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 | 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 | General Business, Mary's Wisdom, Nexus
A few years ago, the Wayfair case was everywhere. It changed the landscape regarding sales tax nexus and registration requirements for remote sellers all across the country. Let’s talk about what the case may mean for you and your business. For some people, it...
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 Sales Tax Sisters | Mar 18, 2022 | Audits, Mary's Wisdom, Stephanie's Wisdom
Once you involved in a sales tax audit, you must understand that the taxing authority has broad powers as it relates to what documents they can request. If a state tax auditor requests data, you should produce it. If you don’t, there are consequences that are...
by Sales Tax Sisters | Mar 18, 2022 | Audits, Mary's Wisdom, Sales Tax Returns, Stephanie's Wisdom
Congratulations! You have survived your sales tax audit. While you can breathe a sigh of relief, don’t think that the tax authority is through with you because the audit is over. In order to avoid the same issues that were discovered during the audit, you must...
by Sales Tax Sisters | Mar 18, 2022 | General Business, Mary's Wisdom, Stephanie's Wisdom
Some people wonder why they would need a sales tax consultant if they already have a CPA or a bookkeeper. Here is the reason why. Sales and use tax is a specialized niche area. We like to compare it to being a specialist versus being a GP. While your book keeper or...
by Sales Tax Sisters | Mar 18, 2022 | Audits, Mary's Wisdom, Sales Tax Returns, Stephanie's Wisdom
We all know that the word “audit” strikes fear into the heart of every business owner, especially if you are a newbie. Here we discuss about five things you can do to make your sales tax audit go smoother. Key Takeaways: Invoices should be clear and...
by Sales Tax Sisters | Mar 17, 2022 | Audits, General Business, Mary's Wisdom, Stephanie's Wisdom
Sales tax audits are stressful for everyone. If you hear a scream coming from the mailbox, it could be that someone just received.a “Notification of Routine Audit” letter.There are ways to prepare yourself before you receive an audit notice. Key Takeaways:...
