Welcome to TEAM Equipment Leasing

TEAM Equipment Leasing is a National Company focused on commercial lending services. We will help you build your business with custom leasing solutions. Whether you need computer hardware and software leasing OR other capital equipment to improve your business, TEAM offers developed financing solutions to meet your unique commercial borrowing needs.

Equipment Leases

Up to $100,000 without financial statements for businesses 2 or more years old. And up to $65,000 for Brand New Businesses. TEAM can even assist companies with challenged credit. Call us toll free at 888-457-7550 and a trained professional will assist you with your questions.

TEAM is your Computer Hardware and Software Leasing Specialist!
Software Only Leasing! You may include Maintenance, Shipping, Installation & Training! This unique software only leasing service has helped many companies get the software resources so desperately needed to operate businesses today. Call us for details.

Master Lease Lines of Credit

Helping businesses acquire the technology and equipment needed so they can compete successfully. Whether you need $5000 or $5 million, TEAM can help your business plan for growth with a line of credit to cover all of your equipment needs.

Is Your Business Growing At The Rate You Want?

APPLY NOW!

If you wish to complete a credit application for your business, you may:
1. Download a Credit Application (in PDF format)
2. Request an application by calling us at 888-457-7550.

Vendor Programs! TEAM Equipment Leasing is focused on making it as easy as possible for your customers to buy from you, again and again!(Equipment Vendors click here)

CONTACT US: 7800 Shoal Creek Blvd. Ste. 202W. Austin, Texas 78757
Tel: 512.452.7550 / 888.457.7550 Fax: 512.452.7552
Email: info@teamleasing.com

SMART TAX USA: The Reverse Sales and Use Tax Audit

The reverse sales and use tax audit is also know as SUT (sales & use tax) Review or SALT (state and local tax) Review. It is similar to the audits conducted by state auditors except overpayment of taxes are researched on a reverse audit. The state typically looks for compliance issues, instances where you have not paid taxes that you owe. Smart Tax USA does the review and looks for overpayment, which are often overlooked by the state. The primary goals of a reverse audit are: 1) to discover overpaid taxes and get a refund, 2) file the necessary paperwork to avoid overpayments in the future.

There are many reasons why sales and use taxes may be overpaid by manufacturing companies. In many states the field auditors have become very aggressive in assessing tax, penalty and interest. This environment has caused the retailers and suppliers to be aggressive in charging sales tax to avoid a sales tax audit deficiency. Often, sales tax is charged even when the sale would be exempt. Other times they will in appropriately charge the tax because of no exemption claim or an invalid exemption certificate was submitted. Either way the purchaser may pay tax to the supplier that is not legally due.

An inadequate sales and use tax compliance system will allow tax to be paid in error. When working efficiently, the compliance system will provide reasonable assurance that exemptions have been claimed and that all tax is properly billed and paid. However, in many companies the compliance system is not operational. Business expansion, downsizing, and employee turnover are causes of compliance system failures. A compliance system failure can result in overpaid taxes.

Normally it is the responsibility of the purchasing function to make a claim for exemption (resale, industrial processing, non-profit, and government). If this is not done either through miscommunication or negligence, the supplier will normally charge the tax. If an invoice is presented for payment that includes tax, the accounts payable department should omit the tax if the purchase is exempt.

To conduct a reverse audit, Smart Tax USA must first develop a complete understanding of the client’s business practices. It is very important to identify and understand the manufacturing, warehouse and retail locations of the business, the product lines, and how the business pays sales and use tax. It is important to determine what exemptions may apply to their business. For the manufacturing location, it is important to identify where the manufacturing process starts and ends to take advantage of the industrial processing exemption. For warehouse and retail locations, there may be exemptions for certain processes. This can often be accomplished with a brief tour of the facilities and a detailed discussion with the appropriate personnel.

Next is a complete study and evaluation of the sales and use tax compliance system. The sales tax compliance system is analyzed in order to be familiar with the process of issuing sales tax on the clients’ invoices. The purchasing function is analyzed to obtain a deep understanding of how purchases are made and approved. A sample review of invoices is traced from the purchasing function through the payment and accounting of the acquisition. Particular attention is paid to the sales tax and use tax compliance function. The use tax compliance function is thoroughly analyzed to ensure a complete understanding of the process. During our review, we will look for weaknesses in the system that may allow for the overpayment of tax. Oftentimes a sample review of invoices will be made in order to identify adherence to company policy.

After the review of the business, the purchasing function, and the sales and use tax compliance systems are completed; a reverse audit work plan is prepared. The work plan will require the review of purchase invoices based on the compliance review where we have determined that there is a high probability for the overpayment of tax.

A review of the invoices will be completed to determine which invoices may have been erroneously remitted with sales tax. Procedures are then followed to recover the overpaid sales and use tax from the vendors and the state.

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SMART TAX USA, T 214-500-7056 , FAX 866-539-7906