Sofina Anne Qureshi

Are you operating a partnership and perform services in New York City (NYC)? Are you operating a partnership and have customers in NYC, but don't perform services in NYC? New York City's inconsistent approach for sourcing sales of partnerships for state income tax apportionment purposes can cause confusion and errors. Make sure your tax preparer is aware of the opportunity or risk. #newyorkcity #NYC #salessourcing #apportionment #incometax #tax #taxes #stateandlocaltax #SALT #multistatetax #statetax #middlemarket #privateequity #servicecompanies #services #lawfirms #accountingfirms #consultingfirms #technology #consulting #law #accounting #cfo #controller

2

Looking forward to connecting with friends old and new at ACG Boston Dealfest! If you're here, please say hello! Started off the day at the Women's Breakfast, where Kelly Harbour of @goulstonstorrs inspired us all to validate how we use our time and make an impact. She challenged us to define our current HBU (Highest & Best Use) in just 6 words. My 1st draft is "Leading teams, integrating seamlessly, driving growth". I am going to refine this over the week and try to prioritize my time focusing on my HBU. What is your HBU? Are you living by it?

27

2 Comments

EisnerAmper speaks with Rachel Hirsch, Managing Partner at Wellness Growth Ventures, about venture capital investing in women-led wellness brands. Discover why wellness is becoming a top priority and how this trend is creating exciting opportunities for investors. https://okt.to/hNKLcM #VCInvesting #WomenInWellness #AlternativeInvestments

5

💡 Navigate Challenges and Capitalize on Future Opportunities with a Cash Flow Forecast. 💡 In a recent byline published in the Hauppauge Industrial Association Long Island, Armanino's Chris Gagliardi, CPA provided insights into the many benefits of implementing a cash flow forecast and how best to get started. Key highlights include: 💭 Better-informed business decisions 📈 Increased credibility with creditors and investors 🔮 Detailed indicator of potential future issues Looking to get started on the implementation process? Let Armanino help! Master your cash today: https://lnkd.in/eCZwmJp9 #Forecasting #CashFlow #Outsourcing #Armanino

9

2 Comments

The Massachusetts Sales and Use Tax Amnesty Period is a special initiative introduced by the Massachusetts Department of Revenue (DOR) to encourage businesses to resolve overdue taxes. Running for a limited time only between November 1, 2024, through December 31, 2024, the program offers businesses an opportunity to settle outstanding tax liabilities while providing significant relief from penalties and interest. Key Benefits of the Amnesty Program: Waiver of Penalties: Normally, late tax payments accumulate significant penalties. Under the amnesty program, most of these penalties are waived, offering businesses the chance to settle their tax obligations at a much lower cost. Protection from Legal Action: Businesses that participate in the program will not face prosecution or further legal action for the taxes they disclose and pay during the amnesty period. Why Should Your Business Participate? For businesses with overdue sales or use taxes, participating in the amnesty program is a smart financial move. Here’s why: Avoid Hefty Penalties: Once the amnesty period ends, the state will resume its standard enforcement actions, which could include steep penalties and interest on unpaid taxes. By settling during the amnesty period, you can significantly reduce these penalties and avoid future collection efforts. Enhance Your Financial Health: Unresolved tax debts can burden your business’ finances. Clearing these liabilities will improve cash flow, enabling you to focus on growth rather than dealing with back taxes. Ensure Future Compliance: Participating in the program also helps you reset your tax compliance. This reduces the risk of future audits or legal complications and sets your business on a clear path for maintaining tax obligations. Who Qualifies for the Amnesty Program? To qualify for the Massachusetts Sales and Use Tax Amnesty Program, businesses must: Be an eligible taxpayer; Submit an amnesty request via MassTaxConnect beginning November 1, 2024; Pay all taxes and interest included in the amnesty request; File any required returns by December 30, 2024. For more information please read our full blog here: https://lnkd.in/gVNSHTs7 Thompson Tax is here to help. Contact us today for expert advice on managing your sales and use tax obligations and let us help you navigate the amnesty process smoothly.

