Where to Look

January 26, 2018

It is always nice to hear good things about our company

 

When I was on the other side of the table

Looking to make a major purchase or an upgrade

I always made it a point

To get as much information as possible

 

I was looking to see

Who would be the most qualified

To implement the program or vision

We looked to achieve

 

I never liked long winded explanations

Just give me the facts

 

When giving the presentation

Give an apple to apples comparison

 

That is the only way you can make an objective decision

 

If a presentation leads to more questions than answers

I found that disheartening

 

Why am I babbling about this…

 

Recently…I was delighted

When a client complimented HBS

On the completeness of our presentation

 

They went on to say…..

We interviewed another broker…

 Their presentation was confusing….

 Leaving more questions than answers….

 

They felt our proposal was self-explanatory

It provided all the information they needed to know

They liked our attention to detail

 

Our proposal also noted

What items were under contract

And their expiration dates

 

Our goal has always been…

Define the client’s needs…

Properly address the client’s needs…

Show value with our solution….

Build a relationship of trust with the client….

Continually educate our clients

 

Everything we do

Is done with the client’s best interest in mind

 

HBS has provided substantial savings

To many of the Delaware Valley’s

Most successful firms

 

Many were surprised to find savings from 20% up to 40% and more

 

Deregulated Energy…Communication…Unemployment Taxes…Sales Tax…Property Tax

 

How do we do it…

We know where to look

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by Jeff Rogyom

In today’s competitive business climate, businesses are paying more taxes than necessary and they do so at their own peril.  But when extra cash is needed, the company can hire tax professionals to recover those overpayments through refunds.

By conducting reverse audits on behalf of companies, we have rarely found a company whose tax department didn’t have some oversights, particularly regarding indirect taxes.  Likely targets for recoverable overpayments include the company’s indirect taxes, such as: sales & use taxes, value-added taxes, and excise taxes.  Certain state-specific taxes are also likely cash sources, such as the Maryland admissions and amusement tax which is levied upon the business not the customer.

Understandably, most companies’ tax staff tend to focus on federal and state income taxes.  Some companies even delegate indirect tax responsibilities outside their tax departments, such as to their accounts payable staff.  Focusing on recovering use tax overpayments and fine-tuning the accounts payable systems can create both immediate cash and long-term competitive advantages.

The process generally begins by the company sending accounts payable information to the tax consultant.  The tax consultant will evaluate the information based upon their knowledge of your company and industry.  The tax consultant will then request sample invoices based upon their analysis.  The consultant then indentifies areas with needed improvements and where refunds can be requested.  The refund recommendations may be limited to certain tax jurisdictions where refund benefits outweigh tax liability risks.

While larger companies provide more opportunities for tax recovery, some industries are particularly affected by indirect tax errors given their many available exemptions.  Companies in those industries include: manufacturers, contractors, service providers, non-profits, pharmaceuticals, and other high-tech companies.  There are many areas your company likely has not considered as tax refund sources.

With modern electronic accounting systems, the tax recovery process can be conducted with minimal burden upon company staff.  In addition, many tax consultants may agree to work on a contingency or a mixed-contingency basis.  Given the minimal risk, companies should not hesitate seeking tax recovery services.

Our Perspective:

This is a great article that outlines the opportunity for recovering overpayments of State Sales Tax. We have worked with many companies with great success in this area. Tax laws are very complicated. Let our team of professionsals help. For more information email george@hbsadvantage.com or call 856-857-1230

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