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Profit Statements: The P&R Blog

Does your business have to begin collecting sales tax on all out-of-state online sales?

You’ve probably heard about the recent U.S. Supreme Court decision allowing state and local governments to impose sales taxes on more out-of-state online sales. The ruling in South Dakota v. Wayfair, Inc. is welcome news for brick-and-mortar retailers, who felt previous rulings gave an unfair advantage to their online competitors. And state and local governments …read more.

Nonprofit board members might want to revisit the Donor Bill of Rights

We get so busy we sometimes get off track.  Getting back to basics once in a while helps us to refocus. The Donor Bill of Rights was designed about 25 years ago as a blueprint of best practices for not-for-profits. Some critics have since asserted that the rights are out of date or not comprehensive …read more.

SMART isn’t just for phones!

Strategic planning is key to ensuring every company’s long-term viability, and goal setting is an indispensable step toward fulfilling those plans. Unfortunately, businesses often don’t accomplish their overall strategic plans because they’re unable to fully reach the various goals necessary to get there. If this scenario sounds all too familiar, trace your goals back to …read more.

2 tax law changes that may affect your business’s 401(k) plan

When you think about recent tax law changes and your business, you’re probably thinking about the new 20% pass-through deduction for qualified business income or the enhancements to depreciation-related breaks. Or you may be contemplating the reduction or elimination of certain business expense deductions. But there are also a couple of recent tax law changes …read more.

What businesses need to know about the tax treatment of bitcoin and other virtual currencies

What is cryptocurrency, and will it affect you? Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic or crypto currency. While most smaller businesses aren’t yet accepting bitcoin or other virtual currency payments from their customers, …read more.

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Frequently Asked Questions

Q.

Is it worth the cost of a CPA to get your tax return prepared?

A.

While many options exist for preparing your tax returns, the complexity of the tax law continually increases—and in recent years the pace seems to have increased. If you experienced anything...

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