The SALTcast

How do you know if you have any risk of getting audited for sales tax? Are you making sure that you are prepared for sales tax audits? We have developed a FREE tool that you can fill out yourself to help you to determine whether or not you have something to worry about. Listen in as we discuss this tool and go through each question in the questionnaire.

Additional Questions Answered:

• How do states find me for sales tax audits?
• What puts me at risk for a sales tax audit?
• Can I avoid a sales tax audit?
• What kinds of activities cause us to have nexus?
• How do I know whether or not my products are taxable?
• Do I have sales tax exposure and liabilities in other states?

Get access to the FREE STARDT TOOL.

Set up a FREE consultation with me HERE.

Watch the video walkthrough of the STARDT Tool HERE.

If you would like to get more up to date information we have FREE Webinar you can Attend REGISTER HERE.

The definition of nexus has changed dramatically over the last year. Physical presence used to be the ONLY nexus determinator but now you ALSO have economic nexus issues to worry about. We believe that every business needs a nexus review. Listen in as we discuss the different steps to a nexus review and how it will benefit you and your company.

Additional Questions Answered:

Can I get away with ignoring sales taxes altogether?

What can I expect from a nexus review?

Why do I need a nexus review?

Why can I expect to pay to get a nexus review done?

What can give me nexus?

What are the next steps after a nexus review?

What happens if I established nexus years ago without knowing it?

Get the 10 Most Common Nexus Creating Activities HERE.

Get your Nexus Review Started HERE.

If you would like to get more up to date information we have FREE Webinar you can Attend REGISTER HERE.

On April 1, 2019, California's economic Nexus Laws went into effect. Well, they might as well have said "APRIL FOOLS!" There is already an amendment to the Economic Nexus laws already sitting on the governor of California's desk! Find out what you can expect here! Also, with the fallout of the WAYFAIR decision, all eCommerce businesses need to act! You may have a large nexus exposure or you may not need to do anything, whatever the case may be you need a NEXUS REVIEW to message me and we can get you set up for yours today!

Additional Questions Answered:

What are California’s economic nexus thresholds?

If California’s nexus laws change what will be the new thresholds?

Will other states follow suit with these changes?

What do I do until the laws change?

Will California come after me if I meet their old thresholds but not the new?

What is a nexus review?

Why do I need a nexus review?

What can I expect to learn from a nexus review?

How do I get a nexus review done?

If you are on the fence of whether or not you should get a Nexus Review done you can contact me at [email protected] to set up a Free Consultation.

Listen, we all want donuts but do we actually need them? Can they really bring joy to our lives and give us the energy and nutrients that we need? Maybe… Same with the marketplace facilitator laws. We would all like to have Amazon, eBay, or Shopify collect and remit the sales tax for us in every state, that would be amazing right? Or, would it? For some eCommerce sellers, these marketplace facilitator laws are a breath of fresh air after the stress of the new Wayfair laws but for most, it can cause even more stress and headache. Listen in as we discuss these laws and how they can affect you!

Additional Questions Answered:

• What are marketplace facilitator laws?
• Who is affected by marketplace facilitator laws?
• Do companies still need to register in states that have marketplace facilitator laws in place?
• Can companies de-register if they are already registered in marketplace facilitator states?

Do you have a client that has questions that need immediate answers just reach out to us by filling out this FORM to get a FREE strategy call.

Our most popular podcast is simply about drop shipping and we continue getting a lot of questions about drop shipping. This weeks podcast is simple, answer a couple of commonly asked questions. Join us and really soak up Andy and Dan’s knowledge.

Questions Answered:

• What do I need to do to close my business when it comes to my sales tax requirements?
• How often should I collect exemption certificates?
• How do I obtain an exemption certificate?
• Will my exemption certificate from my home state work for other states?
• What should I do when  my drop shipper wants an exemption certificate from California?

If you have additional questions or you have some immediate concerns get on  a FREE consultation with us by filling out this FORM.

We recently had a client reach out to us asking us what they should do about a recent letter they received from the state of Washington. The letter seems innocent enough. The state seems to be giving companies an opportunity to remit any unpaid consumers use tax. This seems like an odd tactic. Who else but the Government could use this tactic to get more money? Come learn with us today on what it is Washington is trying to do and how you should handle it.

Additional Questions Answered:

• If I ignore this letter from the state of Washington, will the letters remain friendly?
• What is the consumer’s use tax in Washington?
• How do I know if I owe consumers use tax?
• How far back do I need to look for use tax?
• Will there be any penalties and interest due with the tax?
• When is the tax due?
• According to the chart on the letter I may owe one amount but what if I really owe more?

If you have received one of the letters or a letter from another state and you need some answers. Please fill out this FORM and we can get on the phone ASAP.

While all of the amazing advances in technology area make it easier to sell your items to customers in the US from all over the world, it can be frustrating trying to understand the tax laws you have to deal with. 

This could get you into a lot of trouble with the US government. We frequently have conversations with eCommerce sellers that are based outside of the United States and they usually have pretty much the same questions. 

Andy and Dan join us today to answer these questions and help you get your business on the right track.

