CPAs and other tax professionals deal mostly with corporate and individual income tax issues. Often times sales tax isn’t addressed, either because the client “has it handled”, because the company is in a low taxability or net loss position for income tax, or simply because the company hasn’t considered the many sales tax ramifications of sending employees or third parties into a state, leasing property, etc. Once a client receives a notice from a state asserting nexus and retroactive taxes, the CPA might be in a defensive situation. We want to put you back on the offense!
This course will provide the basics of sales and use tax as well as the identification of common pitfalls, and current hot topics that will assist client service professionals identify areas of potential exposure and potential planning.
Some of the trickiest multistate challenges arise from the basics, so tax staff must understand the differences between the Quill physical presence standard and other types of attribution nexus and the ability to navigate state sales tax variations for online sales for multi-state businesses. Tax professionals must also understand the impact of the Streamlined Sales and Use Tax Agreement, the potential impact of the Marketplace Fairness Act, and key variations in major states sales tax structures. Only then, armed with this broad-based background, will firm personnel be prepared to speak knowledgeably to their clients about the state sales tax ramifications for their multi-state clients.
This webinar will provide suggestions for fine-tuning your company's sales and use tax compliance and planning in response to the latest developments affecting companies with multi-state presence, physical or online.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A. Upon completing this seminar, you will be current in sales and use tax treatment affecting multi-state clients and also when to consider partnering with a state tax consultant.
Current Landscape Following Quill
The Marketplace Fairness Act - Current situation – Potential
The differences between and nuances of voluntary disclosure agreements and amnesty programs
How to deal with a notice from the state; or an audit?
Sales tax for M&A transactions – how sales tax can derail a deal
Monika founded Miles Consulting Group in 2002. The firm focuses on multi-state tax consulting—helping clients navigate state tax issues such as sales tax and income tax in interstate commerce, including e-commerce. For instance, Monika works with technology clients answering questions such as “What are the sales tax ramifications of selling our new widget into the following 15 states?” Prior to forming the firm, Monika worked for over 11 years in Big 4 Public Accounting and 1 year in industry. Monika has provided such services as federal and state income/franchise tax compliance and consulting, sales/use tax consulting, audit support, and credits and incentives reviews. She has served clients in a variety of industries. Monika graduated from the University of Texas at El Paso (UTEP) with a BBA in Accounting/Finance and has a Masters in Taxation from San Jose State University. Her professional affiliations include the AICPA, CalCPA, Texas Society of CPAs, NAWBO-Silicon Valley, and the Accounting & Financial Women’s Alliance, where she has served in many capacities, including National President (2011/2012). Monika has served as a speaker for various organizations such as the AFWA, Financial Women’s Association - San Francisco, San Jose State University, The University of Texas at El Paso, and Beta Alpha Psi (regional and national conferences), as well as providing customized training for CPA firms and technical webinars. Monika is honored to be recognized nationally as one of the 25 Most Powerful Women in Accounting by CPA Practice Advisor from 2012 through 2015 and as a 2014 Woman of Influence by the Silicon Valley Business Journal. Monika’s passion is participating annually in fundraising for the American Cancer Society’s “Making Strides Against Breast Cancer.” She has volunteered for the event for 17 years (since its inception in the Bay Area), raising almost $200,000 during that time. Finally, in addition to multistate work, Monika recently launched her "Jumpstart Your Rainmaking" programs. Jumpstart helps professionals who sell their services put an actionable plan around building relationships which lead to business. Her mix of webinars, group training and coaching help create a plan for professionals at all levels.