by Cortez NaPue @TheSocialMohawk

httpv://www.youtube.com/watch?v=JJwbev3w7-s

Haven’t heard of Avalara?  Well, I don’t see why not – they for sure were the most festive booth at Sage Summit, this year held at the Gaylord Hotel in Opryland.  Couldn’t miss the bright orange and Tiki-hut feel of their inviting trade show display.

This year, we were lucky enough again to interview Pat Falle of Avalara, and he exemplified why Avalara often stands out among the crowd.

You can also find out more about Avalara by visiting their website.

The post Sales Tax Pioneer Avalara Interview at Sage Summit 2012 appeared first on Think, The Blytheco Blog.

Orange.  That’s their color.  And sales tax – that’s their game.  The people at Avalara are passionate about what they do.  In fact, I’ve never seen a team so diligent and determined to come up with the latest innovations to calculate rates, manage exemption certificates, file forms and remit payments.  Avalara’s AvaTax let’s you do all of this plus reduces audit risk, all from the cloud.

AvaTax also provides seamless, transparent integration with 100+ existing ERP, accounting, ecommerce and Retail POS systems making it much easier for you to be sales tax compliant.

Best of all, the app allows you to get intelligent sales tax calculations in your own software.  AvaTax Calc integrates with your accounting or ecommerce software to deliver real-time sales tax calculations based on up-to-date sales and use tax rules. This includes sourcing rules, product taxability and jurisdiction assignment. Increased audit activity by taxing authorities demands businesses prove sales tax compliance through accurate calculations and reporting.  AvaTax Calc makes compliance simple with transaction history and on-demand reporting.

To find how out more on how to survive a sales tax audit, download our free whitepaper.  For the secret sign of Avalara and to find out more about them, watch the YouTube video below from last year’s Sage Summit.

http://www.youtube.com/watch?v=cmhdM5fX3YI

The post How to Survive a #SalesTax Audit with @Avalara [VIDEO] appeared first on Think, The Blytheco Blog.

Since the recession began, states across the country have been reaching far and wide to find ways to grow tax revenues, and a big target that many are finding is alcohol sales.

According to this New York Times article, twelve states have changed alcohol-related taxes and laws to bump up revenues. Here in Georgia, our state legislature has even cleared the way to allow local governments to let voters choose Sunday alcohol sales in retail outlets. We are one of three states with an archaic Sunday ban on retail liquor sales. One study predicts that this move could generate up to $4.8 million for the state.

Tennessee legislators passed a law that allows breweries to produce and sell “high-alcohol” beers, to encourage California-based craft brewer Sierra Nevada’s interest in expansion to East Tennessee. Tennessee is also among several states that have implemented “tasting laws,” which permit stores to host product tastings and encourage purchases through sampling.

Alcohol producers and marketers generally support these types of legislative changes that open up markets to them. Religious groups and public health organizations may not be as supportive, with claims that more access to alcohol means more health and public safety problems.

While it’s distressing that it took a major economic downtown to spur these changes, it’s a positive trend that new markets and new opportunities are opening up for businesses as a result of these legislative changes.  Expanding the opportunity for sales of any legal product means more jobs and more commerce in our country. Those who choose not to partake still have that option. Everyone’s happy.

The post States Raising Tax Revunues with Alcohol Sales appeared first on Think, The Blytheco Blog.

Efforts by the states to thoroughly exhaust all possible resources for potential sales tax revenue have begun to invade nonprofit space.  States are are tightening the definition of what and who qualify for exemptions.

A Washington State church recently found out the negative implications of being unaware of such changes. In 1997 Cascade Christian Center of Skagit Valley, a 509(c)(3) church, built Jungle Playland, a family entertainment center.  Proceeds from the center support the churches many programs to help the community.  However, new regulations passed in 1999 determined that money from Jungle Playland was considered by the state to be a money-raising business falling under the category of retailing – therefore subject to collecting and remitting sales tax.  The church was unaware of the changes and in 2008 underwent an audit which revealed that they owed $180,000 in sales tax.  Even though the state agreed to accept a lower amount of $58,000, it is still beyond the means of the church.  Unfortunately this also means that there is a negative impact on their ability to support their efforts to help the community.

The laws around 501(c)(3) nonprofits are just as complex as for profit businesses and also vary just as greatly from state to state.  Those laws and regulations are subject to change with the ever increasing needs of the states to bring in more revenue to attempt to cover their debts (which include services such as keeping more teachers in the classroom, more police officers on the streets just to name a few).

