SALTovation: Navigating the Complexities of State and Local Tax by Aprio

In this episode of the SALTovation podcast, we continue our conversation with Chris Muntifering, Executive Director at the Institute for Professionals in Taxation. We explore the role of the Institute for Professionals in Taxation (IPT) and its unique position in the landscape of tax organizations, highlighting how it distinguishes itself from competitors like the Council of State Taxation. Chris discusses the rigorous process behind IPT's advocacy efforts, including the criteria for supporting cases that benefit its members and the importance of engaging younger professionals as the landscape of tax professionals continues to evolve.

• The CMI program emphasizes the importance of both experience and education in taxation roles.
• IPT aims to support its members by providing resources and guiding them through tax issues.
• The process of submitting amicus brief requests is detailed and requires careful consideration.
• IPT is focused on education while other organizations may also engage in advocacy efforts.
• Engaging younger professionals is a key initiative for the future success of IPT.
• The CMI exam is designed to test both knowledge and practical experience in the field.

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In this episode of the SALTovation podcast, Chris Muntifering, Executive Director at the Institute for Professionals in Taxation. Chris shares his journey from a finance graduate to a seasoned tax professional, emphasizing how he fell into property tax and eventually became a key player in IPT. Chris discusses the importance of education in tax management, with IPT providing resources for professionals at all levels, from basic to advanced training across various tax disciplines. Listen this week as we explore the importance of community, mentorship, and continuous learning in the field of taxation.

• Chris's journey into tax began unexpectedly, showcasing how many professionals enter the field.
• The Institute for Professionals in Taxation (IPT) focuses on education across multiple tax disciplines.
• IPT's mission emphasizes providing broad-based education, catering to various levels of tax professionals.
• Networking and relationships are vital for tax professionals, as they provide essential resources and support.
• Chris highlights the importance of adapting tax knowledge in an evolving business landscape.

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In this episode of the SALTovation podcast, we continue our conversation with industry veteran Kim Blascoe. Kim discusses the critical need for upskilling talent within public accounting firms to meet the growing demand for advisory services. Kim shares why firms must assess their current skill sets and develop their teams to deliver effective advisory services as the industry shifts from a compliance-focused model to a more client-centric approach. Listen this week as we discuss how firms can adapt to these changes, and navigate the challenges posed by competition, and the increasing complexity of client needs.

• Upskilling existing talent in public accounting is crucial to meet client advisory needs.
• The pandemic has changed client expectations, making virtual consulting more accepted and effective.
• Client advisory services must focus on delivering real value beyond traditional compliance work.
• Firms should assess their service offerings to include advisory services for competitive advantage.
• Building relationships with clients is essential as advisory services evolve in public accounting.
• Smaller firms can leverage larger firms' resources to enhance their service offerings and expertise.

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In this episode of the SALTovation podcast, industry veteran Kim Blascoe. With over three decades of experience, Kim shares her professional journey from owning a tax and accounting practice to leading Whipley's national accounting practice and her current role at CPA.com. Kim sheds light on the importance of mentoring in accounting, the strategy behind merging firms, and how to best support CPA firms in their growth and transformation efforts. Listen as we discuss the challenges CPA firms face today, from technology adoption to talent retention.

• Mentoring and Career Development: Kim finds immense value in mentoring young professionals and guiding their career paths within the accounting industry.
• State and Local Tax Complexity: The episode highlights the intricacies of SALT, particularly how different state regulations impact businesses in a post-pandemic world.
• Digital Transformation: CPA.com’s mission is to support firms through digital transformation, offering tools, education, and consulting to enhance technological adoption and practice growth.
• Specialization and Advisory Services: The importance of moving from generalist to specialist roles within accounting firms to provide high-value advisory services is emphasized.
• Talent and Technology Management: Firms struggle with retaining talent, upskilling employees, and keeping up with rapidly advancing technology, including the integration of AI.

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In this episode of the SALTovation podcast, we continue our conversation with Alicia Gelinas, President & CEO of COCPA. Alicia takes a deep dive into the evolving nature of professional networking, the impact of technology on relationship-building, and the significance of in-person interactions in an increasingly virtual world. With a focus on enhancing the CPA profession, she navigates through the challenges posed by remote work, the Amazon effect, and the need for robust personal connections within the CPA community. Alicia also discusses her vision for the future, aiming to leave a legacy of a connected, supportive, and forward-thinking CPA community.

