Business
Robert Payne is a sales tax specialist at Sales Tax and More. He is responsible for doing tax research, audit defense, and similar type projects. He has over a decade's worth of experience working as a state tax auditor, and he has worked with the California Department of Tax and Fee Administration as a tax auditor. Robert holds a Bachelors of Science degree in Accountancy from the Northern Illinois University. If you own a business, there is always a chance that your State will choose you for a sales tax audit. It’s always a shock and you are bound to have a million questions running through your mind, particularly, why did the State choose to edit your business? Robert Payne, a tax specialist at Sales Tax and More, says that audits are almost guaranteed as part of the business and for him, the best way to prepare and handle the audits is to make sure that you have all the necessary accounting records ready. This way you would protect yourself and your business. But what if some records are missing? Robert answers this question and shares all the things that you need to know about tax audits in this episode of Sales Tax and More. Tune in as he talks to Michael and Ellie about discovery units and their role in choosing a business to audit. He also discusses what the XYZ letter is and how you can use it to your benefit, and why it’s important to maintain a good relationship with your auditor.