What taxes did you just trigger?

Posted by B/P News & Notes on February 6, 2018 at 11:46 AM

Because Oregon has no sales tax, many businesses that we work with don't have to concern themselves with compliance in that particular area. But as you might have learned about from reading our recent free whitepaper on sales tax changes arriving in 2018, cross-state sales tax compliance is a growing issue for growing companies. You want to be as certain as you can that your day to day activities aren't provoking unseen tax obligations. Here's an on-demand webinar to further your awareness of taxes.

Read More

Topics: Taxes

Two 2018 Tax Law Changes: Elective and Required Withholdings

Posted by B/P News & Notes on January 30, 2018 at 12:56 PM

State and federal tax law changes are causing employees everywhere to stop and reconsider what they are seeing on their paychecks. Even if workers don't see any adjustments at all, it might be a good time to evaluate the amounts being deducted for accuracy. After all, nobody likes surprises during tax season, and next year's might be a doozy for those who don't align their withholdings to the correct expectations.

Read More

Topics: Taxes

Do new tax tables mean more money in my paycheck?

Posted by Christy Putnam on January 19, 2018 at 10:51 AM

President Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. Under the new law, the individual tax rate will be reduced to a maximum of 37%, which is down from 39.6% prior to the new bill being passed. The bill kept a seven-bracket tax structure, but the ranges have been adjusted to 10%, 12%, 22%, 24%, 32%, 35%, and 37%. These brackets are currently set to expire in 2025.

Read More

Topics: Human Capital Management, Taxes

What sales tax changes are arriving in 2018?

Posted by B/P News & Notes on January 16, 2018 at 3:22 PM

What sales tax changes are arriving in 2018If you're responsible for keeping your company compliant with its sales tax obligations, then you’re probably already exhausted as the new year starts. In 2017, we saw tens of thousands of sales tax changes (36,254, changes to be precise) occur across all the states in the nation. But that may just have been a precursor for what’s coming in 2018. Depending on what you sell and where you sell it, your organization may continue to see - and have to respond to - more big sales tax changes this year.

Read More

Topics: Taxes

What will trigger your next tax audit?

Posted by B/P News & Notes on January 11, 2018 at 9:51 AM

Did you know that wholesalers and distributors are in the top five most-audited industries?
State and local sales and use tax regulations can be complicated, and the rules are constantly shifting. Historically, this unintuitive taxability has caused certain industries to struggle with compliance and, hence, to fall into the sites of government auditors far more frequently than others. In the free whitepaper published by Peisner Johnson & Company together with Avalara, you’ll learn which industries are most as risk and where the majority of errors stem from.

Read More

Topics: Taxes

Three Sales Tax Triggers for Your Growing Software Company

Posted by B/P News & Notes on December 14, 2017 at 1:54 PM
Software sales tax can be a tough concept to wrap your head around.  Even tougher once you consider this:   Your sales tax obligations mirror your company. In other words, as you grow (new products, new staff, new locations), your sales tax triggers  and hence your obligations  grow, too. 

At this very moment, your business may be engaging in activities that create nexus — the obligation to collect and remit sales tax in a state. In fact, the 2017 Avalara Sales Tax Survey for Software Companies found that high-growth software companies trigger, on average, nine new sales tax obligations each year. 

Let’s look at the three most common triggers identified in the survey and why they may warrant taking another look at nexus.

Read More

Topics: Taxes

How you take your coffee may affect its taxability

Posted by B/P News & Notes on October 16, 2017 at 2:02 PM

When researching our favorite beverage for National and International Coffee Days (Sept. 29 and Oct. 1), we discovered that coffee hyped up goats in ninth century Ethiopia and was dubbed a “bitter invention of Satan” by 17th century Christian Italians. Unexpected. Still, the history of coffee surprises us quite a bit less than the taxability of coffee drinks in several states.

It sometimes seems that there are as many ways to tax coffee as there are varieties of coffee drinks — and anyone who’s been to a Starbucks will recognize just how much that is. Taxability can be affected by the temperature of the coffee and whether it’s consumed on premises or sold to go. It can depend on the percentage of taxable food sales made by the seller and if the coffee is sold separately or as part of a combination. In fact, even the sweetness of coffee can affect taxability.

Curious? Grab a cup of the tasty brew and read on.

Read More

Topics: Taxes

The Truth behind Sales Tax Audits

Posted by B/P News & Notes on October 4, 2017 at 10:08 AM

With myriad responsibilities involved in running a successful business, it should come as no surprise that preparing for a sales and use tax audit is not exactly a high priority - much less a favorite topic of conversation - among business owners. There are only so many hours in a day, and many companies opt to shift an examination of their compliance process to the back burner; at worst, the idea is ignored entirely. Even business owners who are ready and willing to tackle the issue rarely know where to begin. But a sales and use tax audit doesn’t have to be a specter that looms in the mind of every well-intentioned businessperson. Familiarity with one’s compliance process as it relates to industry-specific audit risk can make all the difference in the world.

Read More

Topics: Taxes

Subscribe to B/P Impressions

Impressive Impressions

a blog that is also a resource for businesses

Bennett/Porter's Impressions blog provides sensible insight into the places where technology and business intersect. Yet beyond practical reflections, you'll find actual resources to help keep your business operations optimized. These resources include:

  • critical announcements about the ERP systems we support
  • efficient strategies for network management
  • tips and tricks on using business software
So read on, and get the inside track from the Pacific Northwest's premier experts in ERP software and Managed IT & Cloud Hosting services.

Recent Posts