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While several tax packages out there, such as Avalara and Vertex, can automatically monitor each state's tax rates and apply to each of your transactions, these packages rely on your data and accounting to determine your tax obligations. If you are not accounting for your product costs appropriately, you might be leaving millions of dollars on the table. You could save this money through tax recovery if you conducted a refund review.
In today's episode, we have our guest, Jason Parr, who discusses the nuances of tax recovery of your purchases and why periodic refund review is crucial. He also touches on tax laws of different states and where you might have the opportunity to recover some of the taxes that you may be overpaying. Finally, he compares the sales and purchases side of tax obligations and any opportunities available through strategic planning of your facilities and warehouses.
For more information on growth strategies for SMBs using ERP and digital transformation, visit our community at wbs.rocks or elevatiq.com. To ensure that you never miss an episode of the WBS podcast, subscribe on your favorite podcasting platform.
WBSRocks: Business Growth with Enterprise Software and Digital Transformation