Sales & Hospitality Tax Consulting

 

Sales Tax Consulting
With the rise of internet sales of merchandise and services, businesses regardless of size, need to manage the collection, payment and reporting of sales tax to many jurisdictions including state, county and municipal revenue departments. Out-of-the-box software cannot efficiently serve such functions in multi-state sales tax situations. Misreporting, late reporting and late payment of taxes to jurisdictions cause hefty fines, penalties and levies. Sales tax law is some of the most confusing and convoluted of all tax law. And given the revenue constraints most states are grappling with these days, it is not at all surprising that the resources being devoted to audits and nexus inquiries are increasing rapidly.

The QuickBooks general ledger package that dominates the small business accounting software market only has the ability to handle basic sales tax considerations. Many companies are finding that it would take a full-time employee just to keep up with rate changes and jurisdictional procedure should you find yourself in a situation where you need to collect sales tax in multiple states. The laws are changing dramatically as States try to put themselves in position to collect tax on out of state, internet based sales. Because of these situations, Steven Innis, CPA has worked extensively with the Avatax System by Avalara. This system provides real time tax calculations for invoices produced on either the QuickBooks platform (or many other general ledger platforms). Avatax is a proven solution that could help your company to gain compliance in this battleground area. If you believe your company presently has sales tax obligations that are simply beyond your ability to meet, please contact Steve Innis today to talk about a system to address it. Ivy Wall consult can bring clarity and efficiency to an otherwise unwieldy and inefficient operation using your present accounting software in conjunction with the Avatax system.

Hospitality Tax Consulting
On Cape Cod, the Islands and in many other tourist destinations, lodging properties handle monthly lodging reporting and remittances. The reporting of these transactions is becoming more complicated due to the advent of additional local taxes that are becoming in vogue for cash strapped municipalities. These calculations can be cumbersome in some destinations as tax receipts and remittances must be separated by jurisdiction, reported and timely remitted, often in an online reporting environment that is not coordinated with your accounting systems.

These functions can be seamlessly integrated into an existing accounting system by Ivy Wall Consult. Working with the chief financial officer, controller or accounting department, Ivy Wall will eliminate duplications of effort and make reporting lodging tax liabilities an efficient operation, regardless how many jurisdictions are involved.