SLIDE 1
VOLUNTARY COMPLIANCE BOARDGAME Before we start Please Silence - - PowerPoint PPT Presentation
VOLUNTARY COMPLIANCE BOARDGAME Before we start Please Silence - - PowerPoint PPT Presentation
VOLUNTARY COMPLIANCE BOARDGAME Before we start Please Silence Cellphones Before we start Who Am I? Why are we here tonight Vision To be an efficient organization that simplifies administrative processes and maximizes voluntary
SLIDE 2
SLIDE 3
Before we start…Who Am I?
SLIDE 4
Why are we here tonight…
Vision
To be an efficient organization that simplifies administrative processes and maximizes voluntary compliance with state tax laws.
Goal 1
To simplify voluntary compliance and to educate and assist taxpayers.
SLIDE 5
Why are we here tonight…
REALIZATION
Taxation is an integral part of being in business
SLIDE 6
Why are we here tonight…
Taxation is unavoidable, but paying penalties and interest is optional!
SLIDE 7
Why are we here tonight…
Understanding the Levels of Taxation
SLIDE 8
Why are we here tonight…
Statement of Values
…Continuous Improvement
Goal 5
To utilize administrative and planning processes as well as innovative methods to provide continuous improvement.
SLIDE 9
Why are we here tonight…
Realization – You Just May Need Some Help
SLIDE 10
Why are we here tonight…
Realization – You Just May Need Some Help
SLIDE 11
Why are we here tonight…
SLIDE 12
LE LET THE T THE G GAM AME BE E BEGIN IN
HERE!
Plea ease se Take Good Note tes! s!
SLIDE 13
SLIDE 14
Understand Business…
SLIDE 15
If you understand all of this, you will…
SLIDE 16
SLIDE 17
Honestly, you probably will have……
SLIDE 18
SLIDE 19
Talk to someone who can help you…
SLIDE 20
SLIDE 21
When to register…
- Within 30 days of getting a Standard Business License
($10,000+)
- Before due date of first return
- No more than 3 months before opening
SLIDE 22
Where to register…
- Secretary of State for Corporate Charter (LP, LLC, and Corp)
- IRS for Federal Employee Identification Number (FEIN)
- TN Department of Revenue for State Tax Accounts
- City and County Clerks for Business Licenses
SLIDE 23
How to register…
Proprietorship, Marital Joint Partnership, & General Partnership
SSN is required Major tax type liabilities include: ▪Sales and Use Tax ▪Business Tax
SLIDE 24
How to register…
Limited Partnership, Corporation, & Limited Liability Company (LLC)
FEIN is required Major tax type liabilities include: ▪Sales and Use Tax ▪Business Tax ▪Franchise and Excise Tax
SLIDE 25
After Registration…
- File all returns promptly
- Keep copies of all returns
- Maintain records
- Notify each agency when making
changes
- Notify each licensing agency upon
closure
- Keep up with any changes in tax laws
SLIDE 26
SLIDE 27
Electronic Filing…
Tennessee Taxpayer Access Point (TNTAP)
A free website with state-of-the-art functionality
- Access your account information 24 hours a day
- Save your return and finish later
- View correspondence
- Calculations done for you
- Maintain your tax account
Filing your taxes is now quicker, more efficient, and more streamlined!
SLIDE 28
Electronic Filing…
Tennessee Taxpayer Access Point (TNTAP)
Flexible – can change passwords, users, etc. Returns and payments will be filed electronically Payments can be warehoused No charge for electronic filing
SLIDE 29
Electronic Filing…
Tennessee Taxpayer Access Point (TNTAP) www.tn.gov/revenue/
SLIDE 30
Electronic Filing…
SLIDE 31
Electronic Filing…
SLIDE 32
Electronic Filing…
SLIDE 33
Electronic Filing…
SLIDE 34
SLIDE 35
Know Your Taxes…
SLIDE 36
Know Your Taxes…
SLIDE 37
Know Your Taxes…
SLIDE 38
Know Your Taxes…
SLIDE 39
Know Your Taxes…
SLIDE 40
Know Your Taxes…
SLIDE 41
SLIDE 42
Know When To File…
SLIDE 43
Know When To File…
SLIDE 44
Know When To File…
SLIDE 45
SLIDE 46
Make a Tax Calendar…
FEDERAL https://www.irs.gov/businesses/small-businesses-self- employed/irs-tax-calendar-for-businesses-and-self-employed STATE https://www.tn.gov/revenue/events Signup for RSS and Twitter feeds.
SLIDE 47
Make a Tax Calendar…
SLIDE 48
Make a Tax Calendar…
SLIDE 49
Make a Tax Calendar…
SLIDE 50
Make a Tax Calendar…
SLIDE 51
Make a Tax Calendar…
SLIDE 52
Make a Tax Calendar…
SLIDE 53
MORE TO COME!
SLIDE 54
SLIDE 55
The Nuts and Bolts of Compliance…
SLIDE 56
The Nuts and Bolts of Compliance…
SLIDE 57
The Nuts and Bolts of Compliance…
SLIDE 58
The Nuts and Bolts of Compliance…
SLIDE 59
SLIDE 60
The Land of Noncompliance…
SLIDE 61
The Land of Noncompliance…
SLIDE 62
The Land of Noncompliance…
SLIDE 63
The Land of Noncompliance…
SLIDE 64
The Land of Noncompliance…
SLIDE 65
The Land of Noncompliance…
SLIDE 66
The Land of Noncompliance…
SLIDE 67
The Land of Noncompliance…
SLIDE 68
The Land of Noncompliance…
SLIDE 69
The Land of Noncompliance…
SLIDE 70
The Land of Noncompliance…
SLIDE 71
The Land of Noncompliance…
SLIDE 72
The Land of Noncompliance…
SLIDE 73
The Land of Noncompliance…
SLIDE 74
The Land of Noncompliance…
SLIDE 75
SLIDE 76
The Bliss of Voluntary Compliance…
SLIDE 77
The Bliss of Voluntary Compliance…
SLIDE 78
The Bliss of Voluntary Compliance…
SLIDE 79
The Bliss of Voluntary Compliance…
SLIDE 80
The Bliss of Voluntary Compliance…
SLIDE 81
LET’S FINISH THIS UP!
SLIDE 82
Let’s Finish This…
SLIDE 83
- 1. Go to TDOR’s Website (www.tn.gov/revenue/)…
SLIDE 84
2(a). Educate Yourself…
https://www.tn.gov/revenue/new-businesses/registration-and-tax-requirements/helpful-resources-for-new- businesses.html
SLIDE 85
2(b). Ask Questions – Get Answers…
https://revenue.support.tn.gov/hc/en-us
SLIDE 86
- 3. Get A Support Team…
SLIDE 87
- 4. If You Are In Business, Get Help…
SLIDE 88
- 5. If You Are In Business, Start E-Filing…
SLIDE 89
- 6. Get A Tax Professional That E-Files…
SLIDE 90
- 7. Remember…
SLIDE 91
END OF THE ROAD…BUT ONE MORE SOMETHING LEFT
SLIDE 92