by Stephanie Thomas | Oct 15, 2024 | General Business, Stephanie's Wisdom
3 Most Confusing Things About Sales Tax Why sales and use tax compliance isn’t as simple as it seems. When it comes to running a business, sales tax compliance often causes more stress than it should. Business owners and accountants alike know that it’s full of tricky...
by Stephanie Thomas | Aug 13, 2024 | Audits, General Business
Sales Tax Audits: The Real Reason Why Businesses Are Audited Navigating the world of sales tax audits can feel like trying to solve a complex puzzle. Why was your business chosen? What triggered the taxing authority’s interest? Let’s decode the mystery behind sales...
by Stephanie Thomas | May 11, 2024 | General Business, Sales Tax Returns, Stephanie's Wisdom
Avoid These 5 Sales Tax Software Mistakes Choosing the right sales tax software is a crucial decision for any business, yet it’s easy to fall into some common pitfalls. Here are five mistakes to steer clear of, presented with relatable metaphors to make them stick! 1....
by Stephanie Thomas | Dec 20, 2023 | Audits, Mary's Wisdom, Stephanie's Wisdom
Safeguard Your Business: 3 Must-Know Pre-Sales Tax Audit Steps Preparing for a sales tax audit before it happens can save you a lot of stress and ensure smoother interactions with auditors. Here are three crucial steps to take before receiving a notification of...
by Stephanie Thomas | Feb 16, 2023 | Audits, General Business, Stephanie's Wisdom
Sales Tax Exemptions – Tax-Exempt Customers Hi everyone, Welcome to this week’s tax tip! Today, we’re talking about a key topic that often causes confusion for businesses of all sizes — sales tax exemptions, specifically as they relate to tax-exempt customers. We...
by Stephanie Thomas | Jan 4, 2023 | Audits, Stephanie's Wisdom
Sales & Use Tax Audits – Accounts of Interest Hi everyone, Welcome to your weekly tax tip! Today, we’re diving into one of my favorite topics: sales and use tax audits. While audits can seem intimidating, understanding what auditors look for can help you stay one step...
by Stephanie Thomas | Nov 23, 2022 | Audits, Sales Tax Returns, Stephanie's Wisdom
Addressing Sales and Use Tax Credits Hi everyone, Welcome to this week’s tax tip! Today, we’re talking about a scenario that happens more often than many business owners realize—what to do if you overpay sales or use tax. Whether it’s due to a vendor mistake, a...
by Stephanie Thomas | Oct 8, 2022 | Audits, General Business, Stephanie's Wisdom
Sales & Use Tax Compliance – Scanning Documents Hi everyone, Today’s tax tip focuses on something we mention often but can’t emphasize enough: document retention—specifically, creating a plan around scanning and storing your documents digitally. In the world of sales...
by Stephanie Thomas | Aug 14, 2022 | Audits, General Business, Sales Tax Returns, Stephanie's Wisdom
Sales Tax and Bad Debt Write-Offs Hi everyone, Welcome back to another weekly tax tip! Today, we’re diving into an often-overlooked area of sales tax compliance—bad debt write-offs. If your business sells goods or services on credit, understanding how bad debts affect...
by Stephanie Thomas | Mar 23, 2022 | Audits, General Business, Stephanie's Wisdom
When you first receive notification that your business is going to audited for sales and use tax compliance, there are a number of areas of concern they may occur to you. One thing that business owners routinely overlook is company credit cards and how they can...
by Stephanie Thomas | Mar 21, 2022 | Audits, General Business, Stephanie's Wisdom
Sales tax compliance is a complex thing. Knowing whether you must register in a jurisdiction (i.e., do you have nexus), whether what you sell is taxable, what tax rate you should charge, the applicable sales tax exemptions, etc. can be a lot to digest when you are...
