Archive for February 2019
IRS Enhances Security, Puts Hurdles in Place to Tax Transcript Access
In an effort to bolster protections to taxpayer data, the Internal Revenue Service (IRS) recently made two changes to its tax transcript system: redacting personal identifiable information from the transcripts and limiting access to the transcripts themselves. While these changes will enhance information security, they will hinder the ability of tax professionals to receive on-the-spot…
Read MoreNew Survey Report Highlights the State of Georgia’s Manufacturing Industry: Results Point to Shortcomings and Opportunities in Three Critical Areas
2018 Georgia Manufacturing Survey conducted by Aprio, Georgia Tech’s Georgia Manufacturing Extension Partnership and Kennesaw State University shows Georgia manufacturers are lagging on workforce development, strategic innovation and digitization. ATLANTA (PRWEB) FEBRUARY 13, 2019 Aprio, LLP, a nationally-recognized CPA-led business advisory firm, Georgia Tech’s Georgia Manufacturing Extension Partnership and Kennesaw State University released a report…
Read MoreState and Local Tax Services
State & Local Tax (SALT) Newsletter January 2019
https://www.aprio.com/media/newsletters/SALTnews-1-19.html
Read MoreTax Reform: Why the Right Business Structure Is Vital for Tech Startups
The business entity you choose when starting a new company is more important than ever before in the wake of the new tax reform law. Getting it wrong can mean higher taxes and could make it harder to raise capital because certain investors can’t or won’t invest in some business entities. Getting it right can…
Read MoreBest Practices for Managing Grant Requirements
At a glance Main takeaway: Requests for transparency and accountability continue to grow with increased donor demands around the use of contributions. Impact on your business: The right chart of accounts lets you see financial activity, budgets, grant reimbursements, endowment allocation details, supporting documents and change history. Next steps: Accounting can be complex. Contact Aprio’s Nonprofit Team to explore…
Read MoreYoung Adults, Boomers and Families Drive Rise of Class B Apartments
Cash-strapped Millennials, retiring Baby Boomers and middle-income families are driving demand in less expensive Class B multifamily apartments. Class B multifamily apartments tend to be older buildings with fewer amenities and less expensive finishes than their Class A counterparts that command much higher rents. The rise of Class B apartments is also a response to…
Read MoreIllinois Provides Guidance on Computer Software Licensing Agreement Signature Requirement
Illinois’ state tax exemption for software licenses requires, among other things, that there be a signed written agreement between the vendor and the customer, which can be a difficult requirement to satisfy for downloadable software transactions. By Tina M. Chunn, SALT Senior Manager Determining the taxability of computer software continues to be one of the areas…
Read MoreIowa Supreme Court Ruled That Lowe’s Installation Services May Be Taxable
Failure to properly analyze how a service may be classified for sales tax purposes can lead to unexpected liability as Lowe’s found out in this Iowa Supreme Court opinion. As more and more states expand their sales tax bases to tax services, it is inevitable that sales tax compliance will become more complex. The main…
Read MoreLocal Louisiana Jurisdiction Rules That Walmart.com is Required to Collect Sales Tax on Third-Party Sales
In this Louisiana court decision, one local parish argued successfully that Walmart.com was responsible for collecting and remitting local sales tax on sales made by third-party retailers on its website, potentially exposing marketplace facilitators to a myriad of complex local sale tax compliance obligations. By Jess Johannesen, SALT Manager In Aprio’s October 2018 SALT Newsletter, we…
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