FAQs
Here are some examples of Commonly Asked Questions. If you have more questions, don't hesitate to contact us.
- What exactly does Sales Tax Experts do?
- At Profit Recovery Solutions, we recover money for our clients in a variety of different ways. Our specialty is in recovering overpaid state sales and property taxes, which we have done for the last 12 years, recovering over several million dollars for our clients. We have also recovered money for our clients through the collection of duplicate payments, through managed sourcing programs, and through mitigating state tax audit assessments.
- We have an excellent Controller. Why would we need Sales Tax Experts?
- This may come as a surprise, but our clients who have the most internal tax knowledge tend to call on us the most. The reason, they recognize that the Tax Code is 1500 pages long and is updated annually. They feel that their Controller’s time is better-spent ensuring internal controls, managing budgets and driving results. They leave the arduous task of staying current on tax law and minimizing their tax burden, to us.
- Why are you so confident that you can recover money for my company?
- Two reasons: First, if you received this correspondence from us, it’s because we have done extensive work or research in your industry and have had success recovering profits for companies similar to yours. Secondly, if we’re not able to recover money for your company, it would be a first for Sales Tax Experts. In 12 years, we have never walked away from a client without being able to recover money for them.
- Why do I need to hire Sales Tax Experts immediately?
- It’s quite simple. The State Tax Commission works under a strict three-year statute of limitations. Which is good, in the sense that Profit Recovery Solutions can recover overpaid taxes for our clients for the past three years. However, this also means, that every month that a company waits to hire us, is a month’s worth of recoverable dollars lost.
- What is Tax Assessment Mitigation?
- Each month, the State Tax Commission audits and then levies a tax assessment on state companies. That’s where we come in. Profit Recovery Solutions will analyze the tax assessment and work with the Tax Commission to reduce the assessment. Here are three recent examples: 1. Large Construction company was given a $240K tax assessment. We turned the assessment into a $210K refund. 2. Large Home Builder was given a $100K tax assessment. We turned the assessment into a $30K refund. 3. Large Building Supply company was given a $450K tax assessment. We turned the assessment into a $190K assessment.
- OK, I’m convinced. I don’t want to leave money on the table. So, how will this work?
- It’s simple. We will do an evaluation of your recovery opportunities and make a proposal. Then, we do all the work and we don’t earn a cent until the money is in your hands.
- Why would anyone not hire Sales Tax Experts?
- This is a question that was asked of us recently by the CFO of a well respected Home Builder in Utah for whom we have recovered over $1.2 million over the past three years. Frankly, it’s the one question that we don’t have an answer for. We offer a no risk way to recover money for our clients that would otherwise go unrecovered.3