North Carolina, for example, takes a different approach with nonprofits – they offer NO upfront exemptions.  Instead, those organizations can apply to the Department of Revenue (DOR) to get reimbursed twice a year.  In recent years the DOR started to deny more and more reimbursements stating that they were more “civic” in nature than “charitable”.  To make things more complex – there really were no defining rules about what is civic vs. charitable.  Many organizations in North Carolina were finding out that just because they were exempt from state income tax and franchise tax did not necessarily mean they were “exempt” from sales and use tax where the term “charitable” was more narrowly (but not clearly) defined.

After a lawsuit was filed by North Carolina nonprofit Lynnwood Foundation for being denied reimbursement, subsequent attempts have been made to clarify the laws, but for many reasons this proves to be difficult.  The state has come to at least a temporary compromise to arbitrarily tie the determination of sales tax exemption to IRS National Taxonomy of Exempt Entities (NTEE) codes to help minimize the number of 501(c)(3) organizations that get denied reimbursement – but it also means that many of those organizations will still be required to collect and remit sales tax.  Since the NTEE codes are subject to change, so are the regulations around which organizations or certain activities within those organizations are exempt.  Again, making it more difficult for nonprofits to continually ensure that they are compliant with the sales and use tax regulations.

To cite yet another example, similar to North Carolina, California does not have a broad sales tax exemption for those organizations that are exempt from federal and state income tax.  Instead there is a complex set of rules, as there are with many states, around specific activities and/or specific types of products/services sold.

No matter what state your nonprofit resides in, it is important to know that the rules around “seemingly” exempt companies are becoming more complex and narrow when pertaining to sales tax and use tax.  A negative audit is detrimental to anyone, but can be even more so to nonprofit organizations who provide us with such valuable services.

Don’t let sales tax law changes affect your business negatively—To learn more about sales tax compliance and reducing audit risk, join our webinar “Sales Tax Audits Can Be Devastating! Are You at Risk?” on Wednesday, September 14th, at 10am PDT / 1pm EDT:

The post The Changing Tide: Is Your Nonprofit Exempt from Sales Tax? appeared first on Think, The Blytheco Blog.

Many companies, like yours, have been proactive in managing the risk of their business. You have selected a top of the line ERP/financial application, set up your business using best practices and have begun to build your business success. A rarely thought of area in business success is sales tax compliance. Sales and use tax management policies and procedures are sometimes an after-thought or assumed to be part of the process of accounting or credit management. As such, sometimes this part of a business’s workflow is neglected.

Why is sales tax compliance important? State audits are on the rise. Business activities that trigger audits include:

• inaccurate sales tax calculations
• sales tax returns that are not consistent with their industry
• returns that are often late or have errors
• higher volume of tax-exempt transactions or poor documentation of transactions

It’s time for businesses to be proactive in their sales tax management processes in order to reduce their audit risk and exposure. Fortunately, there is an easier way than manual labor and spreadsheets: automation using cloud-based services.

A pioneer in sales and use tax management solutions, Avalara’s AvaTax family of products ensures their customers:

• Have up-to-date tax rules and regulations and accurate rates applied to every transaction;
• Deliver quality customer exemption certificate management for tax-exempt customers; and
• File and remit sales and use tax returns in a timely fashion.

AvaTax integrates seamlessly into your selected Sage product to enable your transactions to be properly tracked and managed from within your ERP. Whether you do e-commerce, have retail store locations or sell at fairs and conventions, AvaTax is with you when you need it. The AvaTax service is a Service-as-a-Software (SaaS) that provides instant access to your information or calculations from practically anywhere.

To learn more about AvaTax, and sales tax compliance and audit risk, join us for this informational webinar on Wednesday, September 14^th, at 10am PT / 1pm ET: Sales Tax Audits Can Be Devastating! Are You At Risk? Register now. For a whitepaper on how to survive a sales tax audit, click here.

The post Sales Tax Compliance – Part of a Business’s Best Practices appeared first on Think, The Blytheco Blog.

Part 1 – Understanding Nexus

If my business does not have a building in that state or an employee living there, then we don’t have nexus there, right?  Wrong.  It is not quite so cut and dry.

First let’s look at the definition of nexus:

nex·us [ néksəss ]

1. connection: a connection or link associating two or more people or things

More specifically, the term nexus pertaining to tax law describes a situation in which a business has a “nexus” or physical presence in a state. Nexus determines whether a business is subject to collecting and remitting sales taxes for sales within that state.  Now, to define what constitutes “presence” – well that is not so easy.

