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A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify and recover Sales & Use Tax overpayments as opposed to the traditional focus on underpayments in state audits. Whereas State initiated audits are aimed at detecting underpayments and assessing additional tax, penalties, and interest, a RSUTA is a taxpayer initiated
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify and recover Sales & Use Tax overpayments as opposed to the traditional focus on underpayments in state audits. Whereas State initiated audits are aimed at detecting underpayments and assessing additional
Washington Business & Occupation (B&O) Tax is a tax imposed by the state of Washington on the privilege of doing business within the state. It is a tax on gross receipts, regardless of profit, and is based on the type of business activity being conducted. The tax is imposed on
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify
Washington Business & Occupation (B&O) Tax is a tax imposed by the state of Washington on the privilege of doing
What is Cost Segregation? A cost segregation study might be thought of as an interest free loan that frontloads the depreciation
How to Calculate R&D Tax Credits There are two general methods for computing the Research and Development Tax Credit, the
During the holiday season, many of us end up at a holiday party or two, celebrating with friends, family, and
The largest and most complex tax cut in U.S. history, the Tax Cuts and Jobs Act (TCJA), has left American
The Tax Cuts and Jobs Act that was recently passed by Congress raised a lot of concerns and questions about
It’s tax time! Is your company and your CPA firm working vigorously to gather the financial data for 2017? Are
Qualified Small Business R&D Payroll Tax Credits Source Advisors often receives questions related to the R&D Tax Credit and how it can
What are Federal Tax Credits? Tax season can be a daunting time, filled with forms, calculations, and the question: am I getting the most out of my tax return? One often overlooked benefit that can significantly impact your tax liability is tax credits. But how exactly do they work? Think
The R&D 4-Part Test Imagine the 4-part test as a sturdy bridge connecting your R&D activities to tax credit rewards. Each part acts as a pillar, ensuring your project meets the eligibility criteria: Permitted Purpose – What Problem Are You Solving?The core of your R&D activity must be to develop
Are You Looking to Free Up Capital for Your Company? Cost Segregation studies might be the solution you need. By accelerating the depreciation of tangible personal property (§1245), land improvements, and Qualified Improvement Property (QIP) as well as identifying various expensing opportunities associated with commercial and residential properties, a Cost
Choosing the right cost segregation provider is a vital part of optimizing tax savings for your business. The provider you choose should be reliable, experienced, and capable of providing high-quality cost segregation services that fit your business needs. Below is a list of essential factors to consider when evaluating a
Sales Tax Registration for Businesses A business that is selling goods and services within a state must register with the
What is New York City’s Commercial Rent Tax? The Commercial Rent Tax (CRT) is a tax imposed on businesses that
What is a sales tax voluntary Disclosure Agreement (VDA)? A sales tax voluntary disclosure agreement (VDA) is a program offered
If you have paid sales tax in error or have paid more sales tax than you owe, you may be
Over the past four years, the sales tax landscape in the United States has changed significantly. The introduction of economic nexus –
Maryland Declares SaaS Taxable The hottest topic in the State & Local Tax community has been the emergence of tax
Sales and use taxes are the lifeblood of many state and local governments. But for businesses, navigating the complexities of sales tax compliance and facing a potential audit can be stressful. This blog aims to shed light on what sales and use tax audits are and how to prepare for
Sales & use tax audit notices are never a great letter to receive in the mail. But, by following the steps outlined in this article, they may not be as bad as they seem. Whether you are running a service or product-based business, it does not take much for sales
Understanding Section 174 and Its Impact Section 174 of the Internal Revenue Code governs the treatment of Specified Research or
What is Section 174? Section 174 of the Internal Revenue Code now defines the treatment of Specified Research or Experimental
Section 174 Changes Impact R&D Tax Credits for Software The new changes to Section 174 have a significant impact on
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