E-com Sales Tax

Quick-Show Notes:In this episode of The Millionaire’s Lawyer, JP, Jason Parr, and Paul Johnson discuss:Jason and Paul mention how things have greatly changed in the Tax world over the last few years.E-Commerce has made a great impact on how the government and states are looking at taxing businesses.Sales TaxTax on a transaction6% to 12% depending on the jurisdictionDifferent per stateHuge deal, aka, Margin Killer, if the sales tax is unpaidCan ruin selling your business should you not be compliantIn 2018 there was a Taxation case in the Supreme Courts in regards to where corporations are required to be registered and compliantJason and Paul state how important it is to have confidence regarding your taxation and make sure you have all jurisdictions covered in which you may be collecting tax.Collaboration builds confidence, outsource what you are not an expert in“What’s Next?” CallDo I have Nexus?Is what I have taxable in that jurisdiction? / Fully-taxable or partial?How do I sell?Market place FacilitatorIf yo

In a recent article from CPA Trendlines it states that 98% of small businesses are failing to fully comply to their sales tax responsibilities. Also, on top of that 71% of accountants falling short on helping their clients be sales tax compliant. Despite everyone knowing that sales tax is a requirement there are still many accountants and CPAs that are unaware on how they can help their clients. We work a lot with accountants, bookkeepers, and CPAs and I asked the team to come and talk about what a partnership with us looks like.Additional questions answered:How does Peisner Johnson help with sales tax?Do we compete in an accountants world?Why is it important to have sales tax knowledge?Where can I get educated in sales tax?Do I need to provide sales tax services for my clients?A What's Next Call is for everyone, this includes accountants, bookkeepers, and CPAs. Schedule your free What's Next Call with us here: pj.tax

They are called many things like; sales tax refund review, a reverse audit, or sales tax recovery project etc. No matter what you have heard it called or maybe you have never heard of it. It is important to know what it is, who would benefit from it, and why you should conduct one for your business. Today I invited Paul Johnson to talk about just that and why we include it on almost every one of our subscription contracts.Additional questions answered:What is a sales tax refund review?What are the benefits of a sales tax refund review?Why should you consider a sales tax refund review?Why would there be sales tax need to be refunded to me?Who would benefit from a sales tax refund review?When would it be beneficial to get a sales tax refund review?How does a sales tax refund review work?If you have considered getting a sales tax refund review done or you have never heard of it now is the time to get on a FREE What's Next call to see if this is an option for you. Schedule yours here: www.pj.tax

Because of economic nexus physical nexus often gets overlooked or even forgotten. With the pandemic a lot of businesses have allowed their employees to work remotely. Also, with todays technology, remote working is here to stay and will only become more popular in the future. This will trigger companies to have physical nexus and will require them to get registered for sales tax wherever they have employees. I invited Jason, Paul, and Danny to talk about this and more.Additional Questions Answered:What should I be looking at to determine nexus?Should I be concerned about physical nexus?What does a Free What's Next Call consist of?Does inventory cause nexus?Does every state have physical nexus laws?What do I do if I do have nexus?If you haven't explored your potential sales tax nexus schedule your FREE consultative discovery call here: www.pj.tax

There were only a few states that were holding out from enacting any marketplace place facilitator tax laws one of them was Kansas. I gathered Jason Parr, Paul Johnson, and Danny Wright to chat about what this all means.Additional Questions Answered:What are marketplace facilitator tax laws?What is economic nexus?Do I still need to worry about physical nexus?What are the economic nexus thresholds?If you are unsure whether or not you should get registered to collect tax in Kansas just get on a FREE consultative call with us and we can help you make that determination. Schedule your call here: https://peisnerjohnson.com/whats-next/

Having an online store is almost a necessity these days in order for your business to grow. Many use their online store to be able to sell their products globally! There are a lot of online shopping store software choices out there. All of your options have pros and cons to them but there is one feature that is almost never talked about that we find is essential. That is sales tax integration. Join us today as we talk about sales tax and what you should consider when you are trying to decide which provider to go with.What is an online shopping software?What are some sales tax benefits should I be looking for?What integrations should an online shopping software solution have for sales tax?What are ecommerce sellers looking for in a online shopping platform?As a business what sales tax requirements do I have?If you would like to talk about your sales tax responsibilities schedule a FREE consultation here: https://peisnerjohnson.com/whats-next/

