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Sales Tax Exemptions- Tax Exempt Customers

Sales Tax Exemptions- Tax Exempt Customers

by Stephanie Thomas | Feb 16, 2023 | Audits, General Business, Stephanie's Wisdom

Every jurisdiction has sales and use tax exemptions available to certain taxpayers. Common examples of tax exempt customers. include governmental agencies, educational, religious, and charitable organizations. When making sales to exempt organizations, it is important...
Sales & Use Tax Audits- Accounts of Interest

Sales & Use Tax Audits- Accounts of Interest

by Stephanie Thomas | Jan 4, 2023 | Audits, Stephanie's Wisdom, Uncategorized

When going through at sales and use tax audit, the auditor will not only review source documents, but they will also review your accounting records, (i.e., the GL).  Auditors are not interested in every account in the general ledger. They focus on certain accounts of...
Addressing Sales and Use Tax Credits

Addressing Sales and Use Tax Credits

by Stephanie Thomas | Nov 23, 2022 | Audits, Sales Tax Returns, Stephanie's Wisdom

Today, we are going to discuss what you can do when you discover that you have overpaid sales or use tax on the purchase that you make for your business.  Whether you accrued use tax incorrectly, a vendor charged sales tax on an item that is tax-exempt, or the tax...
Sales and Use Tax Compliance- Scanning Documents

Sales and Use Tax Compliance- Scanning Documents

by Stephanie Thomas | Oct 8, 2022 | Audits, General Business, Stephanie's Wisdom

This tip is about sales tax compliance and document retention. Specifically, making sure you have a plan in place when it comes to scanning your documents. Here are some things to remember when scanning documents and keeping electronic copies of invoices. Key...
Sales Tax and Bad Debt Write-Offs

Sales Tax and Bad Debt Write-Offs

by Stephanie Thomas | Aug 14, 2022 | Audits, General Business, Sales Tax Returns, Stephanie's Wisdom

In our discussion, we are focusing on bad debts, which are outstanding balances owed that are no longer deemed recoverable and must be written off. While bad debts affect your sales bottom line, it can also affect the sales and use tax that you report to the taxing...
Sales and Use Tax Audits- Don’t Forget the Credit Cards

Sales and Use Tax Audits- Don’t Forget the Credit Cards

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...
The Marriage of Sales Tax Compliance & Clear, Concise Invoices

The Marriage of Sales Tax Compliance & Clear, Concise Invoices

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...
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    Texas Taxes for Audits
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    Texas Taxes for Landscaping, Pest Control & Other Real Property Services
  • Texas Taxes for the Construction Industry- New Construction
    Texas Taxes for the Construction Industry- New Construction

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