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It Depends

A Sales Tax Podcast by TaxConnex

 

Welcome to 'It Depends', a sales tax planning podcast hosted by Brian Greer and Jeff Meigs from TaxConnex. In this podcast, we explore different aspects of sales and use tax. So whether you’re a tax pro or a novice, in industry, school, or a practicing CPA, tune in and join us as we attempt to simplify the complexity of the sales tax world.

 

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episode 24

 

Our Origin Story (ft. Robert Dumas, TaxConnex Founder & CEO)

In this episode of It Depends, our guest host is Robert Dumas, TaxConnex Founder & CEO. He's diving into the origin story of our company, including the history of his career, how he got into the sales tax outsourcing business, and an explanation of our mission, values and business model… answering your what, why and how questions. Listen now!

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episode 23

 

Sales Tax Crimes - Pt.1: Restaurant Operator Faces Prison for $500K Tax Fraud

In the first episode of our Sales Tax Crimes series, we're diving into the story of John Garofalo Sr., a restaurateur turned tax evader. How did he pull off this scheme for almost seven years? Discover the investigation that led to his guilty plea and the looming threat of a three-year prison sentence. Tune in to uncover the details of this tax fraud case out of Union County, New Jersey.

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episode 22

 

Ensuring You Have a Process in Place to Manage Sales Tax

Sales tax can be complicated if you don't understand what needs to be determined first. You will need to determine where you have nexus, what products/services are taxable, when to register for a sales tax permit, how to manage ongoing sales tax compliance, and much more. Luckily for you, we are experts when it comes to all these factors. In this episode, Brian and Jeff explain the fundamentals of sales tax so you can understand what is required of you to comply with state and local sales tax.

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episode 21

 

Navigating Retail Delivery Fees

Navigate the complexities of retail delivery fees and how they impact your compliance processes. This episode will help you gain a better understanding of what a retail delivery fee is, where they are implemented, or where they will be in the coming months. We also cover questions to ask yourself in how you will manage and strategies to effectively manage.

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episode 20

 

Common Sales Tax Filing Mistakes & How to Avoid Them

Sales tax is not something top of mind for most executives, but it is something that the majority of businesses will have to manage at some level. No matter the size of your business, if you are selling a taxable product or service and establishing nexus in specific states or jurisdictions, then you have a sales tax obligation. While it is not meant to be a burden on the seller, many businesses have been left scrambling to understand how to manage the complex process of sales tax compliance. There are many moving parts and as states continue to make adjustments to their statutes, it is important to stay in the know. In this episode, we discuss common sales tax filing mistakes we see as businesses try and manage their compliance process and how to avoid them. Listen now!

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Get CPE for this episode! Click here

episode 19

 

Sales Tax FAQs

There’s no doubt that sales tax is challenging. Regulations differ from state to state, and deciphering whether you need to collect and remit taxes in a particular state can feel overwhelming. In order to help you gain a better understanding of the subject, we've gathered some of the frequently asked questions we get about sales tax. Listen now!

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Get CPE for this episode! Click here

episode 17 (1)

 

Sales Tax Implications of Drop Shipments

If you utilize drop shippers to deliver products to your customers, you would expect your purchase to be exempt for resale purposes. However, as states continue to expand their reach, more and more companies are being caught off guard when their drop shipper starts charging them sales tax or refuses to accept their home-state resale certificate. Don’t eat the sales tax in these situations. Make sure you understand the rules and how to exempt these sales. And for drop shippers, make sure you are accepting the proper resale certificates from your customers. Listen now to learn more!

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episode 17

 

Risks of Sales Tax Non-Compliance

Once your business establishes nexus and you've ensured your products and/or services are taxable, you become responsible for collecting and remitting sales tax. That'd be pretty straightforward if it weren't for the 10,000+ taxing jurisdictions across the US that you have to keep up with. If you have a sales tax obligation and are not collecting and remitting sales tax, you could be at risk for hefty penalties and fees. Even if it's an honest mistake, it could be a costly one. Listen now as we look at the ways you can get caught, how it may not be just your business at risk, and some of the repercussions of being caught not in compliance.

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episode 16

 

Sales Tax Hot Topics

5 years post Wayfair Decision, most businesses at least understand the potential to have a sales tax obligation and have a way to manage their obligations, even if it’s not fully or how they want to do it. But having a sales tax compliance process and understanding your obligation is not a set it and forget it type of business operation. Sales tax rules and regulations continue to evolve and at times become even more confusing. Listen to this episode to dig into some recent hot topics or changes that you need to be aware of as you manage your on-going sales tax compliance.

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episode 15

 

Navigating Sales Tax Compliance in eCommerce & Retail

In this episode we dive into the complexities and challenges faced by businesses in the eCommerce and retail space. Whether you are an e-commerce entrepreneur, an online retailer, or a brick-and-mortar store venturing into online sales, understanding your sales tax obligations is crucial. Listen now so that you can ensure that your business is set up for success!

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episode 14

 

Marketplace Facilitators 101

Online sellers hear an endless amount these days about “marketplace facilitators.” What are they? How can they help you? And how can they hurt? In the world of sales tax, household names like Amazon, eBay, and Etsy are major marketplace facilitators, but what are your sales tax obligations when selling through them? Listen to this episode as we discuss the sales tax implications of marketplace facilitators.

