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TAS 642: SALES TAX and Best Practices for Ecommerce and Amazon Sellers (2019 Edition)

TAS 642: SALES TAX and Best Practices for Ecommerce and Amazon Sellers (2019 Edition)

FromRock Your Brand Podcast


TAS 642: SALES TAX and Best Practices for Ecommerce and Amazon Sellers (2019 Edition)

FromRock Your Brand Podcast

ratings:
Length:
48 minutes
Released:
Mar 6, 2019
Format:
Podcast episode

Description

Is your ecommerce business prepared to handle new sales tax changes that multiple states are adopting? Have you been worried about sales tax compliance and find yourself desperately looking for answers? If so, you’ve come to the right place! On this episode of The Amazing Seller, you’ll hear from Scott and his guest, Martina Chavez from Avalara. In her conversation with Scott, Martina talks about the recent Supreme Court ruling involving Wayfair, the solutions that Avalara has created for sellers, what you need to do to make sure your business is in compliance, and much more. Don’t let the stress of tax stuff distract you! Get the critical information you by listening to this episode! What happened with the Wayfair case? If you avidly follow ecommerce news, it's likely that you’ve heard of the Supreme Court case involving the ecommerce business, Wayfair. For those of you who missed the big news, here is what happened in that case. Basically, the ruling decided that states may charge sales tax on purchases made from out-of-state sellers, even if the seller does not have a physical presence in the taxing state. This was a major change overturning a case from 1992 which stated that the Dormant Commerce Clause barred states from compelling retailers to collect sales or use taxes in connection with mail order or Internet sales made to their residents unless those retailers have a physical presence in the taxing state. If you are wondering if this new decision affects your ecommerce business and the state you operate out of, make sure to check out the resource that Martina and her team at Avalara put together, you can find it in the resources section at the end of this post. How new and seasoned sellers can make sure they are in compliance. Now that you have a basic idea of what happened with the Wayfair case, you’ll probably want to know how that impacts your ecommerce business. For sellers starting out, this process is easy, start by registering to collect sales tax in your current state (unless your state doesn’t collect sales tax). From there, depending on your volume of sales, new sellers should start the registration process for collecting sales tax in the most populated states like Texas, California, and Flordia. You can also wait and just watch where most of your sales are coming from and start the process in those states. For more seasoned sellers, the process will prove to me a bit more complicated but not impossible! Basically, follow the same steps as the new sellers need to follow, but you also need to respond to any letters that any states have sent you regarding sales tax compliance. Another good option for many seasoned sellers to submit a Volunteer Discolusre Application (VDA) that allows you to get into compliance with a large up-front sum of money that you have to pay. The information that Scott and Martina have provided regarding sales tax compliance is only a starting place for sellers like you. Make sure to consult with your professional accountant to ensure that your business is on the right track. Tax compliance solutions from Alvara. Let’s face it; all this tax talk is complicated, confusing, and often overwhelming. What if there was a way to cut through all the complexity and trust that all of your tax obligations were taken care of? Good news! The folks at Alvara have worked hard to create a whole line up of solutions that small business ecommerce sellers like you can use. You can let Avalara handle your sales tax compliance and get more accurate bookkeeping in the process. Avalara can automate sales tax rates, prep, filing, and payment. To hear more about Avalara and the amazing work they are doing to help small business owners, make sure to check out the link to their site located in the resources section below! OUTLINE OF THIS EPISODE OF THE AMAZING SELLER [0:03] Scott’s introduction to this episode of the podcast! [3:30] Scott welcomes his guest, Martina Chavez. [8:15] Martina talks about the recent c
Released:
Mar 6, 2019
Format:
Podcast episode

Titles in the series (100)

How do I start an online business? How do I build a brand online? How do I get traffic and attention to my online business? The biggest question is, can I start a business online and replace my current JOB? Welcome to The Rock Your Brand podcast show where we answer ALL of these questions and a ton MORE! Scott Voelker, the host will share with you everything you need to know and help you to build a Future Proof Business that will allow you the ultimate Freedom. Scott shares tips and strategies he used himself to build multiple 6 and 7 figure businesses over the past 18 years. Along with sharing Scott’s tips and strategies, he also interviews top business experts, such as Pat Flynn, John Lee Dumas, Rick Mulready, James Clear, Chris Ducker and so many more. Scott also shares his private coaching calls with listeners and students to show exactly what it takes to build a successful online business and brand. With millions of downloads and counting, The Amazing Seller “The Take Action Effect” movement is growing everyday and now it’s YOUR TURN to create the life you want and deserve. Are you in? Let’s Do THIS!