Sales Tax Resolutions
America’s most popular New Year’s resolution year after year is to lose weight—and year after year people fail to achieve this goal. While we could urge you not to let that be the case with your sales tax resolutions, the fact is that very few people make sales tax resolutions! Sales tax isn’t as exciting as looking great in a new outfit, we suspect. This year, take the road less traveled and make some resolutions for sales tax management. Your business and your stress levels will benefit.
1. Never miss a sales tax filing deadline.
If you’ve missed one or two in the past, you’ve got room for improvement. It doesn’t makes you a bad sales tax manager—sometimes things come up that prevent meeting deadlines—but missing them isn’t very good for your business, and having to scramble to avoid missing them isn’t good for your stress levels. If you have trouble meeting sales tax filing deadlines, look at the reasons behind it and try to sort out those problems. If sales tax filing takes hours and that’s why you’re always behind, it might be time for automation. Sales Tax DataLINK provides a calendar that helps keep you up to date, no matter how many jurisdictions you deal with.
2. Always charge the correct rate.
Charging the correct rate can be a challenge, but making a sincere effort to always charge the correct rate will make sure your business is as safe as possible. Rate and rules change often so keeping up with rules is important to always charging the correct rate. Once again, automation is your friend here. SalesTaxDataLINK makes sure you’re charging the correct rate, and you don’t have to scour the headlines to keep up.
3. Routinely self-audit your past sales tax filings.
Although some sales tax mavens say it is impossible to do, auditing should be part of your routine. The truth is that you have a lot of things to do for sales tax management and even more if you wear multiple hats at your company. But using the right tools makes auditing possible. Don’t let it go by the wayside this year just because you think it’s impractical. You’re missing out on fixing problems and taking care of your business — and in some cases you might be finding hundreds or thousands of dollars for your company. Auditing helps you capture over and underpayments in sales tax and resolve them before they turn into a big problem. You owe it to your business to make auditing a reality.
If you’re unsure you can accomplish all of these sales tax management resolutions, contact us. We can get you on track for 2014.
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