Sales and Use Tax Accounting ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Sales and Use Tax Accounting discusses when to apply sales and use taxes to a transaction. This course addresses the calculation of these taxes, when exemptions may apply, how to remit tax receipts to the government, and how to present the related tax liability in the financial statements. Author Steven M. Bragg also covers many special situations such as dealing with over or under collections of sales taxes, private letter rulings, sales tax holidays, and how to deal with a sales tax audit.
Highlights
Sales and Use Tax Accounting. Sales Tax Nexus. The South Dakota vs Wayfair Case. Sales Tax Exceptions. Streamline Sales and Use Tax Agreement. Use Tax. Buying and Selling a Business. Sales Tax Audits. Additional Sales and Use Tax Topics.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Identify the methods used to remit sales taxes to a government. Note the different requirements for obtaining a sales tax license. Recognize the rules for how and when to charge sales tax. Recall the proper accounting to be used for all types of sales tax transactions. Note the proper presentation of sales tax liabilities in the financial statements. Identify the correct treatment of over- and under-collections of sales taxes. Recall the excuses that may be accepted for not submitting a sales tax return. Note the key characteristics of a private letter ruling. Recall how a multiple points of use certificate is to be used. Identify the situations in which use tax is to be paid.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00