UPDATE! The Comptroller's Office is still OPEN... and they are HELPING!  (The Comptroller is FULLY Operational...This data is HISTORICAL)

Here's some news you can use! 

The following information is broken down by taxpayer situation in Texas.  Refer to the state taxing authority in all governing states.  States have different policies.

UPDATE: Until further notice, if your audit package is dated March 26, 2020 or later, the Comptroller's office is tolling the period to request a hearing if you don't agree with your audit result.  They will send notification when they reestablish the 60-day deadline to request a hearing and once we receive this notice, we will again update this post.  Be sure you are subscribed to our blog so you receive notification when this change has been made.

The Comptroller's Office is OPEN... but they are trying to HELP!

Here's some news you can use! 

The following information is broken down by taxpayer situation in Texas.  Refer to the state taxing authority in all governing states.  States have different policies.

UPDATE:  Corporate tax returns were NOT due Monday!

  UPDATE:  The deadline is April 15, 2020.  Businesses may request a six-month extension by filing Form 7004 and submitting a deposit for taxes owed.  Work with your tax filer to determine your best options.

I know that you are wondering if you have the right blog.  You do!  Nothing has changed.  We do not help people with federal income tax or franchise tax matters.  Both filings do impact sales and use tax matters.  Here's how:

I Don't Know!.. Year-End and Adjusting Journal Entries and Sales Tax

 At the end of year, everyone closes the books.  Your accountant goes over the records, you explain unusual transactions, and you enter year-end and adjusting journal entries.  Everything is great and you're ready to go.  Right?!  Wrong!...very wrong!

Your company is (FINALLY) growing FAST!

We all go to work to make our lives and the lives of our families better.  It feels so good to know that you are accomplishing that goal.  If your goal is to expand your business by  working in a different state or territory, there are few things you need to think about. 

Kudos!  Your Business is Growing... Avoid these TRAPS!

Congratulations! I LOVE to hear that anyone’s hard work is translating into more money.  After getting off the initial happiness high of hearing this, I go into protection mode.  What’s protection mode?  If we have ever met, you know that I guard any progress like a hawk!  I want you to keep, grow, and enjoy the fruits of your labor. 

Call a Thing a Thing! Clear Concise Invoices & Contracts are the Goal.

 

Sometimes it seems as if we live in a world where everyone is just trying to skate by instead of striving for the best. Excellent service is rare and “okay” service is the norm. Using fillers like “um” and “you know” takes the place of concise speech. Ambiguity is valued, while being precise isn’t. While that may be okay when you are ordering a chalupa, it isn’t okay when you are dealing with sales tax.

Show me the money! Say your price LOUD and PROUD!!!

People talk about clients that don’t want to pay them. The client pays too slow or raises a stink about the bill. There are several ways to deal with it. I find that an ounce of prevention is worth a pound of cure.

When people call, I tell them my prices up front. When I estimate how much time a project is going to take, I make a reasonable guess based on past jobs and then multiply the estimate by two and provide a range of prices.

4 Red Flags: I’d Rather Eat a Dirt Sandwich than Become Involved

Hindsight is 20-20.  Over the course of my career, I have regretted accepting select engagements.  The interesting thing is a voice in my head always told me to “run!” I listen now after much aggravation and loss of time and money.  

Be EXCELLENT to YOURSELF: Are You Waiting To Have Fun? Why?!

be-excellent-to-yourself-1.jpgToday I decided to take a fun break.  There is always something to do.  Let’s take a siesta for a moment.

Bye Felicia

bye-felicia.jpgMost of us have a client that we love. Your contact is wonderful. They pay on time. The volume of business is spectacular. You are living large!

Then it happens. Your client merges with or is bought by another company. Your contact is  replaced by someone who sends email at 2:00am and is enraged that you dare to sleep. The person who employs your company has been replaced with someone who decides to limit or discontinue your contract. Or the client decides they are not going to use your services and they are not going to pay you the “substantial” amount that they currently owe you.

New Year, Better Informed You

Every new year brings resolutions and ideas about how we can all make our lives better.  From exercising five times a week, skipping the glazed doughnuts to quitting smoking, we all have been there when it comes to personal and professional goals.

My Blog Posts Are BORING!!

Okay...I got a call from my marketing guru who told me that my blog posts are BORING.  They tell good information if you can stay up long enough to read them.  Ouch!

“The content of this website is intended to convey general information only and does not represent accounting, tax or legal advice or opinion. Because tax laws, policies, and applications are dynamic and fact-specific, please consult with a state tax professional for a complete analysis of law as it may apply to your specific situation at a particular time. If you require an in-depth review of a specific fact situation, please contact our offices to establish a client relationship for opinion and advice.”