CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Sales and Use Tax Accounting

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Accounting

Course Description

Sales and Use Tax Accounting discusses when to apply sales and use taxes to a transaction. This course addresses the calculation of these taxes, when exemptions may apply, how to remit tax receipts to the government, and how to present the related tax liability in the financial statements. Author Steven M. Bragg also covers many special situations such as dealing with over or under collections of sales taxes, private letter rulings, sales tax holidays, and how to deal with a sales tax audit.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the methods used to remit sales taxes to a government.
  • Note the different requirements for obtaining a sales tax license.
  • Recognize the rules for how and when to charge sales tax.
  • Recall the proper accounting to be used for all types of sales tax transactions.
  • Note the proper presentation of sales tax liabilities in the financial statements.
  • Identify the correct treatment of over- and under-collections of sales taxes.
  • Recall the excuses that may be accepted for not submitting a sales tax return.
  • Note the key characteristics of a private letter ruling.
  • Recall how a multiple points of use certificate is to be used.
  • Identify the situations in which use tax is to be paid.

Course Specifics

Course ID
1173463
Revision Date
January 6, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with …

Steven M. Bragg, CPA Read More »

Sales and Use Tax Accounting

Expert Instructors
Format
CPE CREDITS
2 Credits: Accounting

$58.00$78.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Accounting

Course Description

Sales and Use Tax Accounting discusses when to apply sales and use taxes to a transaction. This course addresses the calculation of these taxes, when exemptions may apply, how to remit tax receipts to the government, and how to present the related tax liability in the financial statements. Author Steven M. Bragg also covers many special situations such as dealing with over or under collections of sales taxes, private letter rulings, sales tax holidays, and how to deal with a sales tax audit.

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify the methods used to remit sales taxes to a government.
  • Note the different requirements for obtaining a sales tax license.
  • Recognize the rules for how and when to charge sales tax.
  • Recall the proper accounting to be used for all types of sales tax transactions.
  • Note the proper presentation of sales tax liabilities in the financial statements.
  • Identify the correct treatment of over- and under-collections of sales taxes.
  • Recall the excuses that may be accepted for not submitting a sales tax return.
  • Note the key characteristics of a private letter ruling.
  • Recall how a multiple points of use certificate is to be used.
  • Identify the situations in which use tax is to be paid.

Course Specifics

Course ID
1173463
Revision Date
January 6, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with …

Steven M. Bragg, CPA Read More »

Sales and Use Tax Accounting

Expert Instructors
Format
CPE CREDITS
2 Credits: Accounting

$58.00$78.00

Clear