Martin and Associates

The Year-Round Tax Problem

Accounting Today recently wrote an article comparing the various sales & use tax solutions to help you select the right service for your business. A lot of factors can play a role in choosing the correct software, including having multiple business locations, doing business in other states or countries, working with non-profits. All of these things could be subject to different tax rates or require tracking your current software doesn’t account for.

Major companies have the manpower to devote to sales and use tax issues. Your business may be smaller and needs to rely on a software solution to help walk you through the process and stay  up to date. Do your research to help avoid a major sales tax audit that results in an imposed error rate that can cripple your business.

The following products are highlighted in the comparison chart created by Accounting Today:

  • Avalara – AvaTax
  • Bloomberg BNA – Premier State Tax Library
  • Wolters Kluwer – CCH Sales Tax Office
  • FedTax – TaxCloud
  • Thomson Reuters – ONESOURCE Indirect Tax
  • Vertex, Inc. – Vertex Indirect Tax O Series and VertexSMB Tax Central

As you compare products, keep in mind what would work best for you. Would you like the service available in the cloud, in-house or hosted? What software do you need this to integrate with? What does it have the capability of looking up? Can it provide you with tracking of non-profit exemption certificates? See the below chart for more in-depth information:

Chart provided by Accounting Today – February 2016 issue.

For the full article (pages 18-19) and more of the February issue of Accounting Today, visit http://mydigimag.rrd.com/publication/?i=289211#{“issue_id”:289211,”page”:0}

 

Other Blog Posts

Microsoft Surface – and More on Tablets

Microsoft Surface – and More on Tablets   A month into using my Microsoft Surface – a few conclusions, and an BIG thumbs up for getting one for business and

Sage 100 Payroll Resources

Below is a list of some helpful Sage 100 Payroll References. How to: Print or eFile W2/W3 forms in Sage 100 Print 1099 and 1096 Forms in Sage 100 Generate

The Slippery Slope of Sales Tax

Get firm footing with these 8 audit-ready best practices   Mitigating risk is a big part of running a business. It’s critical to protect the company against any disruption that could

WordPress Appliance - Powered by TurnKey Linux