DIY Telecom Tax Compliance and Regulatory Requirements – Part One
Thinking about DIY Telcom Tax Compliance?
Today, more and more Telecom providers are faced with the decision to either outsource their Telecom Tax Compliance or choose a DIY solution that is done solely within their organization. The majority of Modas customers understand that utilizing Modas Systems enables the support their organization needs in order to meet the service obligations of the interrelated state and federal rules.
However, we are occasionally asked “Why can’t we DIY Tax Compliance?” This is definitely an interesting and debatable question…
Telecom providers most certainly can DIY Tax Compliance.
However, why choose the DIY option when Modas alleviates your tax burden for nearly 80% less than what it would cost you to handle it in house? Our incredibly experienced team will manage the filings, licensing, product mapping, registrations and everything in between; while your company is able to reallocate those resources in a way that would be more beneficial to the growth of your revenue stream.
Thinking about DIY Regulatory Requirements?
Another common question we are often asked is regarding regulatory requirements.
Adhering to regulatory requirements is crucial to operating legally in the Telecom industry. Telecommunications is a necessary service in order for businesses to operate now-a-days; and, its governed heavily by state and federal laws.
Could your organization handle DIY regulatory requirements? Sure. You simply need to ensure you file all the correct paperwork, pay all the necessary taxes and implement best practices when it comes to regulatory requirements within Telecom. However, ff you fail to meet these regulations, you could be left with steep fines and huge delays in your business transactions.
The question you need to always ask yourself is, “Can my business survive the delays if I am hit with FCC fines?”
This is where Modas steps in. Why choose a Regulatory Requirements DIY option, when Modas takes on all the regulatory responsibility at the State and Federal Levels? Modas handles everything from the Secretary of State to registering with the Department of Revenue. We take care of all the forms, tax, fees, etc., on charged transactions (E911, sales tax, etc). You never have to worry and know you are always compliant with Tax and Regulatory Compliance when utilizing Modas.
If you have a question regarding your telecom and regulatory compliance, please contact us for a confidential consultation. In part two of this series, we will break down Tax and Regulatory compliance a step further. Check it out here.