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