When a state decides to audit a business, they send a letter to alert the owners of the impending investigation. Though audits can seem random, in...
The LumaTax Blog
Tips and tax talk for CPA firms.
Voluntary Disclosure Agreements, called VDAs for short, are fantastic tools accountants can use to help clients navigate state and local tax (SALT)...
Public Law 86-272 is a federal law that prohibits states and localities from imposing income taxes on out-of-state businesses if their only activity...
In a best-case scenario, the cost of Sales and Use Tax (SUT) non-compliance may add up to a few hundred dollars in fines. In a worst-case scenario?...
Many businesses are still not compliant with sales and use tax (SUT) nexus obligations created by the 2018 South Dakota v. Wayfair decision. What...
One of the great things about running an accounting practice is you have nearly endless ways to expand and evolve your service offering. This is...
At the end of each quarter, our team analyzes what’s new and what’s next with SALT legislation. Below, we’ll talk about trending topics making...
Hundreds of blog posts focus on sales tax nexus and economic nexus. Unfortunately, most of them are either overly complicated or way too vague.The...
The way states tax software as a service, more commonly referred to as SaaS, is an ever-moving target. Here’s what accountants need to know to...
At its simplest, sales tax nexus is the connection between a taxing jurisdiction, such as a state, and an entity, such as a business. Nexus is...
Thanks to the South Dakota v. Wayfair supreme court ruling, businesses that previously had no requirement to register and collect sales tax must now...
The 2018 South Dakota v. Wayfair ruling allowed states to require businesses to collect and remit sales tax even if they have no physical presence in...
Building up a state and local tax practice can help firms better serve their clients.
There’s never been a better time to offer sales and use tax services at your firm. With the ever-shifting landscape of sales tax, your clients are...
Voluntary disclosure agreements can benefit your clients if you know when and how to use them.
Sales tax rules have recently changed and are likely affecting your clients—here’s what you need to know to better serve them.
Looking to offer your clients more in-depth advisory services when it comes to sales and use tax? These are some key tips to get started. The...
The 2018 South Dakota v. Wayfair ruling established that online sellers with “legal nexus” must collect and remit sales tax in South Dakota–depending...
Accounting firms can level up their line of service by offering virtual sales and use tax advisory.
In 2018, the Supreme Court overturned the physical nexus stipulation, a holdover from the 1992 Quill case ruling, calling it “unfit and unsound” for...
Never in our lifetimes have we witnessed a global, government-enforced shutdown of economic activity. Just the thought of such an action is, frankly,...
Going into the Supreme Court’s hearing of the South Dakota v. Wayfair case, which was argued back in April, one thing was certain: something had to...
Building a remote team has its challenges, but if implemented correctly, remote work can be convenient and cost-effective.
Any effective advice relating to Wayfair must be both sensible and thorough. As the trusted advisor, you need a methodology for ensuring that you...
Business owners are required to manage an overwhelming amount of regulatory compliance. Categories include everything from permitting to human...
Many ecommerce business owners, interstate sellers, and Amazon resellers are feeling frustrated by a recent court ruling that changed sales tax...
Every small business wants to avoid being audited, but it can be hard to find a rhyme or reason to why some businesses are audited and others aren't....