Federal government decided it best (for the time being anyway) to allow each state to define the presence required for nexus.  It started out that most states defined nexus as to be an office, warehouse or employee living in that state.  Fast forward to the present and it gets pretty confusing. The lines have grayed over the years with the states in dire need of money.

States are broadening the definition of nexus. Some states are taking it as far as deciding that soliciting business in the state implies nexus. Having an affiliate in a particular state may cause you to have nexus in the state where the affiliate is located.  Even attendance at trade shows is coming into question as to whether that constitutes “presence” in the state where the trade show is held.  Here are some additional reasons nexus might be determined.

If you…

• Have your own delivery trucks that cross state lines to deliver product.
• Visit a customer in a particular state multiple times in a year.
• Consistently ship a product into the state–the product might be constituted as physical presence.

…you might have nexus. (I am feeling a “You Might Be A Redneck” joke coming on…but I digress)

Consider this example from Netflix:

“Despite our best efforts to convince them otherwise, state officials have determined that the Netflix Service is subject to sales tax in nearly every state. If an Internet business has a physical presence (in this case, rented DVDs) in a state, the business must collect use tax for products used in that state. Because the rented DVDs in customers’ homes are “owned” by Netflix, we in fact have a physical presence in the state and therefore must collect tax.”

With the highly advertised Amazon battles with a number of states, it is pretty much common knowledge that the states are looking for revenue-making opportunities using sales tax due to huge deficits.  Sales tax is the main source of revenue for states.  Identifying new ways to define nexus is one method states are using to bring in additional sales tax revenue. Each state is looking strongly at out-of-state companies doing business within their state, but who are not currently collecting and remitting the sales/use tax due.

Part 2 – How it affects your business

As mentioned earlier, states are looking to sales tax as a way to generate more revenue.  Translation – they will be looking for more companies that owe the state sales tax through nexus. Be sure that you do an internal review and know your nexus responsibilities― if left to the state to discover, it will likely be more painful.

If a state feels that you have nexus, but have not been remitting sales/use tax, you could get penalized for every year you have been doing business in that state.  There are, however, several states now that will grant you amnesty if you voluntarily disclose to them the details about your business in their state.  In those cases if it is determined that you do have nexus, they will put a limitation on the number of years they will go back on an audit. But voluntary disclosure is only available for 30-45 days during the year and is not offered every year in most states.

Part 3 – How To Protect Yourself

• Understand the rules of nexus in every state in which you do business.
• Maintain access to the most current rules, rates and regulations and any changes for each state.
• When a state redefines nexus, identify whether or not you have become liable for collecting and remitting state sales and use tax to jurisdictions where you previously did not have to.
• Reduce your exposure through automated processes and accurate documentation.

States are scrutinizing sales within their borders for a way to generate more revenue through sales and use tax collection, so be sure to do your homework and know what each states nexus rules are.

Join us for a webinar to learn the most effective way to protect your business from nexus schmexus complications:  “Become Best-In-Class by Automating Sales and Use Tax Compliance” on Thursday, July 7, 2011 10:00 am PDT.

The post Nexus Schmexus: Understanding Nexus appeared first on Think, The Blytheco Blog.

Sales tax is the largest source of income for state and local governments in the United States. Mixed reports tell us that revenue may be trending up this year, but it’s still far below 2008 and 2009 levels. States are struggling to fund programs and cover basic services, and the current political environment is unfriendly for tax increases. So where are states turning to increase their revenue? Sales tax collection enforcement. That means more audits.

The hardest hit companies are small to medium sized businesses (SMBs) who do not have an audit defense or process in place to prove accurate collecting and reporting. An SMB usually has a simpler tax portfolio than a larger corporation, making them less diversified and less able to handle negative audit results that include penalties and interest.

The OUCH of an audit includes:

• Overtime: Staff are pulled from other duties to help the auditor follow the trail to verify compliance.
• Underpayment Penalties and Interest: Penalties and interest are applied when underpayment is found. Even if you have brought your business into an improved compliance process recently, auditors rarely look at just the current or previous years—most auditors will pull 3-7 years’ worth of records to discern where accurate sales tax calculation and reporting is missing.
• Credit worthiness impairment: Negative audits can result in damaged credit worthiness. Many SMBs rely on credit lines to operate on a day-to-day basis and a disastrous audit can hurt a company’s cash flow.
• How your business is perceived: A company’s reputation can be damaged when customers or fellow business associates find that they have endured an audit with negative findings. Customers may be uncomfortable purchasing from a company found to not be collecting and remitting accurate sales taxes.

