doing business online and virtual.
  • manage new customer and employee expectations, and
  • brace for revenue-hungry states seeking revenues from out-of-state online sales.

the terrain will be treacherous. in a 卡塔尔世界杯常规比赛时间 study conducted in conjunction with avalara, the tax management software vendor, accountants – by a margin of almost 2-to-1 – predict “much worse” business conditions for small businesses in the next 12 to 18 months. that’s the bleakest outlook in all five sectors surveyed, including the nation’s economy in general, their firms, their clients, and themselves personally.

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seven trillion reasons to pay attention

how closing the $7-trillion tax gap could impact the tax prep business.

by 卡塔尔世界杯常规比赛时间

president biden is proposing some big – and some would say long overdue – spending on infrastructure and programs to help lift americans out of the pandemic recession. he can’t raise taxes – that’s congress’s purview – but collecting taxes falls within the obligations of the executive branch.

more: wealthiest taxpayers cheat irs out of $400 billion a year | 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
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and the executive branch smells potential.
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cpas see best outlook in three years, with notable exceptions

some 76% of cpa corporate executives are now optimistic about the prospects for their own organization, less so about the u.s. economy in general.

cpa execs forecast economic boom.

by 卡塔尔世界杯常规比赛时间
via aicpa

the economy is poised to come roaring back in the year ahead, with forecasts for revenue and profit growth not seen since 2018, according to the second-quarter aicpa economic outlook survey of members in business and industry.

more surveys & research: women lag men in accounting jobs recovery  |  tax season ends with pros covering 54% of returns  |  tax pros retake market share from diyers  |  tax pros race to the finish line |  making partner: what managers need to know  |  survey: tax season swings into the red  |  who’s heating up accounting tech?  |  another tax season from hell?

exclusively for pro members. log in here or 2022世界杯足球排名 today.goprocpa.com

there are concerns, however. “availability of skilled personnel” reemerged as the top-cited challenge for businesses as job recruitment turns up. and two-thirds of business executives now express concern about inflation, up from 44 percent last quarter.

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seven state societies team for all-star real estate tax conference

koch

seven half-day virtual events help practitioners maximize deductions and increase cash flow for real estate and construction clients.

by 卡塔尔世界杯常规比赛时间
via bedford

karen koch, cpa, a legendary figure in real estate tax accounting, is headlining a seven-date, 4-cpe, virtual real estate conference series in association with the state cpa societies of connecticut, kentucky, virginia, texas, ohio, missouri, and minnesota.

she’ll be joined by renowned cpa tax specialists andy ackermann of mcm cpas and advisors, blake christian at hcvt, stephen lukinovich at mcm, josh malancuk of jm tax advocates. 卡塔尔世界杯常规比赛时间 editor-publisher rick telberg will also be participating.

“we’re honored to be working with so many of the nation’s leading state societies for our profession,” noted bedford partner karen koch, cpa/mbt. “we can’t wait to start sharing insights from some of the smartest professionals i know about the impact of tax incentives related to cost segregation, epact 179d certification, and r&d tax credits.”

the four-hour cpe events will provide a mix of pre-recorded presentations and live q&a from experts in the areas of cost segregation, energy credits, real estate elections, low-income housing credits, cost seg for opportunity zone investors, r&d credits in the construction industry, and real estate property tax reduction strategies.
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