JUMPSTART SALES TAX DIGITAL GOODIE BAG. Thanks to our Sponsors: Sales Tax Jumpstart: Exclusive Half-Off Consultation Offer... 2

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1 SALES TAX JUMPSTART DIGITAL GOODIE BAG Sales Tax Jumpstart: Exclusive Half-Off Consultation Offer Basics of Sales & Use Tax: Discount for Jumpstart Students YETTER Tax: Consulting Services Information Sovos: Company Information R&M Consulting: Indirect Tax Consulting Services CCH: Special Offers for CCH Publications Thanks to our Sponsors: COMPLIANCE AUTOMATION ADMIN

2 SALES TAX JUMPSTART Compliance, Administration, and Automation Post-Wayfair Enhance your training with extra one-on-one help from Diane at HALF-OFF the regular consultation rate Jumpstart participants will get an exclusive half-off oneon-one consultation rate with Diane if the consulation is booked by May 14, Discounted rate is $250 for a 1-hour sales tax consulting phone appointment with Diane. Before your call, you will be asked to provide a list of your questions and/ or a summary of the situation you need help with in your meeting. Diane will review what you provide and prepare an analysis and recommended next steps. To book your consultation, visit: BOOK TODAY > COMPLIANCE AUTOMATION ADMIN

3 Continue your sales tax education: BASICS OF SALES & USE TAX June 19-21, 2019 Chicago, IL $150 off at checkout for Jumpstart participants with code: jsgrad In-person training course taught by top professionals in the industry Mixture of lecture, case studies, and group discussions Focused on the practical application of sales and use tax concepts, so you can apply what you learn to your job right away Basics will help you be faster at decision making, improve your accuracy, and allow you to make more strategic sales tax recommendations with confidence Opportunities to make meaningful connections with classmates and faculty members LEARN MORE >

4 DIANE L. YETTER At YETTER Tax, we are not just about sales tax law and compliance, we re about helping your business thrive. YETTER Tax has been providing sales tax technology and consulting services for over 20 years. We know that one-size-fits-all doesn t work with sales and use tax as each situation is unique and different. That s why we provide the sales and use tax solutions that work with all aspects of your company from operations, customer relations, and your business philosophy. YETTER Tax has helped hundreds of companies reduce liability, implement processes, and come into compliance, from Fortune 10 to small, family-owned companies. From small to large consulting projects, we are dedicated to helping our clients tackle any sales and use tax situation they encounter. Diane Yetter is one of Accounting Today s 100 Most Influential People in Accounting for 2011, 2012, 2017, and I ve worked in the tax field for more than 30 years and I ve worked with many consultants over the years. Diane is rare. She s an embedded part of our team who is respected and admired by all - right up to most senior level management in our company. I can t imagine not having her involved. Wendy Mancini, 14 West Partnering with YETTER Tax allows you to:» Save money and costs (sometimes in the hundreds of thousands a year) whether it is by implementing more efficient workflows, helping you mitigate exposure, negotiating assessments on your behalf or a combination of these services.» Minimize risk so you sleep better at night knowing that your company is ready for any audit that comes.» Focus on strategically growing your business rather than spending time and effort on sales tax compliance» Gain the knowledge and tools to resolve and manage complex sales tax situations Call or diane@yettertax.com to talk through your questions and needs in a complimentary consultation. We ve worked with Diane and her team on a number of projects from tax to tax technology. Her team can provide assistance with so many different things related to sales/use tax. They are creative and have helped us automate manual processes. In addition, Diane s expertise with the City of Chicago personal property lease transaction tax helped us navigate tricky taxability issues in a difficult service industry. Her unique combination of project management abilities, tax accounting talents and tax technology skills makes her an outstanding expert in the field. Brenda Cassas, Acxiom Connect with me on LinkedIn or

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6 Indirect Tax Consulting Services

