Intaxication: The Red Moon Solutions Tax Blog

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Reverse Audit Tips for Tax Professionals…Get some COLD CASH?

Posted by Kelley Lear on Nov 16, 2011 in Audit, Tax | 0 comments

As most of you know by now, Traci Wheeler and I attended the Vertex Exchange 2011 at the Bellagio in Las Vegas, Nevada. So, I thought it would be fitting to share some of the topics of discussion that relate directly to COLD CASH! Or, perhaps ways of uncovering tax savings within our organizations. Vegas, although completely over the top with a whirlwind of cash, shows and every type of tantalizing cuisine you can imagine, can also remind one of cash flow and waste…(at least with my gambling skills)! Therefore, I thought I’d share some of the latest thinking shared by a number of tax professionals during a panel discussion called “Reverse Audits – Uncovering Savings Opportunities”. This was more than a straight discussion on sales tax audits, use tax or simply discussing unclaimed tax refunds….

What Frightens You?

Posted by Kelley Lear on Oct 11, 2011 in Audit, Audit, Compliance, Process Improvement, Tax | 2 comments

I thought the title was apropos for this time of year, with “All Hallows Eve” so soon upon us…what does frighten you? Is it scary late night ghost stories by the fire, or watching a Michael Myers movie in your dark living room with the wind whipping outside your window pane, and the distant call of a coyote in the background? Or perhaps it is the tall, dark and bony image of a grim reaper in dark robes invading your dreams…reaching out for you with an outstretched hand and ominous groan, with you waking up in a cold sweat? Well, for many of you tax professionals out there (a bit more practical like myself), perhaps the scariest thing you can think of is a “Material Weakness” or a “Tax Restatement”!

Top 10 Things you May Not Know about Tax Exam Management…

Posted by Kelley Lear on Oct 5, 2011 in Audit, Process Improvement, Tax | 0 comments

I just had one of our loyal blog readers out there send me a screen shot from a recent webcast from the Deloitte Debriefs Tax Operations Series titled “Tax Data Management: A Foundation of Sustainable Tax Compliance, Planning, and Examinations Support” (and yes, that is quite a mouth full). This Intaxication blog reader has been undergoing significant audit activity at his company and wanted to look at our AuditRoom coming out of the Deloitte webinar. The screen shot that he sent me from the meeting provided the results to one of the polling questions from the audience. It was as follows:

Introducing “Audit in a Box” – Newest Cloud Computing AuditRoom!

Posted by Kelley Lear on Sep 14, 2011 in Audit, Compliance, Software, Tax | 0 comments

Today we are excited to announce our latest version of the AuditRoom, the first flexible, cost effective cloud computing end to end audit solution!

The newest release of this powerful, yet affordable Software as a Service (SaaS) tool for corporations manages the audit process, data, and documents, efficiently and effectively while also managing tax risk and improving internal controls.

AuditRoom – Managing Audit through Appeals

Data Security – Audit through Appeals: What me Worry?

Posted by Kelley Lear on Jul 14, 2011 in Audit, Empowerment Series, Software | 0 comments

We have been attending many conferences and industry group meetings, meeting with tax consultants and speaking with our corporate tax customers out there…and everyone is concerned about the same thing. Audits through appeals! With aggressive IRS and State and Local tax audits heating up hotter than ever before, companies are looking at their current processes to see if they can mitigate audit risk, reduce audit costs and maximize tax savings for their organizations. To this end, we have been enhancing our AuditRoom solution to streamline, control and secure the process down.

Everything But The Kitchen Sink

Posted by Traci Wheeler on Jul 13, 2011 in Audit, Compliance, Events, Tax | 0 comments

Unfortunately for most taxpayers going through a property tax audit, having the auditor ask for “everything but the kitchen sink” may be an all too familiar request. General ledgers and trial balances? Fixed asset ledgers? Sample invoices? As attendees learned two weeks ago at the Institute for Professionals in Taxation (IPT) conference, most of the above information is ok to share, depending on the type of audit a company is going through. In a very informative session, What Information Do Auditors Really Need, co-presented by Bryant Bartolone, Manager State & Local Tax at The Timken Company, and David Hurrell, Senior Manager at Ernst & Young LLP, attendees actively shared their experiences while the presenters reviewed the types of audits – review, informal and formal – and associated information requests.

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Blog Authors

Jim Shedivy

Jim focuses on the long term strategy and the alliance opportunities for Red Moon Solutions, a privately held family business. He has over twenty years of experience in managing tax technology projects and businesses.

Kelley Lear

Kelley is a member of the executive leadership team and leads our sales and marketing efforts at Red Moon Solutions. Kelley’s extensive experience in project management, product management, and consulting with Fortune 500 and Global 1000 clients is extremely important in this role.

Susan Sabatini

Susan Sabatini is the Client Services Manager at Red Moon Solutions. She uses her project management experience and a client focus to ensure Red Moon Solutions’ clients have successful implementations. Susan also leads our client support team.

Traci Wheeler

Traci is a member of the executive leadership team and leads our sales and marketing efforts at Red Moon Solutions. She has over ten years of software business experience serving small and large clients in a variety of industries.