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Automation’s place in compliance

TaxConnex

Since the first adding machine showed up on counters to help shopkeepers tack on the correct sales tax, automation has been part of compliance. Good thing, too, as sales tax has evolved beyond a static percentage to involve thousands of tax jurisdictions and ever-changing calculations.

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TaxConnex Releases Research that Reveals Top Concerns Among Financial Leaders Responsible for Sales Tax in

TaxConnex

TaxConnex is pleased to announce the completion of their second annual sales tax survey finding that the increasing sales tax complexities, growing nexus, fear of sales tax audits and limited resources to do what is necessary to remain compliant are among the top worries of financial professionals heading into 2022.

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6 Steps to Getting Sales Tax Right in 2024

TaxConnex

We are at the end of Q1 of 2024 and continue to discuss how to ensure your business is set up to get sales tax right in 2024. If you’re like the over 49% of businesses who participated in our annual sales tax trends survey and are unsatisfied with the way you are managing sales tax, then you’re in the right place.

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Time constraints surrounding sales and use tax

TaxConnex

Your online business is painfully aware of tax deadlines for income, payroll, property and other local taxes. Sales and use taxes have their deadlines, too – a dizzying number to follow, potentially with bad consequences if you miss even one. A lot of complications Currently, sales tax across the U.S.

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The Big 3 Barriers to Managing Sales Tax

TaxConnex

Think you’re the only one worried about sales tax compliance? According to our third annual Sales Tax Market Survey you’re not. Our company is highly acquisitive and this results in lack of consistency when it comes to billing, accounting and reporting,” said one survey respondent.

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Sales Tax Horror Stories: Audits

TaxConnex

Know what word in sales tax also has five letters? Few issues in the area of tax are more terrifying than this kind of exam from a tax authority. Sales tax audits can certainly become nightmares – but they can be handled, too, with the right steps, allowing you and your business to move forward.

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Sales Tax Horror Stories: Adding new products without checking taxability

TaxConnex

Just don’t let sales tax turn the situation into a nightmare. Consider: Your new product is not taxed but should have been. In the first year, your sales total is $100,000 (the economic nexus threshold in many states) and grows 20% annually over the next three years, for a total of $364,000 in sales.

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