3 tips for online sellers about drop shipping and sales taxes
Repost from Avalara Drop shipping can be a big boon for online sellers, especially small businesses that don’t have the funds or space to stock up
Repost from Avalara Drop shipping can be a big boon for online sellers, especially small businesses that don’t have the funds or space to stock up
Repost from Avalara It’s been said that by 2020, most aspects of our lives will be connected. We’re talking about the internet of things (IoT),
Use tax, the lesser known counterpart of sales tax, suffers from a basic lack of PR. Buyers and sellers alike pay it no mind. Despite 27 states having a dedicated line item in tax returns for reporting use tax owed, only 2% of taxpayers actually report it. This has left the states with a $23 billion deficit annually in uncollected use tax.
Like every New Year, 2016 will bring many sales tax changes. Rates will decrease or increase, there’ll be new product taxability rules, exemptions will expire or take effect, and there will be reporting changes. The only thing certain when it comes to sales tax is that change happens. And if often happens without much warning.
Bwaahahaha! Is that the ghostly laugh of a Halloween haunt — or the auditor reviewing your sales tax returns? Dealing with sales tax can be a ghoulish task. And for businesses with compliance obligations in multiple states, it can be frighteningly difficult to know which rules apply.
Organization: Whitaker Brothers Business Machines, Inc.
Users: 20
Current Solutions: MSFT Dynamics-GP and MSFT Dynamics-CRM
Modules: Core Financials; Inventory; Purchase Order Processing; Sales Order Processing (POP/SOP)
ISV Products Used: K-eCommerce; Avalara; FieldConnect
Life lessons. They’re never ending. There’s the stuff that you’d like to learn like paddle boarding, pasta rolling, conversational Spanish, and there’s the stuff that you have to learn, like web design, drywall hanging, and programming the DVR. We’re guessing sales tax falls into the latter category. Because, let’s face it, unless you’re a member of Mensa (or a masochist), sales tax is hard. And boring.
But now it doesn’t have to be. Avalara wrote the book on making sales tax easy. No seriously, we did. Okay, we had a little help on the “easy” part from the folks at For Dummies. Yes! That’s right; those massively popular bright yellow and black books that that offer useful instruction on, well, everything.
Marketplace selling can be a smart strategy for merchants who want to expand their business. But what if you don’t have the time, money or resources to fulfill more orders in-house? You could consider becoming part of an order management and fulfillment network such as Fulfillment by Amazon (FBA).
How much does your accountant know about sales tax? Maybe not as much as you think. A startling number of accounting professionals botched basic questions about sales tax, from online tax to nexus to audit risk (according to a recent Wakefield survey*).
Sign up for our mailing list to get the latest updates and offers.