Tax & Accounting Blog

A Simpler Way to Keep Track of Indirect Tax

A Simpler Way to Keep Track of Indirect Tax

Indirect tax – which encompasses consumption, transaction, value-added, and sales and use taxes – can cost businesses thousands of dollars to manage each year. Though keeping track of indirect tax is a legal obligation, staying on top of constantly changing tax rates and rules can be overwhelming. Additionally, if it is done incorrectly, businesses risk … Read More

Year-End Success Story #3: How Intermec Sped Up Their Provision By 2 Weeks

Year-End Success Story #3: How Intermec Sped Up Their Provision By 2 Weeks

Looking to free up time during your busiest season for more sleep, a vacation or to be with family more? Kim Gill, Sr. Tax Manager at Intermec shares how she’s spending her free time now that her tax department is experiencing significant time savings on their provision. “Before we started using ONESOURCE Tax Provision, one of the biggest challenges that … Read More

Residency for Tax Treaty Purposes for Individuals Part 3: The Savings Clause Exception

Residency for Tax Treaty Purposes for Individuals Part 3: The Savings Clause Exception

Because the United States imposes worldwide taxation on its citizens and immigrants (popularly called green-card holders), all U.S. tax treaties include a provision commonly referred to as a savings clause because it saves the right of the U.S. to tax its citizens and residents wherever they reside in the world. For example, Article 1(4), General Scope, … Read More

Thomson Reuters Announces ONESOURCE Indirect Tax Integration for Oracle 12 Inventory Movement

Thomson Reuters Announces ONESOURCE Indirect Tax Integration for Oracle 12 Inventory Movement

Thomson Reuters today announced ONESOURCE Indirect Tax Integration for Oracle 12 Inventory Movement. Building on the company’s Gold level membership in the Oracle PartnerNetwork (OPN), the latest integration reduces the risk from audit penalties resulting from changes in inventory usage. For example, components initially purchased for inclusion in manufactured goods often end up being used … Read More

Year-End Success Story #2: How to Produce Better Quality Reports For Year-End

Year-End Success Story #2: How to Produce Better Quality Reports For Year-End

 Does this scenario sound familiar? Not enough time, limited capacity amongst staff; but still tasked with improving the quality of financial information in a shorter amount of time?  This is exactly what one global hospitality company’s tax department  faced when using spreadsheets to calculate their provision. Monique Smith explains why her her progressive tax department turned to automation and … Read More