At the current time news, recommendations and policies seem to be changing by the minute!
It’s our hope that you, your family, and your business are doing well despite all the uncertainty.
Many entrepreneurs have taken this time to pivot their business or add new services.
We want to congratulate you on being resilient and creative during this time, we know it’s not easy!
Has Your Business Added New Services?
If you have added new services take some time and research if these new services will affect how you pay sales taxes. For example, if you are now selling a type of product, this could include an online course or material, you could now be subject to sales tax depending on your state.
When Will You Pay Your Sales Tax?
The next question to research is when will you pay your sales tax? These dates vary from semi-annual, quarterly, or monthly depending on your volume and your state.
Have you made a plan on how and when you will pay your sales tax?
Want more accounting tips and tricks or help in understanding your financials? Download our financial goal setting worksheet.
Resources for you to reference
https://www.avalara.com/simplify/en/avatax/download-tax-rate-tables.html
https://www.avalara.com/us/en/learn/nexus/find_your_nexus.html
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