The US Dept of Labor states that if your company has been involved in a merger or acquisition, there is a 50% chance that you have been assigned the wrong rate and you may be overpaying taxes.

 How can that be, you may ask?

This is due to the Governments inability to properly record these transactions!

Hutchinson Business Solutions LLC (HBS) has great success working with clients who have been thru a merger, acquisition or restructuring. We have a 90% success rate, correcting these rates and providing credits and or refunds for our clients.

We offer a no cost evaluation of your current rate. We work on a contingency basis; there is no upfront cost associated with our services.

Contact us to see if you may qualify. Email george@hbsadvantage.com  or call 856-857-1230

 To learn more, visit us on the web www.hutchinsonbusinesssolutions.com

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Did You Know:

 

  • Unemployment is the 2nd  highest employer mandated tax
  • Each claim should be looked at as a potential $12,000 liability
  • Your Unemployment account is similar to having an open checkbook with the State:
    • The State assigns your rates
    • The State has total control of all monies in the account
    • The State determines the amount of each payment and disburses payments from this account
    • The State sends a quarterly reconciliation of all activity in the account
    • Would you handle your personal account this way?

 

Did You Know:

 

  • State of New Jersey has  a 12% error rate in the payment of unemployment claims.

 

The states are overpaying the amount of the claims and taking money from your account.

 

How we can help:

Our unemployment claim service will lower your rate because

  • We will audit every claim
    • Is the claim your responsibility?
    • Is the proposed dollar amount to be paid correct?
    • Are you 100% responsible for the claim being paid?
    • Is your account being charged for subsequent activities?

 

  • We will become the address of record and promptly notify you and file all necessary claim forms for your company.

 

  • We will review your existing claim procedure and make updates as needed to coordinate the handling of claim information between our offices.

 

  • We will hold seminars with key individuals and train your employees

 

  • We will reconcile your account to make sure the state has properly recorded all the payments and payroll information  that has been forwarded to their office.

 

  • We will verify your rate annually and determine if a voluntary contribution is applicable.

Should you want to know more about unemployment you may email george@hbsadvantage.com.

Visit our website www.hutchinsonbusinesssolutions.com  to learn more about opportunities to create savings for your comany.

  

        Many corporations view sales tax as just another cost of doing business. We would like to take a moment to review why it is important that companies review their procedure for paying sales tax.

 Here are a few questions to think about:

·        Do you know how much sales / use tax your company pays every year?

·        Does your company have a sales tax procedure in place?

·        Are these procedures being followed?

·        How much training has been given to the people responsible for accruing use tax?

·        Has there been frequent turnover in the position that handles this responsibility? 

Recently we spoke to a potential client who stated that over the last 3 years they had invested from  $250m upto $280m in capital improvements in their facilities. During this process either the owner or a subcontractor is purchasing material for specific improvements. Taxes may be paid for an item at the time of purchase however the ultimate test for tax is how is the item being used.  

 We have one client who was purchasing granite counter tops. The subcontractor was paying the tax on the granite tops and passing the tax onto our client thru a stipulated contract. Our audit defined that the granite counter tops were being installed into each unit thus becoming real property, which would make the purchase tax exempt.

These factors, and many others, contribute to why so many companies are paying more use and sales tax than they should.   

Part of an audit procedure should be looking at the entire operation within your company and how it is broken down into independent operating divisions. Each operation should be treated as a separate entity and determine the tax implications for each of their purchases.

It is also important to look at both sides of the equation. The state will come in and do an exposure audit. Is your company not paying tax on purchases that should be taxable. 

We not only look at that aspect but also determine if you are paying taxes on purchases that are actually tax exempt.  

Tax laws are complicated. Our staff is comprised of former state auditors who are familiar with the the tax codes in multiple sates.

In these difficult budget times, most states are running at a deficit and are becoming more aggressive at bringing in additional revenue. Don’t expect them to tell you if your company has overpaid its use and sales tax!

The onus is on you!

Do you feel that you may be overpaying Sales Tax?

For your own protection, you need someone who has your company’s best interest at heart.

Our clients are receiving significant refunds for overpayment of sales tax.

Let us know your thoughts?

You may email george@hbsadvantage.com

Hutchinson Business Solutions ……Your CFO on the Go.  

Creating Opportunities Today,…Defining Savings for Tomorrow.

Visit http://www.hutchinsonbusinesssolutions.com/ to learn more about saving opportunities available for your company.

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