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Do You Prepare Sales and Use Tax Returns?

Our office does not provide sales tax preparation services.  Sales tax regulations and reporting requirements continue to change rapidly.  As your business grows, it is important that you are in close communication with your tax preparer about your company’s “Nexus” or presence in a state.  Nexus describes the amount and degree of business activity that must be present before a state can tax an entity's income. If a taxpayer has nexus in a particular state, the taxpayer must pay and collect/remit taxes in that state.

We recommend that you retain the CPA firm that provides your income tax preparation and other related services to prepare your sales tax filings and provide this important ongoing advisory service for you.  Failure to comply with Sales and Use Tax regulations can easily result in significant penalties and other issues.  Your tax preparer will be in the best position to either provide you with advisory services in this area directly, or direct you to the appropriate specialist within the firm.  The investment in a professional with specific expertise in sales and use tax is critical to ensuring your company is always in compliance with the latest regulations. 

Can you recommend a Software Application for Sales Tax Reporting?

We are pleased to offer our clients the option of using the sales tax reporting, filing and compliance services offered by Avalara, Inc.  Avalara’s software applications are available to most (though not all) businesses with ongoing sales tax reporting requirements.  The application also integrates easily with QuickBooks to create an automated compliance, filing, and payment process.  For more information please contact our office and/or visit Avalara’s website http://www.avalara.com/. 

Many more questions and answers will be posted in the coming weeks!