Alternative Audit Methods
Double Jeopardy!!!
You can wager up to double your score or 5,000 points, whichever is larger. Wrong answers will lose the points wagered.
What is the Cost of Goods Sold Multiplier for the following?
Gross Sales: 1,350,000
Cost of Goods Sold: 540,000
This is the name of the third party data related to bar purchases of alcohol?
Beer, wine, liqour
Are materials taxable to a contractor to be used in a capital improvement?
Yes
What does the hotel need to obtain to substantiate a non-taxable sale to am employee of the United States of America?
Form ST-129 or
where an employee or representative of the United States or any of its related governmental entities makes direct payment of the hotel bill, (such as with a federal check or standard voucher) the hotel must make a photocopy of the check or voucher.
Double Jeopardy!!!
You can wager up to double your score or 5,000 points, whichever is larger. Wrong answers will lose the points wagered.
All of the following are taxable:
Chocolate covered pretzels, bottled water from vending machine for $2.25, dog walking service with no pet sitting, and tea sold in a cup with lid.
Can you use an alternative method if the taxpayer has adequate records?
No, you should use the records to determine tax due
JE-BAAMMMM
Sorry!! Not Sorry!!
Are materials taxable to a contractor for use in repair and maintenance?
Yes, but can then request a refund.
The number of consecutive days an Airline has to book a hotel to qualify as exempt in NYC?
180
JEEE-BAAAAM!!!
Can't we just end the madness!!
Name two types of alternative audit methods?
Mark up test
Observation Test
External Indices
Third party
This is the name of the database where you can obtain individual Subway Restaurant sales reports provided by Subway Corp?
Franchises
What Regulation specifically discusses contractors?
Regulation 541 - Contractors
JE-BAAAMMMM!!!!
Let's just agree to burn this game to the ground!
Double Jeopardy!!!
You can wager up to double your score or 2,000 points, whichever is larger. Wrong answers will lose the points wagered.
From FAM District Office Contacts, this is the person responsible for Department of Tax Appeals Hearings.
JE-BAAAMMM
Can you believe you are the weakest link?
This is the name of the third party database related to credit cards?
Merchant Card Data
Double Jeopardy!!!
You can wager up to double your score or 2,000 points, whichever is larger. Wrong answers will lose the points wagered.
Are supplies used in exempt org capital improvement job taxable to the contractor?
A caterer has the following purchases, which items does the caterer have to pay tax on upfront and can't request a credit or refund?
Rental of chairs, hot chicken parm tray, rental of dance floor, rental of tents, childrens games, alcoholic beverages, hot coffee in to go containers
Chairs, dance floor, tents, childrens games
You purchase the following items from Petrie Grocery store in New Rochelle, NY:
Steak $13.99, Frozen Pizza $7.99, Dozen Roses $23.99, Rotisserie chicken (hot) $8.99, Batteries $5.99, Chapstick $1.99 and charges a 5-cent paper bag fee. What is the tax due @8.375%
$3.26, $23.99+8.99+5.99=38.97
Name two advantages to using an observation test.
Useful when business is still operating
Credit card % obtained can be applied to bank statement credit card deposits for audit period
Useful when taxpayer has taxable and non taxable sales (prepared and non prepared food)
Although a one day picture, its use has been upheld by the courts numerous times.
This is the third party report you would run if you are auditing a repair shop?
Insurance
Would accept Merchant Card
Name two categories of purchases for contractors?
Materials
Supplies and tools
Equipment and Rentals
What is the exemption certificate that a room remarketer uses to purchase a room?
ST-120.2
What is provided to the taxpayer to give them protest rights on a fully or partially denied refund?
The refund disposition letter.