While the word “audit” may sound scary in certain contexts, a reverse audit may help a company obtain a refund for overpaid state sales and use taxes. But when might a business consider such an engagement? Watch as Amy Hightower describes four instances in which it may be best to evaluate the potential [...]
Given the complexity of state and local tax (SALT) transactions, we’ve answered eight of the most frequently asked questions about the topic. Q: When acquiring a company, what should a CFO be concerned about from a SALT perspective? A: The first priority is conducting due diligence on potential SALT exposures. Due diligence is particularly important [...]
Business owners that expand their operations through e-commerce or remote employees may be required to file taxes for states that their companies serve. Watch as Kris Hoffman describes this scenario -- also known as "economic nexus" -- and how business owners should address it.
Businesses are accustomed to paying sales tax on company purchases and charging sales taxes to customers, but another component of sales tax may be hiding in plain sight. Use tax applies when sales tax isn't charged. Businesses should be self-assessing use tax to avoid state tax audits. Watch Kris Hoffman discuss sales and [...]
Savvy companies continually look for competitive advantages to grow the business to the next level. Sometimes that means creating operational efficiencies or offering a new product or service; other times it means expanding into new territories. With today’s technology and a vast array of national distribution networks available, taking business across state lines has never [...]
While a key-person life insurance policy can protect a company from the financial loss it may experience when a key employee dies, there is no insurance to protect against an employee who leaves the state for personal reasons. With the Internet, computer sharing and networking, cloud data storage, and virtual meetings, it may not be [...]