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Properly Classify Your Products & Services for Sales Tax

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Location
Online
Credit
1.5 CPE credits
 
 
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Overview

Regardless of what you sell or what industry you’re in, it is essential that you properly classify your products or services for sales tax purposes. If you fail to do so, you could be setting yourself up for huge problems, ranging from audit risk, loss of profits, lawsuits, and more. It pays to get it right the first time.

This 90-minute live webinar will teach you how to properly classify your products or services for sales tax purposes, covering a wide range of industries. This is a crucial step – whether you are using an automated tax solution or not.  For those that do use a tax solution, we’ll show you how to incorporate this information into an automated tax solution. We’ll cover issues from both the sales and the procurement point of view.

By learning this process, you can be confident that you are classifying and charging sales tax correctly on all of your sales, which will result in time and cost savings and reduced errors. Not to mention the peace of mind that comes with handling this crucial sales tax task correctly.

Who should attend?

This webinar is intended for financial and operations personnel—including tax, tax technology, IT, and purchasing groups with responsibility for the product classification and implementation of tax systems.  It is also beneficial for, general accounting, accounts payable, sales, tax technology, purchasing and credit professionals who deal with sales and use tax as part of their responsibilities. This webinar is also intended for companies that are currently using or are looking to implement a sales tax automation system. The course is also designed for general practitioners, with minimal to no experience.

About the Instructor

Diane L. Yetter, President & Founder, YETTER and Sales Tax Institute

Diane L. Yetter is a strategist, advisor, speaker, and author in the field of sales and use tax. She is president and founder of YETTERTM, a sales tax consulting and tax technology firm in business since 1996. She is also the founder of The Sales Tax Institute, a premier think tank that offers live and online courses to educate business professionals about sales and use tax.

More About Diane L. Yetter

“Sales taxes are extremely complicated and it doesn’t seem like there is much out there in terms of guidance. It’s great to find a place that I can come to learn more about sales tax issues we face as a business. Thank you so much for creating these courses.”

Additional Details About the Webinar

About the Webinar

Regardless of what industry you’re in – whether it’s retail, manufacturing, construction, software, sales of services, or many more – it is essential that you properly classify the items that you sell. How you classify determines the rate in which you charge and pay sales tax on transactions. Knowing WHAT to charge is very important!

When you are looking at the products and services that you purchase, it is just as important to classify them correctly. This can help reduce your tax expense and also streamline the use tax accrual process.

The benefits of learning how to do this and implementing it into an automated tax solution are huge. Automating this function can result in big time and money savings. You can gain confidence that you are correctly classifying your sales and charging the correct sales tax. And you can avoid huge headaches and increased labor costs to fix problems down the line.

You’ll walk away from this webinar with practical, usable takeaways that you can put into action for your business TODAY. And during the live Q&A portion of the webinar, you can get answers to your specific sales tax questions directly from our faculty expert.

Your Teaching Staff

In this 90-minute live webinar, sales tax expert Diane Yetter of the Sales Tax Institute will guide you through her process to make sure you are properly classifying your products or services for sales & use tax purposes.

First, she’ll walk you through product classification for the items you sell or buy, drawing upon her 30-plus years of experience working with a wide range of companies in different industries. Second, Diane will show you how to implement this information into a tax automation system, so you can be confident that the correct sales tax is being charged on your sales, every time.

Learning Objectives for this webinar include:

  • Learn how to properly classify the products or services you sell and buy, so you can be sure that you are correctly handling sales and use tax on every transaction.
  • Discover the product classification issues you need to be aware of for a number of industries, so you can avoid common and costly mistakes.
  • Understand what items you need to examine when classifying products, including invoices, labeling, ingredients and more.
  • Learn how to correctly implement this information into an automated tax system, so you can be confident that sales tax is being charged correctly every time.
  • Gain knowledge on how to maintain this information in an automated tax system, so you can avoid errors when changes take place down the line.

 

CPE Information:
Webinar attendees can earn 1.5 hours of CPE credit in the “Taxes” field of study

Prerequisites: This course requires no prerequisites or advance preparation.

Program Level: Basic

Delivery Method: Group Internet-Based

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