Apr 202 minAudits3 Must-Know Pre-Sales Tax Audit StepsThis tax tip is about 3 things you should do before you or your client receives a Notification of Routine Sales and Use Tax audit letter.
May 31, 20231 minAuditsSelling Fixed Assets & Occasional Sales- 5 Things to Consider!Hi everyone! In the video, we discuss selling fixed assets and possible sales and use tax consequences associated with those sales. Key...
Feb 16, 20231 minAudits“Did Somebody Say Jail?”- Sales and Use Tax Penalties & CollectionsEveryone knows that there will be penalties if sales and use tax is not correctly addressed. A colleague asked if we ever heard of anyone...
Oct 20, 20221 minAuditsRecovering Sales Tax From CustomersWe are going to discuss charging your customer sales tax after the sales transaction has been completed. There are multiple options...
Aug 31, 20221 minAuditsInterim Reviews Can Keep You Sales Tax Compliant!As your business changes or expands, or you make large purchases, interim reviews can help ensure that you are tax compliant. We talk...
Jul 14, 20221 minAuditsThe Dangers of Combining Sales & Non-Sales Related DepositsWe discuss intermingling your non-sales related deposits in your business bank account. While there are not rules against combining your...
Mar 7, 20221 minAuditsSales & Use Tax Compliance- Do Your Reconciliations!In this video, we discuss the importance of reconciliations, including reconciling your sales tax accrual account. Key Takeaways: if...
Feb 3, 20221 minAuditsState and local tax refund request expectations for your businessWhen making a refund request, review the website of the taxing authority to ensure you have all documentation that fully supports the...
Nov 9, 20212 minSales Tax ReturnsTaxable Purchases Made Easy! 5 Rules to UseTaxable purchases are one of the most misunderstood topics as it relates to sales & use tax. While it is a line item on almost all sales...