General Contractors, Subcontractors, And Sales Tax
Who Pays the Sales Tax in a Construction Setting? Normally, the sales tax is paid on the materials when it is purchased. If not, you need to make sure it is correctly listed on the invoice as a separate line item. Subcontractors are not off the hook. They need to show that they have also […]
Mark-Ups And Spoilage In A Sales Tax Audit
Documenting Spoilage in a Sales Tax Audit If you purchased items that cannot be sold due to spoilage or damage, you need to document it properly. Otherwise, you might be liable for the sales tax. Important:Always maintain clear records of spoilage to protect yourself during a sales tax audit. Transcript Markups, Spoilage, and Sales Tax […]
Sampling In A Sales Tax Audit
Sales tax audits are not always a precise science of calculating the true number that a business might owe. A lot of times it’s almost guessing at the most reasonable number. Transcript What’s the Big Deal About Sampling and Error Rates in a Sales Tax Audit? I’m Mansoor Ansari with Nexus Tax Defense. At the […]
Sales Tax Voluntary Disclosure
You might want to file for a voluntary sales tax disclosure if you want to avoid penalties. However, you have to meet the test. Transcript Why Would You Want to File a Voluntary Disclosure for Unpaid Sales Tax? The answer is quite simple: penalties. You want to be able to pay back the sales tax […]
Is Labor Taxable In Georgia?
Depending on the type of labor that you are providing, you might need to tax the transaction, or maybe a part of it. Make sure to break down the invoice and describe the labor. Transcript Is there sales tax on labor in Georgia? The basis for a taxable sales price for an item sold in […]