Georgia Sales Tax Audit Techniques
Audit Techniques Interview Procedures Business Observation Procedures Verification of Records Formula for Analysis:Total Gross Receipts ÷ Number of Days the Store was Open = Average Daily Sales.This can be compared to the sales on the day the examiner toured the business. Cash Deposit Verification External Verifications Credit Card Transaction Testing Frequently Asked Questions What is […]
Atlanta Convenience Store Sales Tax Audit
Overview of Convenience Stores Convenience stores, mini-marts, and bodegas are small-sized stores that offer a limited range of grocery, drug, and snack items people are likely to need or want as a matter of convenience. Most convenience stores are located on busy street corners or in gas stations, where they can be utilized by both […]
Atlanta Restaurant Sales Tax Audit
Overview of Atlanta Restaurant Sales Tax Atlanta Restaurant Sales Tax Audit is 8%. Meals taxes generally apply to purchases of prepared food that are: In contrast, sales of groceries (or “non-prepared food”) are: Meals taxes are usually locally imposed but are sometimes imposed at the state level. Justifications for Prepared Food Taxes These high “prepared […]
Georgia Sales Tax Audit on Food
Overview If your store or restaurant is being audited by the Georgia Department of Revenue (DOR), you need to understand the distinctions between cooked food, uncooked food, and grocery items. If you are selling all three types of items, it’s essential to separate these transactions clearly on your sales invoices and cash register. Failure to […]
Sales Tax Attorney Atlanta
Understanding the Role of a Sales Tax Attorney in Atlanta If you are reading this entry, then chances are that you are either being proactive about an audit, or you are currently going through an audit. A popular question among business owners is when you have to charge a service as part of the gross […]
International Gifts Tax Attorney Atlanta
Overview of Reporting Foreign Gifts If you are a U.S. person who received foreign gifts of money or other property, you may need to report these gifts on Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts. Form 3520 is an information return, not a tax return, because […]
Georgia Sales Tax on Home Contractors
Sales Tax Questions from Contractors With summertime around the corner, a lot of our clients have been asking us about the sales tax that they need to collect from their clients. For example, a client of ours that sells kitchen cabinets might want to know if they need to collect sales tax on the merchandise […]
FBAR Tax Attorney Atlanta
Understanding IRS Compliance for Expats and Foreign Accounts Whether or not you are a bank account holder in a foreign nation, the following article will help shed light on how the IRS is now targeting individuals for new compliance measures. Are you an American expat and haven’t filed a tax return in years? Have you […]
OVDI OVDP Tax Attorney Lawrenceville
IRS Changes to Offshore Voluntary Disclosure Programs In 2014, the IRS made major changes to the Offshore Voluntary Disclosure Program (OVDP) and the Streamlined Voluntary Disclosure Program (SDP). Note: These programs are not available to taxpayers already under an IRS audit that has been transferred to the IRS Criminal Investigations unit or whose non-compliance has […]
Offer In Compromise Attorney Atlanta
Can You Negotiate My Debt? This could possibly be our most common phone call: “Can you negotiate my debt? I heard the IRS takes pennies on the dollar.” The answer is yes or no depending on your financial situation. Below are examples to help explain. Let’s assume the taxpayer owes $70,000.00 in tax liability. Example […]