chuck1975
Bronze Member
- Joined
- Oct 30, 2005
- Messages
- 52
- Tractor
- new holland 1920, ferguson to35, case 1948 dc, kubota (my brothers but left here as he has no where to keep it)
Guys this is unbelievable timing to see this question. I'm in the middle of a state audit. 2 days down and tomorrow will finish, I hope. What is the state looking for? Money! Large purchases where the sales tax is not collected or shown to be paid. All out of state vendors that I do business with. Next and final kicker all internet sales. If I don't pay sales tax then I'm suppose to report all of these items and amount of purchase and pay "use" tax on them which amounts to the same as sales tax here.
When I got the letter notifying me of the audit and what they wanted I contacted the CPA and we started putting everything together. Yep we missed a few, the audit caught them and I'm sure I'll be paying for it. Missed on purpose? No, honest mistake and auditor has said that they're even working with the CPA to minimize the penalties. They just want their money. If it is due them I have no problem paying it, I just hate the penalties.
My CPA has had several clients in the last few years get audited. The states are broke and they're looking for easy money. That means you and I. They know the coraporate world has all the CPAs and lwyers to keep them at bay so the individual and small business owners are the primary targets.
Good luck with your purchase and keep all receipts,
chuck
When I got the letter notifying me of the audit and what they wanted I contacted the CPA and we started putting everything together. Yep we missed a few, the audit caught them and I'm sure I'll be paying for it. Missed on purpose? No, honest mistake and auditor has said that they're even working with the CPA to minimize the penalties. They just want their money. If it is due them I have no problem paying it, I just hate the penalties.
My CPA has had several clients in the last few years get audited. The states are broke and they're looking for easy money. That means you and I. They know the coraporate world has all the CPAs and lwyers to keep them at bay so the individual and small business owners are the primary targets.
Good luck with your purchase and keep all receipts,
chuck