IDEA: Hire an outside sales/use tax expert to create your company’s checklist of valid exemptions.

Don’t overpay on sales and use tax. Sales/use tax law is complicated throughout all of the states.  Hire a sales tax expert to go through all of your purchases in order to help you define what you should pay but more importantly what you should NOT pay. Hire him to minimize your sales tax expense by giving your firm specific guidance on when to pay sales/use taxes. Exemptions vary from state to state and you do not want exposure in the future in the event of a sales tax audit.  Hire an expert to come in, comb through your expenses and list those that are tax exempt and those that are not.  No one on your staff is a tax expert for all of the states. Spend the money upfront and be assured you are not spending too much.  Sales tax audits do not reveal overspending, only your shortage and tax liabilities.  Hire an expert and teach your purchasing and AP staff to minimize your tax expenses.

Is there anything we missed?

How would you improve the idea above ?

OR Log in With

IDEA OF THE DAY
SIGN UP FOR THE "Best ideas" NEWSLETTER

Get the best new business ideas sent to you daily.

SIGN UP
SUBMIT AN IDEA

Here’s an opportunity to contribute your best idea to boost a company’s bottom line, and maybe qualify for a weekly award.

saved article

My Bookmark Category


  • Great Profit Ideas