When we bring up the subject of Sales and Use Taxes to prospective clients, the top three responses we get are:
“Oh, we don’t pay sales tax on our purchases.”
“Oh, we have that handled.”
“Oh, our Accounting Firm does that.”
Oh, Oh, Oh. Zero, Zero, Zero.
Add the Zeros up, and that’s the level of savings most companies won’t receive the benefits now, and in the future. Which could cost your company hundreds of thousands of dollars. It’s like watching your money walk out the door, which is a misfortune. All companies are great at what they do, but may be unable to keep up with all the weekly and daily opportunistic sales tax court cases, which may create huge savings for your company. Most companies have set up their accounting controls and processes years ago, but the landscape is changing every day.
Your reliable CPA, focuses upon your income taxes, financial accounting, and audits. Paying attention to the finite sales tax codes we look at is outside their core areas. It’s like a Heart Surgeon performing Brain Surgery on your child, your company!