Sales Tax – Texas Comptroller Relief

by | Mar 25, 2020

 

Client Communication – March 25, 2020

Today the Texas Comptroller of Public Accounts offered assistance with businesses struggling to pay the full amount of sales taxes collected in February.  They are offering short-term payment agreements, and in most instances, waivers of penalties and interest.  Please contact their Enforcement Hotline at 800-252-8800 if you are a business requesting relief.

A link of the questions and answers can be found at:

https://comptroller.texas.gov/about/emergency/

The Comptroller’s website will be updated periodically.  We recommend visiting their site regularly.

Five Steps to Recognizing Revenue in Financials

The FASB and IASB have provided standards for properly recognizing revenue in your financials. Using a five step process, companies recognize revenue based on the value and timing of when control of the goods and services are transferred to the customer. Learn about the standards and how to properly recognize revenue for your company.

Is your managed service provider as secure as you think?

As attack methods become more sophisticated and widespread, no organization is immune to suffering a cybersecurity breach. The key to protecting your business is developing controls to make you less of a target and limit potential damage, as well as implementing a comprehensive strategy to react if you fall victim to an attack.