Last Updated: April 2, 2020

Using This Time To Your Advantage

Business owners and employees woke up last week to a new reality with the spread of COVID-19 within the United States. Rules and regulations seem to be changing by the hour. It is tough to stay on top of and, more importantly, ahead of what is yet to come. With employees working from home and lack of foot traffic, below are some questions to ask yourself and take advantage of this time.

 

Q: What can I do to improve operations?

A: Now is the time to review procedures and train staff. Streamlining and optimizing operations has a direct impact on your bottom line.

 

Q: How can I reduce losses?

A: The last area businesses look at to reduce losses is sales and use tax. You may be charging customers too much or paying too much tax which reduces your profit and affects your ability to compete with others in your industry.

Solutions:

  • Sales & Use Tax Compliance Assessment—a high-level review of your sales and use tax system by a former WI Dept of Revenue auditor. Let the auditor spot areas of concern to ensure you pay only what you owe!
  • Reverse Audit—a review to identify available exemptions and possible refunds of tax. Who couldn’t use a refund right about now?
  • Nexus Study—a review to identify your sales tax liability in other states. You may be registered in states that you do not have a filing requirement.
  • Training—custom training for you and your staff provided via webinar.

 

Contact the Sales & Income Tax Advisory Network at hhoffman@salesandincometax.com for a free consultation to identify how we can best serve your business.