by Stephanie | Feb 13, 2025 | Audits, General Business
Why Ignoring Sales Tax Could DESTROY Your Business! Hey there, fabulous friends! 🌸This week’s tip is all about why sales tax shouldn’t be ignored. If you’re a business owner, understanding sales and use tax is crucial for your success! Let’s dive into the...
by Stephanie | Jan 14, 2025 | Audits
3 Common Sales Tax Audit Red Flags Hi everyone, This week’s tax tip is all about recognizing potential red flags that can trigger a sales tax audit. If you or your client finds themselves engaging in any of these practices, it doesn’t automatically mean an audit is on...
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 Sales Tax Sisters | Jun 27, 2024 | Audits, Stephanie's Wisdom
Shipping, Handling, Freight, and Sales Tax Compliance When it comes to sales tax compliance, the treatment of shipping, handling, and freight charges is a nuanced topic. These charges are often subject to different rules depending on the state and the nature of the...
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
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...
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). Â Auditors are not interested in every account in the general ledger. They focus on certain accounts of...
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...
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...
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...
by Stephanie | May 17, 2022 | Audits, General Business, Mary's Wisdom, Uncategorized
Over the course of my career I have regretted becoming engaged by select clients. The interesting thing is a voice in head always told me to “run!” After a few hard lessons, I listen now. Ignoring that voice has cost me aggravation, time and money.  I thought it...
by Stephanie | Apr 5, 2022 | Audits, General Business, Mary's Wisdom
One of the most heartbreaking things I see too often is the ineffective accounting software upgrade. How can an increase in functionality be ineffective? There’s one huge way…when you have someone who refuses to use the new technology. We have all seen companies...
by Stephanie | Apr 5, 2022 | Audits, Mary's Wisdom
Nothing can kill a sugar or caffeine buzz quicker than a sales tax audit notice, right? Not so fast! The worst thing you can do is panic or allow a sales and use tax audit notice to color your day.  You’ve got this!!…You do! Take a deep breath and DO...
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...
