The United States Supreme Court delivered its ruling on the much talked about “South Dakota vs. Wayfair” case that will change how interstate sales are taxed. As a result of this ruling, states can now enforce retailers to collect sales taxes regardless of if they have a physical presence in the state. This ruling applies [...]
Randomly picking which debt to pay off first is not the ideal strategy—especially considering the magnitude of the average American’s debt, as well as rising interest rates. In 2017, the average American household had more than $130,000 of debt, made up of home mortgages, credit card debt, student loans, and auto loans. It’s no wonder [...]
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 [...]