Small Business owners are faced with a number of different challenges which can inhibit their ability for success. Those who are able to navigate the different varieties of issues with which they are faced are more likely to generate a profit and in turn, continue on in a positive fashion as opposed to short falls which have the potential of causing a business to fail and close. One of the most common issues with any Denver business involves sales tax administration and different complications associated with filing the correct amounts when necessary.
Colorado undoubtedly is faced with one of the most unique (complicated) sales tax issuance methods in the entire United States. With a variety of different types of sales tax that all businesses must collect, these discrepancies must be made and properly administered to help small businesses be successful. Although there have been steps to make the complex sales tax reform
easier to manipulate, work remains to be done.
The complexity of sales tax for the state can easily be summarized in one simple explanation. For most every state in the Union there is simply one type of sales tax which must be collected by those companies and businesses in their state - one. In Colorado, there “are more than 700 possible combinations” for different types of sales tax issues and regulations which must be not only appropriately collected but also reported to maintain compliance with the state.
Home Rule City
Home rule cities
essentially determine their own form of self government provided the rules and regulations instituted follow the Constitutional outlines provided by the federal government. In these instances many of the same regulations apply but it also allows for a variety of different variations for tax incentives and applications. These are what have allowed the Colorado implications to increasingly flow out of control providing an enormous amount of different applications and associations for sales tax administration.
Application and Assertion
Instead of having to spend enormous amounts of time on determining which applications are correct and what exactly should be reported or charged, there are alternative methods available for administration. Electing to move these distinct applications to an outside agency will employ a more beneficial response to all of the other methods associated with running a small business.
Instead of having to determine if an appropriate amount of tax is being applied and sent in when required, then employees and those working in succession for the benefit of an organization can focus their efforts on what matters - customer service, assistance, and the bottom line. These help to eliminate a need for continually crunching numbers and hoping the success of a business isn’t thwarted by a particular tax administration.
The accounting and tax experts at Bloch, Rothman, and Associates
will be pleased to help eliminate this particular burden and cover the sales tax association for your business. Our highly trained associates can help ensure that you not only receive the best service possible but also pay only the appropriate and required amounts for sales tax reporting. Further, they are willing and ready to assist in filing via the method most specific to your individual situation for any due tax. Known for providing expert advice and financial assistance, the professional staff at Bloch, Rothman, and Associates can also help with a variety of different accounting, bookkeeping and payroll options on an individual or business level. Whether you need an explanation for a random tax form, are potentially in need of appropriate representation in tax court, or could use help in potentially a variety of other various services our tax experts are ready and willing to assist. Call 303-321-7160 or contact us
for your initial free no obligation consultation.