There are two distinct definitions for the term “indirect tax.” One has to do with the legal definition, as laid out in the U.S. Constitution. An example of this type of indirect tax is the tax payment collected on the sale of property. Most small business owners are more concerned with the economic definition of indirect taxes. These include taxes that are collected by retailers, such as a sales tax on goods like food and gas. Ultimately, small business owners must familiarize themselves with the indirect taxes they are responsible for collecting or risk a legal problem with the IRS.

A CPA in Tampa from Reliance Consulting, LLC, can help small business owners understand the complexities of collecting and paying indirect taxes. Depending on how widespread the geographic region of your business is, you may discover that your business concerns are affected by an incredibly wide range of sales tax jurisdictions. How will you know what to charge, or when to file? That’s where Reliance comes in. Our experienced CPAs are experts at interpreting tax rules, and will leave no stone unturned as we help you streamline your finances.

Tax planning and rules interpretation is only part of what we do. We understand that small business owners can feel overwhelmed at times, which is why we provide payroll services, bookkeeping, cash flow management, tax preparation, and more. With all of those financial chores in our safe keeping, a business owner is free to focus on daily operations and long-range planning. To learn more about indirect taxes, or any other financial concern, contact Reliance today.