The SALTcast
Welcome to "The SALTcast," your go-to podcast channel for unraveling the intricate world of sales tax. If you're a business owner seeking clarity on sales tax regulations, or a seasoned CPA aiming to provide your clients with impeccable guidance, this podcast is tailored just for you.
Hosted by industry experts from Peisner Johnson, the SALES TAX PEOPLE, with decades of experience in the field, "The SALTcast" is a comprehensive resource designed to demystify the complexities of sales tax and empower you with actionable insights. Our mission is to equip you with the peace of mind, knowledge, tools, and strategies necessary to navigate the ever-evolving landscape of sales tax regulations, ensuring compliance while optimizing financial outcomes.
What You Can Expect:
In-Depth Discussions: Dive into thought-provoking conversations that break down sales tax concepts, regulations, and challenges. Our experts delve into the nuances, sharing real-world scenarios and practical solutions.
Guidance for Business Owners: Whether you're a small business owner or a large enterprise, understanding sales tax is pivotal. "The SALTcast" offers advice to help you grasp the essentials. And, give you the peace of mind you need.
CPA Insights: If you're a CPA, you understand the vital role you play in guiding your clients through the intricacies of sales tax compliance. Join us as we explore different topics you need to know to help your clients.
Real World Examples: Learn through real-world examples and case studies that illustrate how businesses have successfully managed their sales tax obligations. Uncover strategies that you can implement to enhance your own practices.
Why "The SALTcast"?
Subscribe to "The SALTcast" today and embark on a journey towards understanding sales tax. Whether you're looking to enhance your business's financial health or provide exceptional guidance to your clients, our podcast will empower you to make informed decisions and thrive in a complex tax environment.
Tune in to "The SALTcast" on your favorite podcast platform and embark on a transformative learning experience. Your sales tax journey starts here!
The SALTcast
Want to Start Collecting Sales Tax at the First of the Year? You Can Do It! Here are the 5 Steps You Need to Take Now.
Is your New Year's Resolution for 2019 to start collecting and filing sales taxes? It can seem like an overwhelming and confusing task to take on yourself. We have been doing this for the last 25 years and have seen first hand just how complicated it has become. Now with the recent decision by the Supreme Court (Wayfair) it, it appears that many companies are deciding to just register and file. And it seems like they all want to make it effective January 1, 2019. In today’s podcast, you will learn what that would entail and how to get your business ready to start collecting and remitting sales tax. Listen in as Andy and Dan discuss the the 5 steps you need to take in order to make this happen by the first of the year and see the questions they answer.
Step #1: Start With Nexus And Taxability. Figure out where you have nexus first and consider if what you sell is even taxable.
- How do I determine my nexus footprint?
- Do I need to get registered everywhere?
- At what point can states force you to register?
- Can I register for sales tax myself?
- What can give me nexus?
- What if I have been doing business in a state for a long time without having a sales tax license?
- How do I know if my product is taxable?
- What should I do if I have a lot of sales tax exposure in a state?
Step #2: Evaluate Your Taxing System (POS, Website Shopping Cart, Amazon, Walmart, etc.)
- What do I do to make sure my shopping cart software is set up for sales tax?
- How to make sure my Amazon seller’s account is set up correctly for sales tax?
- Do I need to get some developers involved at this stage?
Step #3: Get Registered. States require you to register and/or obtain a license from them before you can collect tax on their behalf.
- Who can help me get registered for sales tax?
- Can I really register my company for sales tax on my own?
- Where is a good resource for doing the registrations myself? TaxJar has a great blog post with links to every state here.
- Are the states the same when it come to registering for sales tax?
Step #4: Turn On The Tax. You need to go into your settings in all of your sales channels and turn on the tax collection function to automatically start assessing tax on your sales invoices.
- How do I start collecting the sales tax?
- How do I avoid getting in trouble with sales tax in all the states?
- Can I start collecting the sales tax even if I haven’t gotten my sales tax registration yet?
Step #5: File the Returns. Once you've figured out where to collect the tax and you've collected the money, then the time will come when you actually fill out the returns and remit the funds. It may be annually, quarterly, or monthly.
- How often do I need to file sales tax returns?
- Can I file my own sales tax returns?
If you have questions or any concerns sign up for a FREE Strategy Call here:
https://www.SaltMoment.com/rac