Sales Tax Preparation
We’re here to eliminate the stress of preparing your sales tax, falling behind, and staying compliant.
Our sales tax professionals at Godbold & Romanov CPAs can:
- Guarantee on-time and in-full tax filing and payment
- Calculate, collect, and refund state sales tax
- Provide assistance and continuous tech support, with daily sales and tax report emails
- Check in online to review tax info, payment confirmations, and daily sales
- Save sales tax reports, returns, and historical data
The process of staying sales tax compliant through timely, proper preparing and filing involves:
Gathering the sales tax data, by researching sources like the sales journal, accounts payable journal, fixed assets ledgers, and more.
Evaluate and reconcile the data, by considering the sales tax collected, the use tax accrued, and the sales tax collected versus the tax due.
Input the data and information into the tax forms, which includes a review of the tax returns to understand what is required and how it should be presented, such as sales versus seller’s use, rental/lease, telecommunications, and other special tax types.
File and pay on deadline according to your taxing jurisdiction, commonly on the 15th, 20th, 25th and end of the month.
Confirm that the payment was received and processed by the state’s Department of Revenue.
Create a tax calendar spreadsheet to track important filing information, such as due dates, the tax due, who prepared the return, filing method, date filed, and the filing and payment confirmation numbers.
Respond to notices from tax authorities promptly if any errors occur by providing all the necessary documentation, then tracking until the problem has been resolved.
If you would like to sit down with us to discuss how we can help you with your tax and accounting needs, contact us for a free consultation.