Introducing the Practice Development Webinar Series 2021
There’s never been a better time to offer sales and use tax services at your firm. With the ever-shifting landscape of sales tax, your clients are looking for professional guidance and a trusted resource to help them navigate the complex landscape. The new economic nexus standard established by the landmark South Dakota v. Wayfair decision—coupled with an ever-expanding remote workforce—exponentially increased the number of tax jurisdictions that small and medium-sized businesses are required to navigate. As a result, every firm needs to know about sales tax—even firms domiciled in states with no sales tax.
Using LumaTax, firms can easily launch a top-tier sales and use tax practice that is effective, scalable and profitable. Make sure your firm is up to speed on the latest regulations and best practices at the Practice Development Series, a 6-part webinar series created to guide accountants and firm stakeholders as they build out a sales and use tax advisory service line.
The Practice Development Series is designed to help CPA firms develop a more robust sales and use tax advisory service line through practical applications, best practices, and tools.
Attend all or part of the series to ensure your firm is on the right path when it comes to sales tax, so you can continue to deliver services of the highest quality to your clients.
Want to familiarize yourself with the LumaTax approach to each topic before watching the webinars? Download the white paper from LumaTax and Boomer Consulting:
Practice Development Series, Fall 2021:
- October 6: Building Wayfair into your CPA Practice
The Wayfair case changed e-commerce forever—it’s time for firms to step up and support their clients from an informed perspective. This ruling enabled economic nexus and affects ALL remote sellers as well as physical brick-and-mortar shops. Most of your clients have no idea what it is or why it matters when it comes to the ways they are running their business. This session is an introduction to building out a sales tax advisory service line at your firm, so you can best advise clients on how their products and services are taxed in all the states in which they are sold, and create a system that tracks this activity.
- October 13: Nexus Review and Analysis
Everything begins with nexus. Most of your clients have no idea what nexus is, or why it matters when it comes to the impact on running their business. Now is the perfect time to let your clients know about big changes in sales tax nexus and how it affects them. We’ve got you covered.
- October 20: Registrations
Sales tax compliance isn’t necessarily straightforward—there are numerous ways to approach it. Most of your clients will have some form of exposure that you’ve discovered while doing the nexus review. Those with high degrees of exposure deserve a proactive outreach to reduce risk, and the next logical step is registrations. This session will cover the ins and outs of compliance and registrations.
- October 27: Voluntary Disclosure Agreements (VDAs)
Voluntary Disclosure Agreements are a key tool for firms to leverage to reduce risk and liability for their clients. VDA’s provide an excellent solution for your clients with pre-Wayfair or untimely post-Wayfair exposure to get ahead of enforcement initiatives that are bound to happen. If you’re a firm with clients expanding their online offerings, it’s time to get up to speed on VDAs.
- November 3: Product Taxability
Determining the taxability of products or services is one of the more intricate and time-consuming parts of tax compliance. Ensuring products are accurately classified is critical to achieving tax compliance and makes sure certain businesses aren’t over or undercharging taxes on transactions. Learn how leading firms incorporate product taxability as a part of their Sales and Use Tax advisory services.
- November 10: Tax Technology
How can you make sure you’re choosing the right software for your application? When it comes to sales tax, the technology is rapidly evolving. It’s important for firms to keep abreast and take full advantage of the tools available.
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