Clarus Partners

It’s pivotal for businesses to stay relevant and aligned with the ever-evolving legislative measures surrounding taxes at the local, national, and international levels. However, with the wheel of change turning swiftly, keeping tabs on these complexities is no easy task. The need to maintain clarity and transparency when filing for tax returns adds further layers of complexity. Organizations are often at risk of audit and hefty penalties and interest, as traversing this complex tax landscape requires significant time and effort. Leaning toward a trusted partner can help better meet sales and use tax compliance.

Clarus Partners, the tax compliance stalwart, is well-positioned to help organizations navigate the complexities of sales and use tax compliance. A unique blend of industry know-how and consultation expertise enables it to take a highly customized approach when setting processes to facilitate sales tax compliance right from the initial step.

Each client engagement begins with an in-depth analysis of sales and purchase information from different sources, including ERP systems and accounting software. After all, companies operating in the same industry might have different processes, and the type of ERP and relevant reports may greatly vary. Clarus Partners, in this regard, looks into every avenue of goods purchased, sold and type of service rendered that software fails to consider for ascertaining the most suitable method of data aggregation and accounting reconciliation. These insights are then correlated with industry-specific laws to calculate sales tax. This analytical approach enables it to deduce sales and use tax accurately while offering advice for complicated procedures like multi-state tax compliance.

“We take a step further as consultants and function as a revenue center for clients, helping identify all areas of improvement regarding sales tax compliance,” says Jeff Stonerock, tax director at Clarus Partners.

Clarus Partners is proficient in identifying overlapping areas that hold opportunities for credits, refunds, and tax exemptions. The team scrutinizes how purchases are structured across different channels to help companies realize significant tax savings without derailing from sales and use tax compliance.

They also monitor sales activity for nexus determination which cuts down on clients’ administrative burden.

“Our compliance services are generally a combination of onsite resources and offsite support, which enables us to mitigate any challenge and deliver a seamless end-to-end service to clients. We always strive to render sales tax compliance more efficiently and cost-effectively,” says Stonerock.

A case in point involves a procurement business that approached Clarus Partners for assistance regarding the correct determination of sales tax. Although the products procured were either exempt or refundable, their tax-determining software was not generating the appropriate credits. The Clarus Partners team provided its unique insight and expertise by modifying data feeds in their ERP and accounting software to correctly identify every sales transaction. Then they correlated the data into their software, helping them deduce the correct tax to pay after refunds. The team took a step further and analyzed the purchases in different functional groups to identify areas of additional credits and tax refunds that were instrumental in driving down tax costs for the client.

Clarus Partners is synonymous with many similar client success stories. It affirms all its success to its team of highly skilled compliance experts who hold a wealth of knowledge in all paradigms of sales and use tax, regardless of the State. This approach enables it to devise compliance processes from an external and internal perspective and from an internal angle, making Clarus Partners an ideal partner for sales tax compliance.