Texas Sales Tax Insolvency Settlement Attorney
Texas Sales Tax Insolvency Settlement Attorney – for contested sales tax cases The comptroller may settle a claim for a tax, penalty, or interest; only if the taxpayer proved by a 51% chance that: (1) Collection of the total amount due would make the taxpayer insolvent and the taxpayer has submitted all financial records including […]
Texas Sales Tax Audit on used car financing
Used Car Financing and Texas Sales Tax Audits If you are a used car dealer that deals with buyer financing, then, you need to make sure that you are charging the correct sales tax when it comes to buyer trades. Facing a sales tax audit in Texas? Contact our attorney for a consultation.
Do Contractors create a nexus
Do Contractors create a nexus If your business requires contractors that get paid on a 1099 to work for you in another state, then, you might have created a nexus. If that contract worker takes part in: 1. Helping you build and/or2. Create a new market, then, Most likely you have a nexus. If you […]
Research and development IRS tax credit audit risk
Research and development IRS tax credit audit risk If you are concerned about the IRS auditing you for taking research and development tax credits, then, follow the pointers below: 1. There must be a process of experimentation that is well established and documented! This is the main objective of the IRS audit. They need to […]
How to set up an invoice for a sales tax audit
How to set up an invoice for a sales tax audit When issuing invoices to clients, it is imperative to break out the charges. For example, if you have shipping, installation, or even training charges, then, you must state it as such. Otherwise, the entire invoice will become taxable! Example 1: A poorly-written invoice Quantity […]
How to determine Nexus in Dropshipping
How to determine Nexus in Dropshipping: In a drop shipping setting, just keep in mind that there are 3 players: 1. Seller2. Dropshipper (distributor)3. Customer The general rule: Sales tax is collected at the end-state of the sale, where the customer resides. Note: If the Dropshipper has Nexus, but the Seller does not, then, the […]
Tire Shop Sales Tax Audit
Sales Tax Audit for Tire Shops The most common problem that we see on sales tax audits with tire shop pertain to these issues: 1. Bring your own part (BYOP)2. Resale certificates3. Purchases from eBay motors Bring your own part:If your customers are bringing in their own parts for you to simply install, then, it must be […]
Convert LLC to INC in Georgia
Convert LLC to INC in Georgia You are very lucky that you are doing business in the state of Georgia. Not all states offer this simple method of converting your LLC to an INC. See below: Georgia conversion – LLC to INC. (Fees: $95 for the Certificate of Conversion and $100 for the Articles of […]
Georgia Drop shipping sales tax rules
Georgia Drop shipping sales tax rules E-commerce grew by 41% in 2021. The most popular question that I get is what is drop shipping and what are my sales tax obligations around drop shipping? Drop shipping has 3 players – the end consumer, website owner/seller, manufacturer are the 3 parties. Let’s simplify this situation.1. Do […]
Georgia Resale Certificates Not Enough in Audit
Georgia Resale Certificates Not Enough in Audit In an effort to keep up to speed with the latest changes in Georgia sales tax rules and regulations, I wanted to brief you on the topic of resale certificates. Resale certificates are given to those vendors that purchase at wholesale prices and then, turn around and resell […]