PST remitance audit anyone had one done?? - Car Audio Forumz - The #1 Car Audio Forum

General Discussion General discussion about all things car audio, from pioneer, orion, alpine and eclipse.

PST remitance audit anyone had one done??

Closed Thread

 
 
 
Old 06-02-2008, 10:21 AM
  #1  
500 Watt CAFz'r
Thread Starter
iTrader: (1)
 
PT-Chris's Avatar
 
Join Date: Sep 2002
Posts: 514
PST remitance audit anyone had one done??

Just like the topic says.

We are having one done on us right now(no problems we have a a bookkeeper and accountant and we pay on time all the time) and what they are trying to do is establish an average mark-up on our sales, which is total bullshit as we dont sell everything at a specific mark-up.

So my ??? is, if you have had one done how did they arrive at what you should have collected in tax??

Thanks for any input


Cheers

Chris
PT-Chris is offline  
Old 06-18-2008, 12:42 PM
  #2  
1000 Watt CAFz'r
 
dB Don's Avatar
 
Join Date: Aug 2000
Posts: 1,113
They will go through your books, account deposits, sales systematically compare company income with deposits. so if you sold a used personal product through the store and did not charge tax they will consider that taxable.

So basically if you sold X amount of product it should match up with deposits and if it does not match up with deposits they give you a bill for the tax for un-recorded sales.

So hope you don't have deposits in the accounts they are auditing that cannot be accounted for.

And beleive me when I say they always find "something" because someone has to pay their wage and make that division of the government profitable.
dB Don is offline  
Old 08-04-2008, 11:39 PM
  #3  
1000 Watt CAFz'r
iTrader: (1)
 
mike bisson's Avatar
 
Join Date: Feb 2004
Posts: 1,156
I had one back in 2001 and it was a pleasant experience actually

Just make sure you have all the information they ask for ready for them

I have always been careful about having receipts/invoices/cheques for everything

My audit only lasted 3 hours... the lady told me not to bother with invoices for anything under $5 (I still do).

It is routine for any small business within 5 years. Just show them everything
mike bisson is offline  
Old 08-13-2008, 09:45 AM
  #4  
500 Watt CAFz'r
Thread Starter
iTrader: (1)
 
PT-Chris's Avatar
 
Join Date: Sep 2002
Posts: 514
Well were getting ****ed by them

They don't care about any of our numbers, they have taken our purchaces multiplied them by an average industry markup of 2.01 %

So there saying we buy a double din at $1000 and sell it for $2001 dollars which all you know is not right.

So for 2004 for example we have sales of $250,000 we calculated our markup to like 1.30% but there saying 2.01% so there literally saying we have sales of $500 000 for that same year so they want 7% of the unrecorded $250,000 which is so crazy!!

We have paper work that shows everything and everythign adds up but apparently that means nothing?


So on that double din sale there saying we write an invoice for $1300 + tax and pocket the $700 of unrecorded sales WOW I WISH

WTF!!!
PT-Chris is offline  
Old 01-07-2009, 10:59 AM
  #5  
500 Watt CAFz'r
iTrader: (2)
 
SQmonster's Avatar
 
Join Date: Jun 2008
Posts: 793
Originally Posted by PT-Chris View Post
Well were getting ****ed by them

They don't care about any of our numbers, they have taken our purchaces multiplied them by an average industry markup of 2.01 %

So there saying we buy a double din at $1000 and sell it for $2001 dollars which all you know is not right.

So for 2004 for example we have sales of $250,000 we calculated our markup to like 1.30% but there saying 2.01% so there literally saying we have sales of $500 000 for that same year so they want 7% of the unrecorded $250,000 which is so crazy!!

We have paper work that shows everything and everythign adds up but apparently that means nothing?


So on that double din sale there saying we write an invoice for $1300 + tax and pocket the $700 of unrecorded sales WOW I WISH

WTF!!!
So, how did it work out?
SQmonster is offline  
Old 02-28-2009, 12:50 AM
  #6  
500 Watt CAFz'r
iTrader: (1)
 
Sikk Nation's Avatar
 
Join Date: Oct 2008
Posts: 992
I'm assuming reallt well. Checked his last few posts.. Selling the stores demo boards. I Can only assume the worst.
Sikk Nation is offline  
 
 
 
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
madwarrior
General Discussion
23
02-01-2011 12:35 AM
PsychoAcoustics Canada
Canadian General Car Audio Discussion
8
07-14-2010 06:03 PM
dasnegro
General SQ
19
06-27-2009 07:42 PM
thumpper
Off-topic Chat
5
12-15-2008 09:40 PM
98_Z24
General SPL
2
10-25-2007 05:08 PM


Thread Tools
Search this Thread
Quick Reply: PST remitance audit anyone had one done??


Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.