7 Indirect Tax Services Indirect Tax Updates 2018 was a busy year in sales tax and 2019 is expected to be just as busy. States are still responding to the United States Supreme Court South Dakota vs. Wayfair decision from June The decision has changed the sales and use tax landscape and it will take months, if not years, to fully play out. The R&M compliance team continues to grow in resources. Discover how R&M can help with your business needs. We make it simple! R&M Indirect Rate Services Monthly updated rate files: R&M offers a monthly rate change file available in delimited text format. The file will be ed to you one day prior to month end. The rate file will include city, county, state, zip, new total sales & use tax rate, prior rates, differences and the breakout detail. If your current company ERP system requires you to upload rate tables or manually track sales tax changes, this table can help manage these changes timely. Tax Rates: A single zip code can be linked to several rates. R&M can provide accurate rate lookups to determine the correct rates are still being applied. 1

8 Indirect Tax Services OTHER SERVICES OFFERED Sales and use tax outsourcing (more information about this service on the following page) Sales and use tax research on compliance topics including nexus and amnesty Sales and use tax audit assistance Monthly update of the new sales tax rules for remote sellers Canadian VAT tax compliance Indirect tax process review: R&M can complete a detailed review of a companies overall sales and use tax process and deliver feedback on possible areas of exposure, efficiency, and areas of improvement Registrations: In 2018, R&M completed over 1,000 Sales & Use tax applications for customers. Most of these registrations were in response to the Wayfair decision Exemption certificates: Assisting clients on updating and maintaining exemption certificates On site assistance: Our consultants can work on site to assist with additional sales tax needs outside of compliance Consumers use tax review: Assisting companies in reviewing non-resale purchase invoices and assessing use tax when required. Address validation 2

9 Sales & Use Tax Outsourcing OUR SERVICE INCLUDES Preparing and reviewing returns at the R&M office using our software (Vertex) Setting up a joint escrow account which we will use to make all payments Signing returns as Authorized Agent Mailing returns (using certificate of mailing) Filing/paying returns via EDI/EFT or writing checks Posting returns and supporting worksheets to Outlook shared folders Bank reconciliation Journal entries (if needed) Sales tax account reconciliations Handling notices and maintaining notice log 3

10 Sales & Use Tax Outsourcing HOW WE ARE DIFFERENT Meetings: Weekly internal sales tax team meetings held to review compliance updates and statutory changes. Notices: All incoming notices are reviewed and handled by tax preparer within a day of receipt. The sales tax team also keeps each other informed of common issues and best practices on notice issues. Best Practices: Internal procedures are in place for all clients outlining the whole compliance process. Check Lists: Internal check lists of all tasks are signed off on and reviewed by the tax team leader. Data Flexibility: Ability to work with sales tax data in any electronic format. Have never asked clients to change format of their data or reports, we customize our solution based on data received. Account Set Up: Dedicated joint escrow accounts are set up for each client. Funds are never comingled with other clients. Escrow Account Supported by R&M Line of Credit: Ensures payments are not rejected as a result of delayed client funding. Banking: Separate bank escrow accounts closely monitored and reconciled by the tax preparer on a monthly basis so they are aware of all account activity. Any variance is reviewed by the team leader and signed off by the partner. Stability: Clients are not rotated across multiple preparers. Daily Monitoring of Tax Payments: Bank transactions are matched against scheduled tax payments daily to ensure timely processing by states. Synching the bank account daily allows R&M to proactively resolve issues which minimizes notices. Tax Return Files: We not only provide electronic copies of all tax returns completed, but also rename the file so returns are easily referenced. Bank Reconciliations: Clients are provided a bank reconciliation monthly to provide a complete accounting of funds dispersed. Local Professionals: As all R&M professionals are based out of our Chicago office, we are available to work or attend meetings onsite with minimal notice. Client Reports: Client specific reports from Vertex Returns are available to the client upon request. Payments: Nothing is outsourced to a third party, including payments and notices. All compliance tasks are completed internally at R&M. WBE: R&M is a certified Women Business Enterprise by the City of Chicago and State of Illinois. SOC 1 Compliant: R&M s sales tax practice gets independently audited on a yearly basis. The attestation on our sound internal controls facilitates Sarbanes-Oxley audits performed by external or internal audit. 4

