How to Start the Sales and Use Tax Conversation with a Client (ACSU)


Discussion Leader
Monika Miles

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How to Start the Sales and Use Tax Conversation with a Client (ACSU)

Customer Rating

Field of Study

Taxes

Level

Basic

Credits

1

Qualifies For

CPE

Overview

Middle market CPA firms typically specialize in tax and audit. But sales tax often falls by the wayside. Sales tax consulting (or even compliance) isn’t a specialty that most small or medium sized firms offer. And yet, by default, your client may expect you to advise them in this area, especially in this age of ecommerce and Amazon. When a client receives notification of an audit, CPAs often are on the receiving end of “why didn’t you tell me?” and are left reacting defensively.

This course won’t make you a sales tax expert in 60 minutes. But, we’ll share state tax basics, hot topics in the sales tax world today, and provide 8 key questions to ask your clients as you are meeting with them for year-end planning, or during your tax return pre-conference. We’ll discuss how to determine the potential scope of a multistate sales tax problem, when to partner with a state tax specialist, including how both the CPA and the consultant can work to maximize benefit to the client while also expanding the scope of projects to offer your client.

Major Topics

  • Tax basics & hot topics in the sales tax world
  • Key questions for clients during tax preparation
  • Potential scope of multistate tax problems
  • When to partner with a tax specialist

Learning Objectives

  • Understand nexus – the concept of taxable presence, and how it’s easier than ever for your client to cross that threshold
  • Become aware of the “hot topic” issues for the technology, e-commerce, retail, and manufacturing industries
  • Walk a client through the steps to determine possible multi-state tax exposure, including unrecorded sales tax liabilities, penalties and interest
  • Understand the various ways for your client to come forward with states in cases of retroactive liabilities and possibly mitigate some of the costs
  • Determine items that may trigger a sales tax audit and how to prepare your client ahead of time to minimize the chance of audit

Designed For

ProAdvisors, bookkeepers, accounting firms, CPAs, AEs

Prerequisite

None

Advanced Preparation

None


Discussion Leader
Monika Miles

No Future Events exist.
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