1

As Featured in Long Island Business News, Russell B. Shinsky, CPA, CGMA, Managing Partner of Anchin, and other distinguished industry professionals share words of wisdom for aspiring accounting professionals. "Much of what I know, I learned by observing the people that I worked for and with throughout my career," says Shinsky, highlighting the opportunities that the industry provides for professional development and collaboration. Learn more about how a career in the accounting industry can result in sustainable growth and success and why embracing technology, such as data analytics, can help accelerate your career. Click to read the full article: https://lnkd.in/erx9Tpaj

14

🌟 Must-Read Alert! 🚨 Don't miss the latest article by Marcum LLP Philadelphia VFLS Director, Heather L. Craden-Wilson, CPA, CFE, CFF, featured in The Legal Intelligencer! 📰 Heather dives deep into the intensified IRS oversight for high-income earners, exploring the looming risks of tax audits and criminal investigations. This is critical information that you won't want to overlook. 💼💰⚖️ Forensic accountants play a vital role in navigating these treacherous waters, offering indispensable advice to shield individuals and institutions from severe financial and legal fallout. Whether you're a high-income earner, a tax professional, or a legal expert, Heather's article is packed with valuable insights and actionable advice. 🔗 Read the full article here:

4

We at the New Jersey Society of CPAs often say that continuing professional education isn't just about collecting CPE credits. Education can help steer careers and make businesses more profitable. NJCPA member and Withum partner Edward Mendlowitz proves that point with his excellent summary of Ron Baker's session on strategy and positioning for profitability that he presented at the 2024 NJCPA Convention & Expo in Atlantic City. Ed and Ron raise awareness of the important process of determining strategy for your practice, and perhaps for yourself. #education #strategy #profitability Accounting Today

23

2 Comments

Listen to Ryanne Tannenbaum explain the new Massachusetts Tax Amnesty Program in our latest TWIST podcast!

4

Are you experiencing adverse effects of the current accounting talent shortage? Businesses are under pressure to find reliable financial expertise. Interim Accounting offers a tailored approach that helps organizations manage critical accounting functions, support transitions, and ensure continuity during times of growth or change. Read on for more. #InterimAccounting #FinancialStrategy #AccountingTips #BusinessGrowth #FinancialPlanning #TightFinancialMarkets #CFOInsights #FinancialManagement #BusinessStrategy #CorporateFinance #FinancialConsulting #AccountingSolutions #ProjectManagement #BusinessEfficiency

1

Massachusetts Business Associates, Inc. empowers businesses in Oxford and the surrounding area to thrive. We provide a comprehensive suite of services including tax preparation, bookkeeping, and IT consulting to streamline operations and ensure financial well-being. Whether you're a seasoned entrepreneur or just starting out, Massachusetts Business Associates, Inc. offers the guidance and support to navigate the complexities of business management. Click here for your quote today and the first step to growing your business - massbusinessassociates.com

3

Thanks to Automation Alley for sharing our mid-market technology trends report. Check out the full report to discover how #technology is changing the middle market and where leaders plan to invest.

1

The 2024 Vermont Legislature repealed the sales and use tax exemption for remotely accessed prewritten software with the enactment of H.887. The bill updated Sec. 3. 32 V.S.A. § 9701(7) to include new language regarding Software as a Service (Saas): “‘Tangible personal property” includes electricity, water, gas, steam, and prewritten computer software regardless of the method in which the prewritten computer software is paid for, delivered, or accessed, including remotely or hosted by a vendor or the vendor’s designee, or both. This changed the taxability of SaaS in Vermont from non-taxable to taxable with an effective date of July 1, 2024 #SaaS #SoftwareasaService #SalesTaxNews #TannerLLC #SalesTaxonSaaS

4

Get insights on tax provisions in the New York State 2025 budget, as well as general NYC tax updates, in this session from Forvis Mazars. See more information here: https://lnkd.in/eu_M5WSC

11

⛵ We're on a boat! We'd have FOMO too if we missed the chance to attend this year's 24th Annual U.S. Real Estate Opportunity & Private Fund Investing Forum in beautiful Rhode Island. From networking with industry leaders to uncovering new investment opportunities, we had an incredible time! A few takeaways from the event: 🔹Property values will continue to fluctuate for at least the next year before transaction volume will increase. The firms who have the best grasp on data, analytics and market trends will steal the deals. 🔹Despite high interest rates, there is still plenty of money to lend, so experienced owners who understand their market will get financing that works for their deal. 🔹Although not as much common equity in the market currently, plenty of preferred equity exists to get deals done in strong markets. #RealEstate #PrivateEquity #CommercialRealEstate #Networking

25