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Honored to Employ a Top 100 QuickBooks ProAdvisor

Squire is pleased to announce that Megan Bronson, manager in the technology and business department at Squire, has been named a 2019 Top 100 QuickBooks ProAdvisor by Insightful Accountant, an independent news and information source written specifically for the small business advisor who needs to stay current on the latest news and offerings in accounting technology, including updates from Intuit, Xero, Sage and the hundreds of add-on products serving small businesses

This list recognizes the leading consultants who have embraced the ProAdvisor program and have leveraged it in order to better serve their clients and grow their own business.

“We’d like to congratulate everyone who made this year’s list,” said Insightful Accountant Senior Technical Editor, William “Murph” Murphy. “We had even more new people join the ranks this year than we were expecting.”

Megan joined the Squire team in 2006 as she finished her Masters of Accountancy degree from Brigham Young University. She has more than 13 years of experience working with businesses across several industries, specializing in QuickBooks consulting and Outsourced Accounting Services for Manufacturing and Distribution clients. Megan is a writer and presenter for Intuit’s Trainer Writer Network and is recognized nation-wide for her early adoption and expertise in QuickBooks Online. It is no surprise her talents and knowledge landed her in Insightful Accountant’s Top 100.

 

If your company is in need of a QuickBooks expert, be sure to reach out to Squire for assistance.  

 

Three Things You Need to Know About the Wayfair Ruling

 

The overturn of 1992’s Quill  ruling has sparked many questions as to how companies that have a multi-state presence move forward with the taxing of their out-of-state sales.

This new Wayfair ruling affects businesses throughout various industries, even beyond online retail sellers. Below are common questions and answers that will help you understand this new ruling, its potential impact to your company, and how you can move forward from here.

 

What is the Wayfair Ruling?

Since the 1992 Quill v. North Dakota ruling, businesses that did not have a physical presence in a state were exempt from collecting sales tax even from those buying from out-of-state. In the recent Supreme Court case of South Dakota v. Wayfair et al., the Court ruled in favor of South Dakota, declaring that physical presence is no longer needed in order for a seller to be required to collect and remit sales tax from their out-of-state buyers regardless of the state in which they reside. In other words, states are allowed to collect sales tax from companies that do not have a physical presence in that state such as a brick-and-mortar location, warehouse, or corporate office if they meet a state’s economic threshold for overall revenue or number of transactions that came from that state.

 

Does this Apply to My Company if I am Not an Online Retailer?

It is correct that Wayfair is solely an online retailer. However, all businesses providing services and products to other states are affected by this ruling. There are a multitude of ways that companies can sell outside of their home-based state aside from online. This ruling can be applied to business deals done over the phone, through a catalog or email, and even via common carrier.

Regardless of how your company is processing transactions, if it is selling to an out-of-state buyer, your company is required to collect sales tax.

 

How does My Company Properly Comply with the Wayfair Ruling Moving Forward?

Review your previous operations regarding sales tax collection, and how you will operate in the future now that sales tax may need to be collected from each of your customers regardless of your physical presence in that state. Determine a plan of action and arm yourself with resources to assist you in your new tax responsibilities. Your company will need to gather data to determine in which states you are currently selling services or products and how you will need to comply moving forward. Depending on your analysis, you may need to hire a third party to guide you through the new changes and ensure your company is within compliance.  

 

As your company navigates its way through the new tax requirements and processes, contact Squire for assistance in evaluating your individual situation and let them help determine how their professionals can serve you. 

 

Squire Lands Placement on Inside Public Accounting’s Top 200 List for Largest Public Accounting Firms in the Nation

Top 200 Firms 2019

The publishers of INSIDE Public Accounting (IPA), the award-winning newsletter for the public accounting profession, announce the release of IPA’s annual financial performance analysis and ranking of the nation’s 400 largest public accounting firms.

IPA’s annual ranking of the 400 largest firms in the U.S. are listed from the multi-billion-dollar Big 4 to firms of roughly $5.5 million in net revenue. The list includes firm headquarters, MP, net revenue, ranking in the previous year and percentage change.

“Our team works hard on a daily basis. Accolades at this level are a direct reflection of our work ethic, dedication to our clients, and passion for what we do,” said Jonyce Bullock, CEO of Squire. “I’m appreciative of our talented team, and have no doubt we will continue to rapidly work our way into the Top 100.”

Placing themselves in the top 200, Squire climbed 22 spots this year to No. 168 up from No. 190 in 2018. Its net revenue came in at $23.8 million. The annual rankings and accompanying analysis paint a comprehensive picture of the state of the profession. 

“Watching our firm grow year over year makes it beyond rewarding to be part of the Squire team,” said Shane Edwards, Office Managing Partner of Squire. “Rising more than 20 spots within one year is definitely an accomplishment of which we’re extremely proud.”