Tax Management Tips: Protecting Your Business from Audits
Sales and use tax compliance is incredibly challenging to manage. Did you know that there are more than 12,000 taxing jurisdictions in the U.S., and each of the 45 states that collect sales tax has different rules and regulations that you must follow? If your process is manual, determining which items are taxable in which states, maintaining rate tables and understanding where you may have invoked nexus is time-consuming and tremendously worrisome. You can easily get your business into trouble with a state auditor if you’ve inadvertently overlooked rules and the auditor comes knocking.
Protect Your Business with an Affordable Tax Management Solution
Trek Global has partnered with Avalara’s tax management team to provide you with affordable tax software that integrates seamlessly. We’ve set it up inside of Trek Cloud ERP for easy subscription by our customers, but it’s also available through partnerships with a host of ERP, CRM, eCommerce and other popular software solutions used by distribution, manufacturing, retail and other industries.
Free eBook: Learn How to Protect Your Business
Avalara recently released a new eBook, Sales & Use Tax Compliance for Dummies. They teamed up with the Wiley Brand’s “for dummies” series to provide this concise, definitive and useful ebook on tax management that our team highly recommends.
Tax Management topics covered in the ebook include:
- Understanding the Sales Tax Landscape today
- How Well Do You Comply with Sales Tax Regulatory Requirements?
- What You Need to Know to Avoid an Audit
- Evaluating Compliance Solutions
- Ten (or so) Tips for Complying with Sales Tax Regulations
Who Benefits Most from Sales Tax Management Automation?
You may be wondering if software for your tax management and compliance issues is necessary. If any of the situations below apply to you, it’s likely time to protect your business with a streamlined tax management solution like Avalara:
- Your company manages a large amount of SKUs or products
- You have high volume transactions
- You’re selling in multiple states or internationally
- You have high volume exempt sales
- You’re in an at-risk industry: Manufacturing, distribution, food & beverages, medical devices, software/hardware, network marketing, services industry, repair & install
- You’re doing business in any of these states, which all have very complicated sales tax rules: Alaska, Arizona, California, Colorado, Kansas, Illinois, Louisiana, Minnesota, New York, Tennessee, Texas or Washington
- You’re growing your business as a result of:
- Mergers & acquisitions
- Online sales
- International sales
- You have remote employees, attend trade shows, participate in drop-shipping or third-party fulfillment or distribution, warehouse or inventory products in other states, or participate in affiliate marketing. Any of these situations can trigger nexus in certain jurisdictions!
Avalara Solves Your Worries: Get Help from a Leading Provider of Sales Tax Management Software
Avalara has been providing tax management automation software for more than a decade and is highly rated as a leading provider of these solutions. They help businesses achieve compliance not only related to sales tax, but also VAT, excise tax, and other indirect taxes. As large company, Avalara has thousands of customers globally and hundreds of world-class partners. Their cloud-hosted Software-as-a-Service solutions not only streamline your tax-related process, they also simplify the burdensome activity of managing rate calculations, exempt-sales management, returns filing, and other important requirements.