In addition to the damage a negative audit can cause, once a process is determined to be faulty, auditors may “lather, rinse, repeat” on a regular basis until a company proves they have a handle on their sales tax compliance processes and documentation.

Fortunately, technology today has enabled many SMBs to affordably manage their sales tax compliance without a lot of overhead costs. Automation provides a repeatable, documentable process of sales tax calculation and application that helps prevent being flagged for an audit due to poor processes or returns that are inconsistent with expectations for the industry.

In addition to helping to reduce audit exposure with a documented, consistent process, automation enables a company to quickly respond to auditor inquiries, which not only helps prevent an audit, but makes an audit much less painful by making answers easily available.

Take the OUCH out of your sales tax compliance! Join our webinar, “Become Best-In-Class by Automating Sales and Use Tax Compliance” on Thursday, July 7, 2011 10:00 am PDT and learn how to reduce your audit exposure and risk through automation!

The post The Ouch of Sales Tax Audits appeared first on Think, The Blytheco Blog.

The Wall Street Journal reports that Amazon.com has now “severed its affiliations with websites in Connecticut and Arkansas because of new state taxes on online purchases, retaliating against a measure that it opposed as unconstitutional and counterproductive.” These two states add to Amazon’s current enemy list that includes Illinois, New York, North Carolina and Rhode Island. California’s version of the law is making its way through the Assembly and Texas has been volleying its version back and forth from the Texas Legislature to the Governor and back again.

What is now becoming a flip flop argument and tug of war between online retailers and states isn’t a new argument. And not all large online retailers are against online sales tax.

In 2007, Federal legislation called the “Sales Tax Fairness and Simplification Act” [HR 3396] declared, “state and local tax systems should treat transactions involving goods and services, including telecommunications and electronic commerce, in a competitively neutral manner.”  The resolution further stipulated, “that a simplified sales and use tax system that treats all transactions in a competitively neutral manner will strengthen and preserve the sales and use tax as vital state and local revenue sources and preserve state fiscal sovereignty.”

In testimony for this legislation, JCPenney representatives stated: “We remit over $1.2 billion dollars in sales tax annually on our sales whether made through stores, catalog or online. Many of our online competitors do not collect, which gives them a competitive advantage. This is not because they are innovative or provide incremental value to the consumer, but because the states do not have the ability to require collection of a tax that is due from the consumer.” They went on to state that complexity of the system has caused the court to refuse to lay the burden on online retailers without a physical presence in the state.

HR 3396 identified the burden of cost to the seller can range from 2.17 percent to 13.47 percent of sales tax collected. This burden was cited as the justification for two Supreme Court decisions that “…prohibited a state from requiring an out-of-state seller from collecting sales tax on a purchase made by a resident of the state.”

The burden on sellers is also why states will generally provide discounts for timely remittance in order to provide some balance to the seller for being the state’s tax collector for sales tax. But managing the complexities of each state’s rules and regulations doesn’t have to be a nightmare.

Join our webinar, “Become Best-In-Class by Automating Sales and Use Tax Compliance” on Thursday, July 7, 2011 10:00 am PDT and learn how your business can benefit from affordable automation of your sales tax process.

The post Amazon Severs Ties in Connecticut and Arkansas after Tax Debacle appeared first on Think, The Blytheco Blog.

Here is what’s new in employment law across the nation…

1.  New Meaning of “File” – Savvy employers know that retaliation claims are on the rise in part because a motivated plaintiff may find that claim easier to establish than the underlying alleged statutory violation.  And if the employee’s complaint stems from the Fair Labor Standards Act (FLSA), the U.S. Supreme Court has made it even easier by holding that an oral complaint can support an FLSA retaliation claim.  The case involved a manufacturing and production worker in WI who claims he made multiple verbal complaints to his supervisor and to HR about the location of the time clock.  In his opinion, its position prevented employees from being “on the clock” while donning/doffing protective gear.

The employee received several warnings about failing to properly use the time clock prior to his suspension and then termination from employment.  He claimed the termination violated the FLSA’s anti-retaliation provision which states, in part, that employers are prohibited from “discharg[ing] or in any other manner discriminat[ing] against any employee because such employee has filed any complaint or instituted or caused to be instituted any proceeding under or related to [the FLSA].”  The district court (W.D. Wisc.) and appeals court (7^th Cir.) sided with the employer in their argument that “filed any complaint” means a written complaint, which the employee did not do.

