Companies are facing increasingly complex transaction tax issues. Tax laws continue to change, and taxing jurisdictions are aggressively pursuing audits in an effort to cover their budget shortfalls. Having a tax consulting partner you can trust is essential. People who know the industry and can provide solid advice with proven strategies that apply to the transaction tax needs of your business. We are those partners. We create tax solutions for long-term success, not just short term fixes. With professional execution and diligent attention to detail you can have confidence your business is in good hands.
Transaction Tax Systems Implementation
Many businesses use third-party tax software to manage tax compliance, audits and reporting. With changing tax laws and complex reporting requirements the peace of mind gained from using this software can be a valuable asset. It can reduce risks associated with incorrect tax calculation, eliminate improper reporting and provide notification of inaccurate compliance. Whether you’re implementing new software or want to learn how to more effectively use your current system, we have the expertise and knowledge to ensure you’re getting the most value from your investment. From Vertex and Taxware to Thomson Reuters, we’re familiar with leading industry tax software platforms. We’ll help you analyze your system, data and reporting to be sure you’e utilizing the product to it’ full potential. Not sure which software is best for your business? We’ll help you examine all available options and select the one most beneficial for your industry and company requirements.
Our Tax Software Integration Specialties Include:
- Analysis of current business systems and opportunities for integration to improve efficiency
- Identification of company and technical requirements
- Functional and technical design
- System integration and user training
- Functional and technical training including support during solution transition
- Product taxability research
- Technical integration with online storefronts, billing, procurement, and asset/inventory movement systems
- Industry specific tax regulation compliance
- Customer database and integrity management including exemption certificate and address validation solutions
- Design and implementation of steady state processes required for seamless updates as business changes occur during use
- Project and change management
One of the biggest benefits of transaction tax systems is integration with current business processes so everything works together smoothly. This improves efficiency and ensures greater accuracy in tax reporting and payments. We have experience with all aspects of integration from various ERP systems to custom mergers with web-based storefronts and mainframe systems.
Some companies have unique business requirements that are unmet by available standard tax automation packages. DSTax is proficient in creating custom tools and middleware applications to bridge these gaps. Previously built applications include:
- Staging Databases that combine sales records from two separate source systems prior to feeding transaction to the tax engine.
- Research Tools that organize taxability treatment from multiple sources, allowing for greater analytical abilities and controls.
- Automated feeds from exemption certificate management system into unaffiliated tax engine so manual configuration of newly received exemption certificates is no longer necessary.
- Sophisticated web-based tax calendar for global retailer that provides tax return controls, budget forecasting, EDI file creation and other enhancements.
DSTax can provide creative solutions to streamline and strengthen your internal tax processes.
Business Case/ROI Analysis
Considering a new tax system implementation but uncertain if the project will yield a positive return on investment? We can help you build an objective business case to weigh savings opportunities (both monetary and process efficiency improvements) against estimated implementation costs (both internal and external).
An ROI analysis can be prepared at a minimal cost, allowing you to make an educated decision about the validity of investing your resources in a new tax system implementation.
Tax Software Evaluation & Selection
Navigating the software selection process can be challenging. DSTax can help you define an objective set of criteria upon which software options can be evaluated.
The complicated taxation landscape means it is vital to consider all aspects of tax laws as they relate to your company and your specific industry. In addition to meeting tax requirements there are other important factors to consider. Some of these include the ease with which a new system will integrate with your existing business systems, support for existing IT infrastructure standards and cost to benefit analysis.
We have extensive experience helping clients evaluate software options for transaction tax systems, exemption certificate management and address validation processes. We’ll help you make an accurate comparison and select the option that will best serve your business.
Tax Controversy and Consulting
Taxation can be a complicated framework. Navigating tax regulations armed with the knowledge and tools you need is important for the success of your business. Whether you need tax research for defending an audit, custom taxability grids suited to your particular industry or powerful databases to assist your executives with complicated financial decisions, we can help.
Departments of Revenue routinely conducts audits to ensure proper payment of state taxes. With budgets stretched tight, there is often pressure for auditors to be especially strict during the auditing process in order to generate more revenue. We understand the importance of a properly conducted and defended audit. We will help you document and defend your position, often resulting in a lower tax assessment.
For reasons ranging from an weak procurement processes to improperly calculated tax returns and unapplied tax exemptions, some companies find they’ve overpaid their state taxes. A reverse audit can be conducted by DSTax for the purpose of uncovering tax overpayments and revealing hidden refund opportunities.
Sometimes a review by DSTax of a company’s tax compliance procedures and reporting system reveals erroneous tax payments. When this occurs, we work with your management team to determine the proper course of action. A reverse audit can result in recovery of overpaid taxes.
If a reverse audit will be beneficial, we’ll work with you to uncover opportunities to obtain refunds from vendors and/or the state. Reverse audits are conducted on a contingency basis. We will not an issue an invoice until you have received the refund.
Another benefit is that we provide a Statement of Findings detailing guidance on how the client can prevent future overpayments.
Specialized Industry Solutions
No two industries are exactly alike and neither are their tax requirements. Working with tax consultants who have experience in a wide range of industries is important to ensure you’re receiving accurate information and recommendations.
DSTax understands the unique tax requirements of various industries including:
- Manufacturing – The taxability decisions on purchases for manufacturers are complex and multidimensional. Our “Taxability Cube” toolkit and taxability content significantly streamlines the implementation of procurement / use tax solutions for manufacturers.
- Construction Contracting – Implementing a tax determination solution for the construction contracting industry can be daunting. A best practices solution must address both customer invoicing and job costs for every transactional touch point. Our proven methodology and industry specific taxability content for the construction contracting industry can help you efficiently and successfully implement a sales and use tax solution.
- Healthcare Providers – While many states provide broad exemptions related to healthcare items, others do not. In these states the providers themselves frequently absorb the tax obligations, negatively impacting their bottom lines. DSTax helps these practices recoup their erroneously paid taxes so they can focus on patient care recommendations.