• Evolving Networking Dynamics: Understanding how virtual connectivity influences professional networking and the enduring importance of in-person interactions.
• Strategic Focus of CoCPA: Emphasizing member support and advocacy through initiatives like leadership programs and scholarships.
• The Amazon Effect: Discussing the shift towards instant solutions and its impact on long-term professional relationship building.
• Emerging Trends: Highlighting the growing importance of ESG reporting and the role of CPAs in leveraging AI and other emerging technologies.
• Legacy and Community: Alicia's vision for fostering a sense of belonging and pride within the CPA profession through active engagement and professional support.

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In this episode of the Women to Watch in Sales Tax series, Diane Yetter of the Sales Tax Institute sits down with Meredith Smith, senior tax manager at TaxOps. Meredith shares her journey from starting in public accounting with a focus on income tax to becoming a self-taught sales tax expert at TaxOps. She sheds light on her role within TaxOps' State and Local Tax Group and offers insight into her pride in being adaptable and client-focused in the sales tax domain.

Meredith discusses the importance of being a good listener, particularly in the advisory side of sales tax work. She talks about how sales tax often gets overlooked within companies and the necessity of advocacy for addressing both past obligations and future risks. Meredith’s experience highlights how crucial it is to listen and understand client needs, making a significant impact in the compliance and consultancy aspects of sales tax. She also shares tips for women who are self-taught in sales tax, emphasizing the value of listening and advocating within their companies.

• Meredith Smith transitioned from income tax to sales tax, becoming self-taught to meet client needs at TaxOps.
• Listening to clients and understanding their specific circumstances are critical in providing effective sales tax advisory services.
• Advocating for the importance of sales tax within your company can help address both past and current obligations.
• Sales tax knowledge isn't typically taught in traditional education, making self-taught professionals quite common in the field.
• Staying updated and attentive to changes within your organization can reveal crucial sales tax implications.

• Sales Tax Institute
• TaxOps

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In this episode of the SALTovation podcast, we speak with Alicia Gelinas, President & CEO of COCPA. Alicia explores the evolving landscape of the accounting profession, the need for better marketing to young professionals, salary disparities, and the importance of creating supportive professional networks. She also touches on the critical role of advocacy and lifelong learning and offers insights into the systemic challenges and solutions facing the field today. Listen this week as Judy and Alicia discuss the critical role of professional associations like the COCPA in advocating for CPAs and enhancing community engagement among accounting professionals. 

• Career Diversity in Accounting: Alicia’s journey showcases the wide array of opportunities within the accounting profession, from traditional roles in public accounting to leadership positions in professional organizations.
• Importance of Passion: Aligning personal passions with professional work can lead to a more fulfilling career; Alicia’s transition into coaching and subsequent leadership roles highlights this.
• Challenges in the Profession: The accounting profession faces significant challenges, including underrepresentation among young professionals and the need to better market the advantages and opportunities within the field.
• Advocacy and Support: Organizations like COCPA play a crucial role in advocating for CPAs, providing continuous professional development, and fostering a supportive community.
• Systemic Changes Needed: Issues such as competitive compensation, enhancing the profession’s public image, and adapting to new technologies are vital to attracting and retaining talent in the accounting sector.

Quotables

• "The theme that has emerged is that we as accountants, are not great marketers. So we haven't been telling a compelling story about what the profession means.” -Alicia Gelinas
• "Whatever I do, it doesn't matter as long as I turn my passions into my paycheck.” -Alicia Gelinas

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In this episode of the SALTovation podcast, we continue our conversation with Sam Breslow on the complexities of state and local tax regulations, highlighting the challenges of accessing historical tax information, the implications of different source and destination tax laws, and the intricacies of Colorado's local tax system. Through real-world case discussions like Ohio's VBF case and Illinois's leveling the playing field regulations, Sam provides valuable insights for businesses navigating the labyrinth of tax compliance. Listen this week to get expert tips on managing voluntary disclosure agreements and learn about the ongoing efforts to simplify tax!

