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Synexus Tax Solutions: Navigating Multi-State Sales and Use Tax with RPA

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Timothy Howe, CPA, Co-Founder & CEO, Synexus Tax SolutionsTimothy Howe, CPA, Co-Founder & CEO
Tax professionals spend a lot of time compiling, adjusting, and reconciling data for sales and use tax returns and statutory filings, even with the integration of a dedicated sales tax software application. A significant portion of their time goes into managing the varied sales and use tax exemptions of multiple states and managing the setup within these applications. What gets lost? Managing the data related to compliance and understanding the outputs of these applications for their compliance process. Tax professionals must be extra careful with these steps, as any non-compliance can lead to hefty penalties and interest charges.

Synexus Tax Solutions particularly focuses on multi-state indirect tax needs and solves these problems with its tax compliance data management software by offering consistent, repeatable, and scalable tax return filings, analytics, and reports. Its automated modules improve accuracy, lower costs, increase efficiencies, and provide better control against risky audits.

Its platform leverages proprietary robotic process automation (RPA) to create a scalable process for end-to-end tax calculation and reporting. This empowers tax professionals’ time to focus on exceptions that need human intervention. The platform’s implementation is very easy. It adapts to the client’s existing environment, making change management seamless with minimal modifications. It also integrates tax rating solutions that merge state and local jurisdictions in one place.

The platform can integrate data from any format, whether Excel sheets, flat file exports of any type and even complex data management systems like Alteryx, MS SQL Server, or PostgreSQL. The compiled data is run through Synexus’ proprietary tax data management process and automatically generates the returns and recalculates the tax based on jurisdictional applicability. All the reports can be viewed in a graphical format, compatible with Tableau, Power BI, and QlikView.

This visualization allows tax professionals to identify discrepancies in the calculated versus collected tax. It also significantly reduces compliance review time, which means a task that took weeks can be done in 15 minutes to one hour.

However, Synexus doesn’t believe in implementing the platform and parting ways with its clients. Its foundation rests on creating lasting client relationships.

“Because many of our employees are CPAs, we are able to designate a CPA to each client, to help them with their queries or to guide them in maximizing the platform’s potential. We are committed to helping our clients in the best way possible and giving them confidence that they are maintaining airtight indirect tax compliance,” says Timothy Howe, CPA, Co- Founder and CEO of Synexus Tax Solutions.

This integrated approach is especially handy for food and beverage (F&B) and hospitality companies with multi-state footprints. Since many franchises and restaurants serve alcohol, the complexity of tax grows as every state has a different alcohol tax rate, which is taxed differently for various distilled spirits. This complicates things when tax professionals start calculating the tax amounts across different states and spirits. Synexus Tax Solutions proves to be a saving grace for these F&B companies as they can manage the validation and reporting for all of these functions and rates.

  • Because many of our employees are CPAs, we are able to designate a CPA to each client, to help them with their queries or to guide them in maximizing the platform’s potential


In one specific instance, Synexus Tax Solutions assisted a multi-brand client operating in different states. It handled highly complex datasets and filed approximately 500 tax returns monthly. The client’s seven to eight-member team took days to collect, aggregate, and streamline the data, and then it took another week to review the data. Synexus’ platform accomplished the data aggregation task within two days, the return process and generation in less than four hours and reduced the review time to an hour and a half.

Similar successes constantly motivate the leaders of Synexus to build adaptive solutions that are a perfect amalgamation of recent technology and tax trends, making Synexus a go-to nationwide tax solution provider.

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Top 10 Tax Tech Solutions Companies – 2022

Synexus Tax Solutions

Company
Synexus Tax Solutions

Management
Timothy Howe, CPA, Co-Founder & CEO

Description
Synexus Tax Solutions’ solution focuses on multi-state indirect tax needs. Its automated tools can improve accuracy, lower costs, increase efficiency, and control risky audits. The platform leverages proprietary robotic process automation (RPA) to systematize the tax engine for end-to-end tax calculation and reporting, freeing up tax professionals’ time to focus on exceptions that need human intervention

Synexus Tax Solutions News

Synexus Tax Solutions™, LLC Launches Podcast "Taxing Poetic" Hosted by Tim Howe and Jenny Carter

Synexus Tax Solutions™, LLC, a leading provider of sales and indirect tax compliance solutions, launches podcast, "Taxing Poetic." The podcast offers valuable insights, expert advice and engaging conversations on sales and use tax-related topics.

ATLANTA: Taxing Poetic offers an exclusive platform designed for tax professionals, business owners, and individuals seeking clarity in the intricate world of sales and use tax without feeling overwhelmed. The podcast aims to cover a diverse range of sales and use tax topics, including recent updates from various states and regions, as well as presenting examples that illustrate the advantages and challenges of adhering to tax compliance.

Hosted by Tim Howe and Jenny Carter, the podcast brings a delightful blend of humor and lucidity to guest conversations, real-life case studies, and practical examples, all of which illuminate the nuances of indirect tax concepts and the associated challenges.

Listeners can access Taxing Poetic on popular podcast platforms such as Apple Podcasts, Google Podcasts, Spotify, and YouTube. With new episodes being released every two weeks, the podcast offers a consistent source of valuable content.

For the latest episodes and updates from Taxing Poetic, individuals can visit the official website at http://www.synexustax.com/taxingpoetic and follow the podcast's social media channels.