Sales tax is a tax imposed on retail transactions on tangible personal property. In some states however, services can have sales tax applied as well. Use tax is a tax that is applied to tangible personal property that is used, consumed or stored in that state. Many regulation and laws revolve around the sales and use taxes being imposed. How does a professional stay up-to-date on all these state sales and use tax regulations?
Sales and use tax laws and regulations can be confusing. No matter what your industry, however, you need to understand these tax laws and stay fully compliant to avoid legal battles and penalties. Proper sales and use tax training can help you:
- Avoid some of the common mistakes professionals and organizations make with sales and use taxes
- Learn requirements for sales and use tax in the jurisdictions where you have tax liability
- Prepare you for audits
- Make you current with changes made to sales and use tax
- Maximize tax savings and exemptions as well as deductions
- Learn how to maintain good and efficient tax records
- Learn best practices
- Understand how your industry and accounting techniques may need to be modified to make you compliant with current sales and use tax regulations
Online Sales and Use Tax Training From Lorman Education Services
Lorman Education Services sales and use tax training can help you learn how to protect your company from expensive penalties, tax investigations and legal backlash. Trying to determine the current rules for sales and use tax yourself is daunting. Not only do the rules change often, but they are also written in complex language that can be difficult for even seasoned financial professionals to fully comprehend.
With Lorman Education Services training, you get practical and actionable knowledge about sales and use tax you can put to use right away. Even if you don’t have financial training as an executive or a small-business leader, you'll get the sales and use tax training you need to make better decisions for your business in order to avoid liability and problems. You'll gain the confidence and knowledge you need to deal with laws and make sure your organization is audit-ready. In addition, you will learn how to streamline your tax record-keeping and how to avoid making common mistakes that could cause problems for you down the line.
Sales and use tax rules are complex, and you need proper training because your bottom line and your company reputation are at stake. Whether you are a business owner, executive, manager, legal professional, accountant or other professional, a basic or more thorough understanding of sales and use tax helps expand your career opportunities and ensures your organization isn't overpaying or underpaying tax obligations. With this type of training, you can be in a better position to fully support your organization in making the right tax decisions.
Buy a Lorman All-Access Pass or access to individual training now. You'll increase your knowledge of sales and use tax and the current climate in business. You'll learn the definitions you must know, as well as which time transactions are taxable and how you can take advantage of tax deductions and breaks. You'll learn about penalties and how to avoid them as well as third-party delivery charges. Lorman Education Services lets you choose the resources and training that is most valuable and pertinent to you, allowing you to fashion your training to reflect your needs right now.