Your ZIP code might be creating audit risk. Here’s why..
Did you know that the way your tax rate tables are set up in your ERP system can make or break your business? Do you know how their set up for your business? That’s because most rate tables are based on ZIP codes. And ZIP codes can be completely inaccurate. Like using a tricycle to …
Your ZIP code might be creating audit risk. Here’s why.. Read More »
Tax Exempt Sales – Read These “Rules of the Road”
Think that just because you’re not a retailer you don’t owe sales tax? Think again. More and more traditionally non-taxable transactions are being taxed all over the US. If you’re not up to date, you could have been charging wrong rates (or not charging at all) all this time. Or worse, you could have been …
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The Important Business Function Your ERP System CAN'T Do
Many companies choose to invest in an Enterprise Resource Planning (ERP) system to unify business processes. An ERP system affords greater visibility and control over your business processes and ensures better compliance across operations. The centralization and automation of core functions means an easier way to monitor all aspects of business and lays a strong …
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Implementing an ERP System - 4 Tax Issues to Consider
Choosing the right ERP system that’s going to get the job done for your business is a tall order. Successfully implementing that system so it properly adds value to your business requires a great deal of forethought and consideration of the impact the system will have on all departments. But it’s not just the impact …
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Choosing an ERP System: Tax Compliance Considerations
Choosing the right ERP that’s going to get the job done for your business is a tall order. Successfully implementing that system so it properly adds value to your business requires a great deal of forethought and consideration of the impact the system will have on all departments. But it’s not just the impact the …
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How 3 Companies Manage Tax Exempt Sales
Someone walks into your business claiming to be sales tax-exempt: How do you handle it? If your business provides products and services through distribution, manufacturing, wholesale, or retail, the risk of a sales tax audit is high. Many businesses in this industry are audited solely because they work with exemption certificates. The sheer nature of …
Would Your Team Win Gold in the Audit Olympics?
As the company’s tax manager, it’s your job to ensure your business is financially fit. You probably never thought to compare a sales tax audit to the Olympic Games. Surprisingly, the two events have a lot in common. If you’ve ever been through an audit, you know it’s a grueling test of will, strength, and …
Sales Tax and The Supply Chain – Q&A
The supply chain is one of the trickiest areas to navigate in the world of sales tax compliance, often involving sales tax, use tax, exemption certificates, and headaches. Creating a tax-efficient procurement process is the best way to protect your business in this often high-risk audit environment. But where do you start? We sat down …
Drop Shipping and the Manufacturer, Wholesaler, Retailer – A Sales Tax Nightmare
Most would agree that the administration of drop shipments is currently one of the most challenging sales tax scenarios to deal with. Not only does drop shipping affect the manufacturer, but it can also have an adverse effect on wholesalers, distributors, retailers, and even end users. To fully understand the taxation of a drop shipment, …
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Marketplace Fairness Act: What You Need to Know
No doubt you’ve heard about the Marketplace Fairness Act, but do you know what it means and how it could affect your business? Here’s a quick read to learn more about the Marketplace Fairness Act and what it could mean to you. What is the Marketplace Fairness Act? The Marketplace Fairness Act is a current …
