Episode 81

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Published on:

16th Feb 2024

The Power of Data: Vertex’s Approach to Keeping Pace with Tax Changes with Mike Bernard

In this episode of the SALTovation podcast, we speak with Mike Bernard, VP of Tax Content and Chief Tax Officer at Vertex, a global provider of indirect tax software solutions. As tax complexities increase and technology advances, Mike shares his invaluable insights drawn from his vast experience in the tax domain. We delve into the role of a Chief Tax Officer at a software company, the importance of understanding clients' unique needs, and the challenges of implementing and upgrading tax technology. Mike also shares insights on the future of sales tax compliance and the work Vertex does to advocate for administrative ease and efficiency in tax policy. 

Topics discussed in this episode:

  • Mike brings a wealth of experience from his background as US Tax Counsel at Microsoft and now as Chief Tax Officer at Vertex.
  • Vertex Inc. prioritizes staying current with tax updates through monthly data updates and maintaining solid professional relationships with Departments of Revenue.
  • The conversation highlights the importance of adaptable tax software in handling various sales scenarios, including bundles and emerging digital assets like NFTs and cryptocurrencies.
  • The need for upfront investment in understanding business systems to create efficient and compliant tax reporting solutions.
  • Engagement with Multi-State Tax Commissions and Departments of Revenue helps Vertex in navigating and influencing the administrative aspect of evolving tax policies without direct lobbying.

Quotables

  • “One thing that you find out at Vertex when you serve a larger community of customers is that you have to come with this idea that they're all on their technology journey. Nobody's ever the same. Even though they may be in the retail business as an industry, or they may be in oil and gas, or they may be in leasing, or they may be in financial services, they're all at a different place as you move along their journey as to how technologically capable they are of serving not just their internal corporation, but their customers.” -Mike Bernard [07:49]
  • “You always have to gauge yourself and give them the ability to move up or move down wherever they're at in that space and serve them the best that you can. some clients require a more handheld type of service and others, you can put things out there and give them a direction. then check back with them in a week and they will have accomplished some of the things that they set out to do.” -Mike Bernard [12:10]




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About the Podcast

SALTovation: Making Sense of State and Local Tax
Welcome to SALTovation. The SALTovation show is a podcast series featuring the leading voices in state and local tax (SALT). Here we talk about issues, strategies, and planning tools to help you make sense of SALT. Because, in SALT, there is no “one and done.” SALT is a puzzle of ever-changing pieces. Solving that puzzle is our business at SALTovation. Tens of thousands of listeners know they won't get tax talk as usual with the SALTovation team. Our team is known for straight-talk with a flair for fun, providing clarity and opinions that move businesses forward with confidence.

Attorney, CPA, speaker, and writer Judy Vorndran leads the SALTovation team as they go inside business to help deal with the daily operations and long-term strategies of making SALT less “taxing.” Judy has spent more than 25 years advocating for businesses with innovative strategies, renowned knowledge and experience. She has helped guide thousands of taxpayers across the nation and globally through the morass of SALT, freeing them to concentrate on growth. Joining Judy are the wickedly smart members of the SALTovation team, who have seen, worked with and tamed some of the most prickly issues in SALT. They enjoy sharing their stories and knowledge with listeners.

Solving the SALT puzzle doesn’t happen in a vacuum; it takes a community. So, we invite leaders in business and state and local tax to share their stories, challenges and successes on this show. Drop us a line at SALTovation.com if you'd like to join the conversation and tune into our regular series at TaxOps.com.