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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

What is a sales tax audit? A sales tax audit determines whether a business has collected and paid the correct amount of sales tax owed to the state for taxable transactions. Auditors examine financial documents and compare total sales revenue with sales that resulted in the collection of sales tax.

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Tax Problem Resolution in the Inland Empire, CA

MyIRSRelief

Benefits: Expert Guidance: Professionals handle all communication with the tax authorities, reducing the stress of direct dealings. Better Outcomes: Experienced representatives can negotiate more effectively and understand what the auditors are looking for. What Should I Do About Unpaid Back Taxes in Corona, CA?

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Friday Footnotes: Ex-CPA Leaves Clients in the Lurch Before Tax Day; EY Layoffs; More ERC Concerns | 4.12.24

Going Concern

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? the auditor of Tesla Korea, about the company’s financial statements for last year.

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Finance Directors’ Tax Toolkit

Menzies

Menzies are often appointed by the Finance Directors of large companies and groups to work alongside their existing auditors. Menzies LLP - A leading chartered accountancy firm. Click each heading below to expand each section on the toolkit.

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Friday Footnotes: EY Buffs PE Practice; A Thirst for Integrity; “Everyone Feels KPMG Is 4th” | 6.10.22

Going Concern

This latest statement follows a pair of statements issued in October 2021 and December 2021, both of which similarly highlighted auditor independence. This latest statement follows a pair of statements issued in October 2021 and December 2021, both of which similarly highlighted auditor independence.

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How e-invoicing and continuous transaction controls (CTCs) impact tax teams and compliance efforts: Part 2

ThomsonReuters

In the second installment of our three-part series on e-invoicing, we will explore how e-invoicing and continuous transaction control (CTC) regulations impact tax compliance, and examine some of the challenges and considerations that corporate tax teams may encounter.

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Are Gifts to customers and business associates deductible expenses?

Ronika Khanna CPA,CA

This will jog your memory in the event of an audit and provide a documentary trail that auditors are fond of seeing. Corporations and small business owners can contribute freely to registered charitable organizations in exchange for an official donation receipt.