TT&T Approach - The Money Is In The Invoices
We work as a team to deliver honest, timely, cost-effective solutions to our clients. We take the time to understand client operations, client challenges, state tax law, how it applies, and how to secure the best results. Our motto is the "money is in the invoices." In our experience, client documentation is key. We respect our clients budgetary concerns and mount challenges squarely based in knowing and communicating:
- Client operations
- Documentation of client transactions
- State tax statutes, rules, and case law.**
We respect the taxpayer and the state taxing authority enough to base our contentions in substantive arguments that have merit. There are several options for taxpayers to consider:
Taxpayer Option # 1 - Address the audit internally
Some companies designate personnel to interface with state taxing authorities. They then determine if they wish to pay any deficiency assessed or retain outside help. When determining whether to challenge an audit finding, engage in a cost-benefit analysis that takes into account costs in terms of time, money, and future cost of operations. When choosing this option, prompt action is required if a consultant is engaged at the end of the audit. The appeals process is deadline-driven.
Taxpayer Option # 2 - Hire a consultant
Other companies delegate all or part of the work associated with undergoing an audit. It depends on the preference of the person(s) in charge. Companies that run lean and require all personnel to stay abreast of daily activity often choose this option. People who have no desire to deal with the state taxing authority for any number of reasons may choose to outsource this function. Dealing with a state audit entails understanding the taxpayer business and being able to communicate the state tax rules as applied to client business operations to the auditor or state attorney in a manner to ensure appropriate action.
We encourage all taxpayers to employ the approach that works best for them.
**-- We do not guarantee results. Each situation is evaluated carefully before recommendations are made.