The U.S. Supreme Court, however, looked to the dictionary, Congressional intent and the U.S. Dep’t of Labor’s interpretation in finding that the complaint need not be in writing to support a retaliation claim.   Kasten v. Saint-Gobain Performance Plastics Corp. (U.S. 3-11).  What they didn’t decide (because the issue was raised too late by the employer) is whether FLSA retaliation protection applies only when the employee complained to a government agency, or if it also applies when the complaint is made internally, to the employer.   This case provides another example of why it’s so important to train your managers and supervisors in the basics of employment law, and to revisit your HR procedures to provide a safety net against claims resting upon undocumented complaints.  I provide Supervisor’s Toolkit training that can be done in blocks over time or as a “get ‘er done” seminar, so let me know if I can help you.

2. Self-ish? – As a follow-up to last months’ LB4HR announcement that USCIS would launch an E-Verify self check service, the service was launched a few days later than planned (March 21 vs. March 18) and will initially be limited to individuals in AZ, ID, CO, MS, VA and DC.  The agency hopes to roll out the service, in blocks, and go nationwide in one year.

3.  Finally! – Final regulations implementing the ADA Amendments Act (“ADAAA”) of 2008 have arrived.  The law took effect January 1, 2009 and the new regs will take effect 60 days after publication in the Federal Register on March 25.  Commentators are generally relieved that the list of per se disabilities is gone but it’s been replaced with a list of conditions that should be “easily concluded to be disabilities” while emphasizing that individual assessment is still needed.

4.  Doggin’ it and Horsin’ Around – The portion of the ADA which deals with places of public accommodation has been amended to address concerns about what type of “service animals” must be allowed in, as an accommodation to a disabled individual.  For starters, animals which are intended only to provide emotional support are no longer considered service animals.  Further, the definition of a service animal is now limited to dogs that have been individually trained to do work that benefits the individual with a disability. Other animals no longer qualify except for miniature horses, in certain limited circumstances.  This change does not apply to the portion of the ADA which deals with employment, so check with legal counsel if you have concerns over an employee’s request to bring a small horse or other service animal to work.

5.  Take That! – In response to NLRB decisions that have generally displeased employers, the National Right to Work Act (S. 504) was filed in Congress on March 8.  If passed, the NRWA would prohibit union security agreements in collective bargain agreements, thereby making union membership and paying of dues a condition of employment for employees covered under the CBA.  The current hedge against union security agreements exists in 22 states which have passed “right to work” laws. If you’re not sure whether the states your business has employees in are right to work or not, go to www.nrtw.org. to find out.

H.R. 1047 was filed to protect those states which enacted amendments designed to ensure that union representation voting is done via secret ballot and not via a card check procedure.  This bill is the latest salvo in the battle between the states that have already passed such laws (i.e., AZ, SC, SD, UT) and the General Counsel of the NLRB, who has vowed to sue those states.  [Note:  There is a similar bill pending in the Texas legislature, H.B. 471].  And H.R. 972, if passed, would require use of secret ballots in all union representation elections.  To read full text and follow the progress of these bills, go to http://thomas.loc.gov.

6.  It’s No Joke – Think you can’t be held responsible when your employee is harassed by your customers’ employees? One employer thought so and disregarded a route driver/vending machine stocker’s complaints that yahoos at a hospital on his route assumed he was gay, made daily unwanted sexual comments, groped themselves and propositioned him.  He told several supervisors and a manager but his employer’s response was to the effect of “they’re not our employees” and “it’s a joke . . . don’t take it seriously.”

After the EEOC got involved, a settlement attempt (shift change) failed because it would interfere with the driver’s child care duties and cut his pay.  He quit and the EEOC sued.  The trial court felt the employer had insufficient notice and should not be liable, but the circuit court said they knew enough to be deemed to have actual or constructive notice of the harassment and failed to take any remedial action.  EEOC v. Cromer Food Services (4^th Cir. 3-11).

7.  Tax Tips – The IRS states that breast pumps and lactation supplies qualify as “medical care” under IRC sec. 213(d).  Amounts reimbursed for these expenses under an FSA, Archer MSA, HRA or HSA are not income  to the taxpayer.  The announcement is posted at www.irs.gov/irb/2011-09_IRB/ar11.html

8. It’s Not Fair – A recent $5.9 million settlement is a stark reminder that failure to follow the federal Fair Credit Report Act’s technical requirements can be a pain in the pocketbook.  Hunter et al v. First Transit, Inc. (N. D. Ill. 3-11).  For starters, do not be lulled into thinking that the law applies only to credit checks.  The FCRA comes into play whenever you use a third party to provide info you’ll use to determine an individual’s fitness for hire, advancement or other employment purposes. Then, make sure you are getting the info for an allowed purpose (e.g., employment) and that you’ve signed off on the necessary certifications with your info provider(s).

