Sales tax concerns if you sell through multiple channels
Businesses have new ways to sell today, as marketplaces such as Amazon, TikTok and the business’s...
October 15th ended the last major income tax due dates in 2023.
Most CPAs use the fourth quarter of the year for audit and tax planning for clients, strategic planning for the firm and of course, CPE. (Look out for our December webinar for an additional CPE credit!)
As you are contemplating your clients’ needs and identifying tax planning for them, don’t forget about sales tax planning as well. Most likely, your clients’ businesses are changing and growing with new markets and new products/services. Both of these changes can directly impact your clients’ sales tax responsibilities.
Here are some potential planning projects that can really add value for your clients so they can head into 2024 with a stronger foundation of where they are with sales tax:
You can monitor economic nexus thresholds with our state map – Click here
Taxability reviews can be especially important if they have grown into new states that may tax their products/service differently or if they’ve acquired a new business or product that may have different taxability than their normal line of business.
When you are talking to your clients about areas of risk and exposure, don’t forget to consider sales tax. If you’re looking for more questions to guide your sales tax discussion for end of year planning, check out our new infographic!
If significant risk or sales tax growth is found during these reviews and it is more than you want to manage on your own, look to TaxConnex as a non-competitive partner to alleviate the burden of sales tax compliance for your clients. Click to learn more!
Businesses have new ways to sell today, as marketplaces such as Amazon, TikTok and the business’s...
Copyright © 2024 TaxConnex™