Latest Blog Post

3 Sales & Use Tax Resolutions Manufacturers Should Make in 2017

Save money and reduce your audit assessments by committing to these three sales and use tax resolutions in 2017. Following these steps does not cost much money, and the initial investment will pay off in tax savings for years to come.

RESOLUTION #1: Provide Sales and Use Tax Training to Employees

Sales tax training seminars are an affordable way to help identify and eliminate sales tax problems. More importantly, it teaches employees how to better manage sales tax processes and avoid future mistakes. Look for classes tailored for manufacturers. Don’t rule out sponsoring a training session exclusively for your employees instead of attending a generic sales tax seminar. Sales tax experts can conduct on-site seminars or webinars that address sales tax issues specific to your industry. Customized training also can be well worth the extra expense. Sales tax experts will review your company’s products and services then develop a seminar that teaches about the specific sales tax regulations for your state and manufacturing process.

RESOLUTION #2: Stay on top of Sales and Use Tax Issues

Today, a wealth of information about sales tax regulations is available on the internet. No longer do you need to rely on a State’s Department of Revenue for information that is too often outdated or poorly explained. Many sales tax consultants, including Windward Tax, produce free newsletters containing updates and tips. Sales tax blogs offer answers to most questions; just make sure the authors are qualified sales tax experts. SalesTaxSupport.com is one of the best sources for free, reliable sales tax support.

RESOLUTION #3: Investigate if Automation is a Smart Option

Sales tax software helps many manufacturers organize their sales tax processes. Is it right for your company? Begin with a software company suited to your needs. Remember, automated solutions are only as good as the data entered into the system. Employees still need to be trained to understand and manage sales tax issues.

Take the first steps to move forward with these resolutions without investing too much time or money.

1) Contact a sales and use tax consulting firm, such as Windward Tax, to research training options. Be sure to compare the content of the training as well as the price. Is the training focused on the manufacturing industry? Is it taught by sales and use tax experts?
2) If a sales or use tax regulation is introduced or amended, get advice from a sales tax expert. Having a one-hour consultation to determine how a new ruling impacts your company can save you thousands of dollars.
3) Sales tax software providers usually offer free demonstrations of their products. If you decide to automate your processes, considering getting help from a sales tax expert with the transition.

Committing to just one of these resolutions could significantly reduce the amount of time your staff spends on sales and use tax issues, as well as help you save substantial tax dollars for your company.

3 Sales & Use Tax Resolutions Manufacturers Should Make in 2017

Save money and reduce your audit assessments by committing to these three sales and use tax resolutions in 2017. Following...

Lauren Stinson, CMI
By Lauren Stinson, CMI
on January 10, 2017
How to Manage Sales and Use Tax Risks --Part 2: Sales Tax Training

This three-part series, How to Manage Sales and Use Tax Risks, examines the three areas where most manufacturers encounter...

Lauren Stinson, CMI
By Lauren Stinson, CMI
on November 21, 2016
Windward Tax Spotlight on Institute for Professionals in Taxation

How can you determine if a consulting firm is qualified to help with your sales and use tax?  Windward Tax recommends...

Lauren Stinson, CMI
By Lauren Stinson, CMI
on February 29, 2016
Anna's Summary of the IPT Georgia One-Day Tax Seminar

 

This November in my hometown of Atlanta, I attended the Georgia One-Day Tax Seminar, presented by the Institute for...

Lauren Stinson, CMI
By Lauren Stinson, CMI
on December 08, 2015
Three Things You Should Know About...Sales Tax Reverse Audits

Companies delay conducting reverse audits for reasons similar to why people put off having physical exams from their doctors...

Mary Albright
By Mary Albright
on February 24, 2015

Leave a comment

Written by