There are really 3 different methods of sales tax compliance; in house, automated technology providers, and outsourcing of course. No matter how your sales tax compliance is handled a recent survey done suggests that 71% of people who are in charge of sales tax in their company are unhappy with their current solution. In today's episode we talk about the different methods of sales tax compliance and what would work best for you.Additional Questions Asked:What are my sales tax compliance options?What are some difficulties do you run into with in house solutions?What do I need to know about collecting and filing my sales tax returns?What are some difficulties do you run into with automated technology solutions?What are automated sales tax technology solutions?What are the biggest complaints with sales tax technology solutions?What does sales tax compliance look like if I outsource to Peisner Johnson?If you are one of those that aren't happy with their current sales tax compliance solutions. Get on a F

We love working with CPAs. Our relationships with CPAs are complimentary, since our area of expertise is in sales and use tax. In general, CPAs are looking for sales/use tax experts, since they typically like to focus on other tax matters. In today’s podcast, we are going to be talking with Jeff Bickel. Jeff has been with Tanner for over 15 years, and has spent the last 10 years acting as the managing partner in Salt Lake City, UT. As we commonly are talking about What’s Next, we thought it would be very helpful to learn from Jeff about what he and Tanner would cover in one of their own introductory calls with clients.Additional Questions Answered:What is your story?What services does Tanner LLC offer?How were you introduced to Peisner Johnson?What are the common questions you get regarding income tax?What are the common questions you get regarding accounting issues?You can learn more about Jeff Bickel and Tanner LLC HERE.

E-commerce is expanding worldwide. Companies from all over the world are continually expanding their current company, and/or open e-commerce businesses in the USA. We speak daily with international companies that want to know what they need to do to start their business in the USA. Our guest for this episode is Scott Letourneau with NCP, the U.S. e-commerce expansion experts. We address a couple of the most common questions we get.Questions Answered:Is it recommended to set up a US entity in order to do business in the US?Is it recommended to have a US bank account to do business in the US?Do you need a US bank account to file sales tax returns?You can learn more about Scott and NCP here: www.launchwithconfidence.com/

We have a lot of What's Next Call's each week and we see a lot of similar situations. In today's episode we will be covering the biggest hurdles we see when it come to filing sales tax returns.Additional Questions Answered:What is sales tax compliance?What are the steps to becoming sales tax compliant?What happens if I decide not to get compliant when I should?What are some changes states make to filing requirement?Has it gotten easier in some states to file sales tax returns?What do I do next?If that is your question, "What do I do next?" You can schedule your FREE What's Next call here: https://peisnerjohnson.com/whats-next/

When it comes to being compliant with sales tax in a state it is important to know the steps to take to get there. After recognizing your sales tax nexus footprint the next step is getting registered for sales tax in the states where you have nexus. In today's episode we discuss they information, steps, and what to expect when you get registered for sales tax.Additional Questions Answered:What information do states require to get registered for sales tax?Is the information the same for all states?Can foreign companies get registered for sales tax in the several states?How many states should I get registered in?How long does the sales tax registration process take?If you would like some help getting registered to collect sales tax, or you are unsure if you even need to you can schedule your free What's Next Call here: https://peisnerjohnson.com/whats-next/

In the wake of many businesses being bought and sold this year I invited Jason Parr our CEO here at Peisner Johnson to talk about due diligence on the sales tax side. With due diligence sales tax liabilities are often uncovered but on the other side sales tax overpayments are also discovered. Listen in as we dive into these matters.Additional Questions Answered:First of all, What is due diligence?Can sales tax liabilities affect the sale of a business?What does sales tax due diligence look like?How can sales tax overpayments affect due diligence?How can sales tax overpayments affect a sales tax liability?If you are buying or selling a business and you would like to look into getting the proper sales tax due diligence performed, look no further. Sign up for your free What's Next call today. https://peisnerjohnson.com/whats-next/

This Holiday season will probably set a new record of online sales. Not only is online sales just rising in popularity but, this global pandemic is still raging and demanding that we stay home whenever possible. This may put a lot of online sellers over the economic nexus thresholds requiring them to get registered to collect and remit sales tax. I'm sure that many will have enough stress trying to match the demand that their business commands and sales tax won't even be on their radar. That's why here at Peisner Johnson we want to take the sales tax stress off your mind and give you the piece of mind you need. Additional Questions Answered:What economic nexus thresholds do states have?What do I do if I meet the economic thresholds?How do I know if my product is taxable?Do I have to get registered immediately after I figure out I have economic nexus?What are my next steps to register for sales tax?If you haven't been on a What's NexT call with us yet now is the best time to schedule y