Next, be sure you provide your applicant or employee with a compliant notice form and get written authorization BEFORE you request that background check.  And if the ensuing report is used, in whole or in part, to deny the hire, advancement, etc., there is a two-step written notice process to follow before you rescind the offer or take other adverse employment action. The settlement in the aforementioned case arose out of failures to provide pre-check disclosure and post-check notices.

9.  Marriage Penalty – Under the FMLA, new parents who are married and work for the same employer are limited to taking 12 weeks of job-protected leave between them.  If, however, the new parents are not married, each can take 12 weeks of FMLA leave for the event.  Some states recognize and address this unintended consequence in their state FMLA clone laws.  For example, the CA Family Rights Act provides 12 weeks of leave (not 24) for new parents  employed by the same employer to bond with the baby, whether they are married or not.

10.  Stated Differently – Here are some morsels for you multi-state employers:

• California – Prospective plaintiffs who want to sue their employer under the CA Fair Employment and Housing Act have one year from the date the Right to Sue notice is issued by the CA Dep’t of Fair Employment and Housing, not one year from the date the notice is received.  The statute says the limitations period is “one year from the date of that notice” and the CA Court of Appeals decided that means the date the notice was mailed.  The date the aggrieved employee claims to have received the notice is not relevant.  Hall v. Goodwill Industries of Southern California (Cal. App. 4^th 3-11).
• Nebraska – Add the Cornhusker state to the list of those that have a law protecting the right of women to breastfeed in public and private locations. For a complete list of states with similar (and additional) protections, go to the La Leche League website atwww.llli.org/law/lawus.html.
• Pennsylvania (Philadelphia) – The Philadelphia Fair Practices Ordinance has been amended to add three new protected categories, mandate a workplace poster and beef up enforcement.  The new protected categories (i.e., genetic info, domestic or sexual abuse victim status and familial status) add on to the current list which includes race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability and marital status.  The familial status category is extraordinarily broad, to include  the individual’s spouse, life partner, parents, grandparents, siblings, in-laws, children, grandchildren, nieces and nephews, including those obtained via adoption or other dependent or custodial relationships.  The expanded ordinance takes effect June 22, 2011 and a copy can be obtained at www.phila.gov/humanrelations/.

Legal Briefs for HR is provided to alert our readers to new developments in the law and with the understanding that it is guidance and not a legal or professional opinion on specific facts or matters.  For answers to your specific questions, please consult with counsel.  This legal HR brief has been provided by:

Audrey E. Mross

Labor & Employment Attorney

Munck Carter LLP

amross@munckcarter.com

www.munckcarter.com

Twitter: @amross

The post Employment Law Legal Brief: March ’11 in Review appeared first on Think, The Blytheco Blog.

The Sage FAS Fixed Assets 2011.1 Tax Update contains important new tax law changes that are now in place along with the latest rules, rates, and IRS forms.

IMPORTANT NOTICE

The Sage FAS 2011.1 Tax Update is only offered to Sage Business Care Customers. For more information or questions about this update, call us at 1-800-425-9843 or e-mail us at solutions@blytheco.com.

CHANGES TO YOUR SOFTWARE INCLUDE:

• Updated Tax Law We have updated the Sage FAS program to comply with the latest tax law changes.
  • Updated Tax Forms The 2011.1 tax update contains updated IRS Forms, including form 4562 -Depreciation and Amortization for 2010.
  • Section 168K Limits This update complies with the scheduled updates to the Sec. 168K allowance extension and includes 100% depreciation allowance for qualified assets from 9/9/2010 – 12/31/2012.
  • Section 179 Limits This update includes Sec. 179 dollar limit increases on property and other fixed assets.
• Expanded Audit Advisor We have updated Audit Advisor to check for assets not taking the 100% depreciation allowance on assets placed into service before 2012.
• New Sage Timberline Enterprise Link A depreciation posting link is now available in the Sage Timberline Enterprise (STE) ERP system, which was recently introduced by Sage.
• Other Enhancements This update now includes several other updates for U.S. tax law extensions and expirations.

Get the update here!!

The post Sage FAS Fixed Assets 2011.1 Tax Update appeared first on Think, The Blytheco Blog.