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episode 13

 

Identifying & Managing Your Clients' Sales And Use Tax Risk

Sales and use tax is often low on the list of priorities for businesses, and thus not a main focus of many Accounting Practices and Firms. But the complexities and risk surrounding sales tax can cause a real issue for your client if not managed properly. In this episode, TaxConnex shares some of the triggering events businesses experience that could cause a need to evaluate their sales tax obligations, how you can approach and review your current clients to identify need before a triggering event and steps to ensure ongoing compliance.

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episode 12 (1)

 

Common Pitfalls of Sales Tax Compliance

Sales tax is complicated, even for the most experienced tax practitioners, but it is a critical part of running a business. Unfortunately just a few missteps can add up to big liability in the sales tax world. This episode navigates the most common pitfalls related to managing ongoing compliance and provides tips to mitigate and manage your sales tax risk.

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episode 11

 

A Strategic Timeline to Sales Tax Compliance for Your Business

Managing your sales and use tax obligations is not a small task. Ensuring you have the right people and processes in place is key to maintaining compliance and not putting yourself or your business at risk. Every business is different and has unique needs so it's important to know when you should start your journey to sales tax compliance. In this episode, we discuss all the steps involved in setting up a proper sales tax compliance process and give you a better understanding of how long it will take your business to fully implement a seamless solution.

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episode 10

 

Common Misconceptions of Telecom Tax

Tax and regulatory compliance can be a complex and daunting task for any business, but some of the most difficult to understand are the telecom and VoIP industries. There are various taxes and regulatory fees including communication services taxes, utility users’ tax, E911 fees, Federal Excise Tax, right of way fees, USF, and more. But often telecom and VoIP businesses fall into a trap of believing they don’t actually have an obligation. Listen now as Jeff and Brian discuss the common misconceptions growing telecom and VoIP businesses encounter related to their tax and regulatory obligations.

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episode 9

 

Sales Tax Risk Mitigation

Failure to comply with the applicable sales tax rules can have a devastating effect on your business. Listen to this episode now as we discuss how to determine your level of risk and exposure, as well as tools and procedures to potentially reduce your taxes owed and penalties. 

 

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episode 8 (1)

 

5 Sales Tax Challenges Facing Growing Companies

As your business grows, so could your sales and use tax obligations. Businesses face all sorts of challenges as they grow, but one that is often overlooked is their sales tax obligations. As your business expands into new areas or new products and services, your sales tax obligation could be growing with you. If you don’t have the right steps in place to manage and track your sales tax, then you could be at risk for hefty penalties and fees. In this episode, we look at 5 challenges facing growing businesses when it relates to sales tax.

 

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episode 7

 

Multi-Channel Selling & Your Sales Tax Obligations

Selling through multiple channels can greatly impact your sales tax obligations. Without knowing how different channels can impact your footprint, you could be putting yourself at risk for non-compliance. In this episode, we look at three specific channels – direct, through a marketplace, and invoiced sales – and discuss their potential impacts on your sales tax obligations and any nuances you will need to navigate to maintain compliance when selling through any combination of these channels. 

 

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episode 6

 

How Sales Tax Impacts Mergers & Acquisitions

Failure to comply with the applicable sales tax rules can have a devastating effect on your business.  Particularly if you or one of your clients will be going through a merger or acquisition. Listen now to understand how sales tax can impact the standings of your M&A.

 

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episode 5 (1)

 

Managing a Sales Tax Audit

For many businesses, an audit is one of the most intimidating things that can happen. But the reality is, thousands of businesses are audited each year, sometimes for no reason at all. Join us as we discuss how to manage the sales tax audit process and learn a few things to keep in your back pocket, just in case you find yourself in the hot seat.  

 

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episode 4

 

Sales Tax for Tech & SaaS

Technology companies, including software, digital services and goods, SaaS, and more, have always had challenges related to managing sales tax, one of the biggest being understanding what is actually taxable and where. The taxability and even the definition of digital goods and services is something that differs from state to state and not easy to keep up with. Listen to this episode as we dive into the complexities of taxation of digital goods.

 

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episode 3

 

Risks of Non-Compliance

If you have a sales tax obligation and are not collecting and remitting sales tax, you could be at risk for hefty penalties and fees. Even if it’s an honest mistake, it could be a costly one.  In this podcast we will look at the ways you can get caught, how it may not be just your business at risk and some of the repercussions to being caught not being in compliance. 

 

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episode 2

 

Sales Tax 102: Ensuring You Have a Process in Place to Manage Sales Tax

Sales tax can be complicated if you don't understand what needs to be determined first. You will need to determine where you have nexus, what products/services are taxable, when to register for a sales tax permit, how to manage ongoing sales tax compliance, and much more. Luckily for you, we are experts when it comes to all these factors. In this episode, Brian and Jeff explain the fundamentals of sales tax so you can understand what is required of you to comply with state and local sales tax.

 

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episode 1

 

Sales Tax 101: Understanding Sales Tax Nexus

Sales tax can be complicated if you don't understand what needs to be determined first. You will need to determine where you have nexus, what products/services are taxable, when to register for a sales tax permit, how to manage ongoing sales tax compliance, and much more. Luckily for you, we are experts when it comes to all these factors. In this episode we dive into understanding sales tax nexus.

 

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Meet the Hosts

Brian circular

Brian Greer

Partner, Chief Revenue Officer

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Jeff Meigs

Partner, Practice Consulting Leader