Our biggest goal here at Peisner Johnson is to bring peace of mind to those that have to deal with sales tax. If you sell products or services you are probably subject to some level of sales taxes. Sales tax laws are constantly changing. When you are out on the internet looking for the answers you need more often than not you come out the other end more confused and stressed out. We have created a simple process to help you with the not so simple subject of sales tax. It all starts with what we call a What's Next call. Today I have invited Jason Parr our CEO, Paul Johnson our VP of Operations, and Danny Wright our Director of Marketing and Sales to discuss what this FREE What's Next call looks like and how it can bring you peace of mind.Additional Questions Answered:What is a What's Next call?What will be addressed in this call?Will you be trying to sell me your services?If you haven't been on a What's Next call or you would like to get on another one schedule yours here: https://peis

Sales tax is like a suspenseful thriller. Whenever you think you can predict what will happen a new twist appears and you are back to the edge of your seat. I invited Paul Johnson back to today's podcast because he is always at the edge of his seat when it comes to sales tax. He is always up to date with the ever changing sales tax laws and is very knowledgeable. Come listen in as we discuss Tennessee's changes and what you need to do next.Additional Questions Answered:What was and what is Tennessee's nexus thresholds?Why are these changes in Tennessee significant?When will these changes come into effect?How do you calculate whether or not you meet the economic nexus threshold?Quick tip: Make sure and not overlook your physical nexus?If you would like to discuss if you need to register for sales tax under economic nexus thresholds let's chat. Schedule your time now. https://peisnerjohnson.com/whats-next/

With states opening back up I wanted to talk to Dan Peisner, CMI, to see  what we can expect states to do to recoup tax losses over the last few months. We have already seen a flurry of new laws and the restructuring of economic nexus laws. What more can they do?Additional Questions Answered:Are states going to be performing more sales tax audits?How can I prepare for a sales tax audit?What will states be looking for during these sales tax audits?Who will the states be going after?What are some mistakes businesses are making?What should you do first before an audit starts?How will ecommerce sellers be impacted?If you find yourself in a sales tax audit or you fear that your turn is next. It is never too late to get on a FREE "Wha't's Next?" call with us today. Schedule yours here: https://peisnerjohnson.com/whats-next/

The state of Washington has temporarily extended their VDA program they rolled out until November 30th of 2020. For some this could be good news, but for most it won't have any effect. Dan is or Director of Projects and definitely knows a thing or two about getting VDAs done. We talk about this program extension and how you may be able to use it to your advantage.Additional Questions Answered:What is this VDA Program?What makes it different from the typical VDA program?Who qualifies for this extended program?Who doesn't qualify for this extended VDA program?Can you ONLY get a VDA done during these brief VDA program dates?What do we cover in a "What's NexT?" call?If you would like to discuss your eligibility for a VDA you can schedule your free "What's NexT?" call HERE: https://peisnerjohnson.com/whats-next/

Most states already have marketplace facilitator tax laws with only a handful of states that haven't quite rolled them out. One of those states was Louisiana. I asked Paul Johnson our VP of operations to join me to talk about Louisiana's new marketplace facilitator tax laws and economic nexus thresholds.Additional Questions Answered:What makes the release of these laws in Louisiana significant?What are the parameters of the marketplace facilitator tax laws?What are the economic nexus thresholds in Louisiana?What makes marketplace facilitator tax laws so confusing?If a state has marketplace facilitator tax laws do you have to register to collect sales tax in that state?Can I deregister for sales tax in states that have marketplace facilitator tax laws?If you are concerned about your business or your clients business. A free "What's NexT?" call could be all you need to get the peace of mind you deserve. Just fill out this form to schedule yours today!

Getting compliant with state sales tax requires informed counsel. Somebody that can help identify your nexus and what you should be paying. Somebody more specialized than your CPA. In this podcast, I invited Jason Parr, our President/ CEO, and we’ll look at why you need both.What does Peisner Johnson do?How does Peisner Johnson work with CPA Firms?What are some services that Peisner Johnson offers?What ongoing support can Peisner Johnson offer?How can a CPA partner with Peisner Johnson?If you are looking to know what your sales tax liability is or you are a CPA or accountant and you would like to make sure your client is compliant. Sign up for a FREE WHAT'S NexT call here: https://www.peisnerjohnson.com/whats-next/

Many companies will discover that they have a physical or economic presence in a state and decide to get registered in a state or multiple states. What we often see is that at this point when they attempt to do these registrations that there are questions that they are unsure of how to answer. Sometimes they will push through and it turns out that they applied for the wrong tax license. And a whole big mess ensues. It's no question that with new nexus and sales tax laws, getting registered for sales tax is more complex than ever. I invited Paul Johnson, VP of Operations here at Peisner Johnson, to answer some frequently asked questions about getting registered for sales tax.Additional Questions Answered:How do I know if I need to register for sales tax?How do I register for sales tax?What is the difference between sales tax and use tax?What is sellers use tax?What is the difference of an out of state seller and an instate seller?Do I register for sales tax for a past date?Do I register for sales tax usin