11 Sales & Use Tax Outsourcing WE ARE LARGE ENOUGH TO As a boutique consulting firm we provide our clients with both small and large firm benefits WE ARE SMALL ENOUGH TO Perform tax research and monitor tax law updates/changes using Checkpoint. Process returns using Vertex. Cross train a team of individuals to ensure timely filings when work load increases and to cover vacation schedules. Enable clients to have online access to the sales tax returns and corresponding records via a secured connection. Deposit refund checks into a client escrow account immediately upon receipt via electronic/remote deposit: Check 21. Have an expertise and appreciation beyond sales and use tax compliance including: ˑ Federal, State and International Income Tax Compliance ˑ Tax Provision/FAS 109 ˑ Federal, State & Local and International Audit Assistance Assign experienced engagement managers who will respond to requests and questions immediately. Provide focused and pro-active attention to the account and adopt client standard procedures as required. Be available to work or attend meetings onsite with minimal notice. Respond to improvement suggestions and establish customized solutions quickly. Sort mail and respond to notices daily, if needed. Have consultants with at least 5 years of tax experience and generally a CPA, MST and/or MBA designation preparing the returns. R&M Consulting is a boutique consulting firm that provides tax and internal audit services to Chicago area companies 5

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13 When you have to be right Exclusively for Sales Tax Institute Attendees Tax & Accounting Special Offers on These Must-Have CCH Publications Multistate Corporate Tax Guide (2019) by Michael S. Schadewald Ph.D., CPA US Master Multistate Corporate Tax Guide (2019) CCH State Tax Law Editors Get quick, accurate insight into each state s Serves as a handy desktop reference positioning on a number of key issues in containing concise explanations on major corporate taxation and sales and use tax. corporate tax issues that are readily accessible and easy to understand. PAGES: 2200 PUB. DATE: Feb MATERIAL ID: PRICE: $ $ PAGES: 1600 PUB. DATE: Oct MATERIAL ID: PRICE: $ $ % off 25% off Sales and Use Tax Answer Book (2019) by Bruce M. Nelson CPA, M.A., B.A.; James T. Collins, JD and John C. Healy MST, CPA, CGMA Provides extensive citation to important case and statutory laws, including varying rates, changing jurisdictional boundaries, different tax bases and more. US Master Sales and Use Tax Guide (2018) CCH Tax Law Editors Navigate state tax differences and complete income tax returns with ease. Includes a state-by-state discussion of major tax topics. PAGES: 594 PUB. DATE: Nov MATERIAL ID: PRICE: $ $ % off PAGES: 1,328 PUB. DATE: May 2018 MATERIAL ID: PRICE: $ $ % off State Tax Handbook (2019) CCH Tax Law Editors Get up-to-date state tax information reflecting all state legislative activities affecting corporate and personal income taxes and sales and use tax. US Master Property Tax Guide (2019) CCH Tax Law Editors Provides an overview of the property tax and valuation assessment methods used by the different taxing jurisdictions, and provides readers with the key definitions, concepts and procedures to understand the application of local property taxes. PAGES: 696 PUB. DATE: Dec MATERIAL ID: PRICE: $ $ PAGES: 768 PUB. DATE: Feb MATERIAL ID: PRICE: $ $ % off 25% off Drop Shipments: Taxation, Compliance and Planning (2012) by Diane L. Yetter A one-stop source to help sales and use tax professionals sift through the tangle of state rules related to multi-party drop-shipment transactions. PAGES: 280 PUB. DATE: Oct EBOOK: PRICE: $ $ For this title only visit 30% off ebook Only Visit or contact Association Account Manager, Tammy Nickels, at Tammy.Nickels@wolterskluwer.com or CCH Incorporated and its affiliates. All rights reserved.