Sales Tax Audits and Sales Tax Audit Defense

Sales tax audit

Sales tax audits are on the rise in most states.  This is due to budget shortfalls of states across the country.  In fact, state auditors are much more aggressive than the auditors at the IRS.  The state has the power to do massive damage to a business as a result of a sales tax audit, […]

Trust Fund Recovery Penalty

trust fund recovery penalty

The Trust Fund Recovery Penalty is a very severe set of rules that are meant to encourage voluntary compliance with our payroll tax laws. Payroll taxes includes the income tax and Federal Insurance Contributions Act (“FICA”) taxes that are withheld from every employee’s paycheck.  It also includes the employer portion of FICA.  The business pays […]

Georgia Sales Tax

Georgia sales tax

How The Georgia Sales Tax Affects Your Business Sales tax is an important part of doing business in Georgia.  Sales tax impacts retailers in the state, as well as businesses selling online or remotely from out of state to customers in Georgia. Georgia sales taxes represents a significant tax compliance burden for many businesses, with […]

Georgia Sales Tax Exemption Extended

GA non-profits exempt from sales tax

Are 501(c)(3) Non-Profit Organizations Exempt from Sales Tax in Georgia? Non-profit 501(c)(3) organizations that are exempt from federal taxation are not necessarily exempt from sales tax in Georgia.  Only non-profits that fit into a specific exemption category are allowed to enjoy an exemption from the Georgia sales tax. Georgia Sales Tax Exemption Churches, religious, charitable, […]

Compensation: How Much to Pay Yourself

reasonable compensation for S corporation owners

Maximizing Tax Savings for Entrepreneurs: Understanding Reasonable Compensation for LLCs and S Corporations Chances are you’ve seen something online about the potential tax savings of switching from an LLC to an S Corporation. However, most of these articles and videos gloss over the most important input of this decision – how much to pay yourself.  […]