• Historical FYIs and FOIA Requests: The sanitization of FYIs led to significant challenges for practitioners who used these documents for tax comfort, highlighting the critical role of FOIA in accessing pivotal information.
• VBF Case Insights: The Ohio VBF case emphasized the necessity for taxpayers to maintain extensive records that demonstrate the final destination of goods to ensure proper sourcing for gross receipts taxes.
• Colorado Local Tax Complexities: Remote sellers face an arduous task navigating Colorado's diverse local tax requirements, especially given the inconsistencies in the adoption of model ordinances and participation in the SUTS system.
• Leveling the Playing Field in Illinois: Illinois' complex tax system, including the differentiation between remote and in-state sellers, presents numerous challenges, with pending legislation aiming to simplify the existing labyrinthine structure.
• Strategic Tax Planning: Both Judy and Sam stress the importance of strategic planning and staying informed about statutory changes to effectively manage state and local tax obligations and avoid inadvertent compliance issues.

Quotables

• "If a state needs a flowchart to decipher its law, that’s probably a sign that maybe it violates due process because it's so cumbersome to use.” -Sam Breslow

• "I advise my clients to pay very close attention to when they adopted the model ordinance, which for those of you that maybe aren't as familiar, that means that you're pretty much saying if you're subject to tax at the state level, if you give over 100,000 sales at the state level, you're subject to tax localities, which is unconstitutional.” -Sam Breslow

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In this episode of the SALTovation podcast, we speak with Samantha Breslow, a seasoned expert in state and local tax, who is serving as a prominent attorney at HMB, a firm recently acquired by Kilpatrick. Sam shares her thoughts on the intricacies of tax compliance, the significance of maintaining professional relationships, and the hurdles faced when dealing with aggressive tax authorities. Listen as we take a deep dive into the Colorado local tax landscape, revealing the challenges and strategies for navigating the state's unique taxing jurisdictions. 

Check out the VVF Intervest LLC v. Harris - BTA Case No. 2019-1233 (Sept.13, 2023) case here. 

• Navigating Career Transitions: Sam's transition from aspiring family lawyer to tax attorney emphasizes the importance of flexibility and open-mindedness in career paths.
• Complex Tax Cases: The episode highlights challenging cases like the Illinois business non-business income issue and the Tractor Supply decision in South Carolina, offering insights into tax litigation strategies.
• Colorado Local Tax Nuances: An in-depth look at Colorado's taxing jurisdictions sheds light on the complexities of local compliance and strategic voluntary disclosures.
• Impact of Professional Relationships: Maintaining relationships within the industry plays a crucial role in career development and effective case management.
• Evolving Tax Laws: Discussions around the VDF case, digital services taxation, and leveling the playing field in Illinois underscore the dynamic and ever-changing nature of state and local tax laws.

Quotables

• "There aren't that many wins in the scheme of things, at least within my career so far, because we do ultimately resettle a lot because it's in the best interest of the taxpayer a lot of the times to settle.” -Sam Breslow [13:16]
• "When a state doesn't modify their ordinance or their statute but changes the way that they're doing things, I don't know if that's necessarily right.” -Sam Breslow [20:00]

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In this episode of the SALTovation podcast, we continue our discussion with Florian Hanslik, a seasoned tax professional specializing in VAT. Listen as we take a brief detour from U.S. taxation to explore European VAT systems. We cover the regulatory framework, audit processes, and the fascinating trajectory of VAT towards digitalization within the EU. Florian provides foresight into the increasing digitalization of VAT compliance and how businesses need to adapt to these evolutionary changes in the tax landscape.

• EU VAT Directive and Adaptation: The VAT Directive sets standard guidelines that EU countries must implement but allows for local adaptations, leading to significant variations in VAT rates and regulations.
• Role of the EU Court of Justice: The Court ensures uniform application of the VAT laws across member states, influencing national legislation and compliance practices.
• Digitalization of VAT Compliance: Moving towards a unified e-invoicing system by 2035 to streamline trade within the EU, despite countries like Poland and Italy having already implemented their systems.
• VAT Audits in Different Jurisdictions: Distinct audit practices in countries like Switzerland, Germany, and Italy, showcasing a range of approaches from trust-based to more bureaucratic methods.
• Future Trends in VAT: Increasing digitalization is anticipated to simplify audit processes and compliance but may also bring challenges related to data privacy and system integration.

Quotables

• "You have to take states by the hand and say, okay, now let's first question, what do you want to do? These are the facts. Let's go to the right side or to the left side. Yes. Let's say yes, let's say no, because it will be difficult for them to decide. So you have to take their hand and guide them through.” -Florian Hanslik [00:49]

• "What I really like here in Switzerland is that the tax authorities talk about their clients when they talk about the companies they have to audit. And it's really a client system. They don't want to act mean. They want to ensure that going forward it will be done correctly.” -Florian Hanslik [18:46]

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Introductory Call