Additional Questions Answered:

Q: Do I need a US entity to sell in the US or collect sales tax?

A: A US entity is not required to sell in the US or collect sales tax. We have many clients that keep their foreign entity and some that operate as sole traders/proprietors. In some instances opening a US entity can complicate income tax requirements. You could have US-sourced income to report in that case and you could end up owing federal income tax and in some cases state income tax.

Q: Are there any benefits of opening a US entity?

A: It could help you if you need to set up a US bank account (see below). Also, if you are working with US suppliers, some of them may require you to operate as a US entity. 

Q: Is an EIN/FEIN required to sell or collect sales tax?

A: Most states require an EIN (aka FEIN) to register to collect sales tax. An EIN is generally not a legal requirement to sell in the US. However, some suppliers may require it if you are making purchases in the US. You can obtain an EIN directly from the IRS, or we can assist you in getting an EIN if so desired.

Q: Is a social security number or ITIN (Individual Taxpayer Identification Number) required to register for sales tax?

A: If you are a US resident you must have either an SS# or an ITIN.. If you are not a US resident, you are not required to have either one. 

Q:  Am I required to have a US bank account in the US to file sales tax returns?

A:  When filing the returns online, most states require you to have a US bank account because of the ACH limitations. We do not require our clients to use a US bank account to file sales tax returns, remit taxes to the states or for any of our other services. However, the states often require a US bank account to pull the taxes. We have helped companies outside the US and can probably help you also.  

Q: Can you assist with or complete forms such as the W-8BEN-E or W-8BEN forms?  

A: Yes, we can assist or complete your W-8BEN-E or W-8BEN forms.  

Q: Can I have my mail from the various states sent to your firm?  

A: Sure, this is part of our sales tax return services. If you are a client, we will give you our address to use as your mailing address.

If you feel you need help with any of these things we offer a FREE Consultation SIGN UP HERE

Watch the video of the podcast HERE.

We recently got an email from a concerned business owner because they got a letter from California stating they have nexus in California and they must register to collect sales tax. They quickly complied trying to do the right thing. Not too long after they received another letter from California stating that they may owe back taxes and requested information going back a few years. They reached out to us wondering what they can do about the impending back tax exposure. This is something Dan deals with almost daily. Come learn what you can do if something like this happens with California and any other state. Also, we have available a report that can make your business decisions when it comes to sales tax.

Additional Questions Answered:

• What do I do when I get a letter from a state?
• Should I just register in every state?
• How can I mitigate my back tax exposure?
• How do I negotiate with the state to get my exposure down?
• Can I do a VDA even if a state has found me and sent out a letter?

Did you get a letter?...

To get with us for a FREE Strategy Call go HERE.

Get your FREE REPORT HERE.

 Are you aware of your sales tax liabilities? Are you aware of what the Wayfair Supreme Court decision can mean for your company? Who is responsible for making you aware of these things? When you have potential tax risks, who do you trust to make sure that you are being advised of it? Your Tax Accountant right? However, the person you trust to handle your taxes may not be up to speed about sales tax. You may think that you have no tax liability because your Accountant hasn’t said anything to you about it, but, in reality, you may have a huge sales tax liability looming over your head. Does this mean that your tax accountant is at fault? Should you sue them for the sales tax liabilities/damages? Listen is as Dan and Andy discuss this very subject.

Additional Questions Answered:

• Should CPAs be concerned about Wayfair?
• Can I really sue my accountant for not advising me on sales tax?
• How can I make sure my sales tax exposure is being handled?
• How have I been affected by Wayfair?
• How can I make sure that I don’t have a lot of sales tax exposure?
• Should I be upset my accountant hasn’t advised me of my sales tax?

To get with us for a FREE Strategy Call go HERE.

On today’s podcast we caught Dan while he was on the road visiting a client. The client had just run into some issues dating back to a few years ago when they acquired another business. A common thing to overlook when doing your due diligence before selling or acquiring a business is sales tax. Having a lot of sales tax exposure could really hurt the sale of your company. Also, if you are acquiring a business and neglect going over the sales tax issues during the due diligence process, it could come back to haunt you years later. Andy and Dan discuss “The 3 Gotchas” when it comes to sales tax, those include; Nexus, Exemption Certificates, Returns, and a Bonus 4th Gotcha. Today you can learn how to protect yourself and your clients.

Additional Questions Answered:

What sales tax liabilities should I be worried about when I sell my company?

What sales tax liabilities should I be worried about when I buy a company?

What kind of sales tax due diligence should I do when I buy a company?

Why should I care as the acquiring company about the past sales tax liability of the target?

How do I know where they have Nexus?

What is nexus?

Is physical presence what causes nexus?

What causes nexus now?

How has the Wayfair Supreme court decision changed how nexus is defined today?

What kind of liability do I have if the company I am buying hasn’t been collecting exemption certificates?

What kind of places accept exemption certificates?

Do I need to collect exemption certificates from companies that are tax exempt?

What happens when the company I am acquiring hasn’t been filing sales tax returns?

To get with us for a FREE Strategy Call go HERE.