I have blogged quite a bit on heightened audit and tax controversy issues due to the nature of federal and state coffers. One big area of audit activity is use tax. The jurisdictions are going out pretty aggressively after those unreported revenues. So, when our guest blogger Diane Yetter asked if I might be interested in an educational post on the accrual of use tax on taxable purchases, I jumped on it! For those of you who don’t know Diane, she is Diane L. Yetter, CPA, MST. She is a strategist, advisor, speaker and author in the field of sales and use tax and the president and founder of YETTER, a sales tax consulting and tax technology firm. She is also founder of The Sales Tax Institute, a premier think tank that offers live and online courses to educate business professionals about sales and use tax. Below is a great discussion use tax and requirements you need to consider for compliance and automation….
My colleague, Kelley Lear, and I have spent a significant amount of time over the last several years educating tax pros on the benefits of using social media. We have done everything from writing blog posts to giving presentations at tax and tax technology conferences, like ACT and IPT. Surprisingly, there is still a lot of apprehension amongst tax professionals. Some of the reasons include concerns over security of personal information, time required to participate, doubts with respect to the benefits and fear of the unknown. For business purposes, Kelley and I are big proponents of LinkedIn and Twitter. We also have a company page on Facebook and use it personally.
At the recent IPT conference held in Orlando, FL I had the opportunity to hear a key note speaker by the name of Garrison Wynn. He is a comedian, consultant and trainer, and author who wrote a book which is the culmination of over 15 years of experience and research with regards to what makes people successful. It is titled, “The Real Truth About Success”. What Garrison Wynn found was that some of the things that we all take for granted in terms of “success factors” and traits of successful people are not actually fact. Wynn’s research looks at the fact that the best and the brightest may not always be the most successful. People may use particular traits or strengths of nature, character and circumstance to get out ahead of the competition.
Only in New York will you see ranting cab drivers honking their horns constantly, find a city alive at three in the morning and eat some of the best, most eclectic varieties of food. It is truly one of the greatest cities in the world. However, tax professionals are aware of something else that is only in New York – the Department of Taxation and Finance (DTF). And, to the dismay of most corporate taxpayers, they have been doing their best over the last year to increase their state’s tax revenues with a heavy focus on the corporations.
Two weeks ago at the Institute for Professionals in Taxation (IPT) annual conference in Orlando, I got the opportunity to sit in on what I believe was one of the best sessions of the week, Deep Dive Into New York Corporate Income Tax Issues, co-presented by Maria Eberle, Associate at McDermott Will & Emery and Nigel Bisnath, Manager Direct Tax at Noble Americas Corporation.
We are thrilled to announce the latest release of eTaxPortal™, a radical new solution for tax pros that allows them to collaborate, streamline, standardize and control workflow around tax compliance, filing, payment processing, notice management and audits. This progressive release includes a first-of-its–kind, certified integration with Anybill, Inc., to provide end-to-end tax payment processing electronically. It also includes the batch analysis, review and approval processes to manage all compliance and tax payment remittance, as well as full documentation and an audit trail.