Sales Tax Filing Tips for Online Sellers

with MARK FAGGIANO CEO OF

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SALES TAX FILING TIPS

FOR ONLINE SELLERSNever worry about sales tax. Ever.

THIS WEBINAR IS FOR PEOPLE WHO...

• Have collected sales tax and need to file • Are apprehensive about sales tax filing• Find sales tax filing taking up too much valuable

time

Copyright © 2016 TaxJar. TaxJar is a trademark of TPS Unlimited, Inc. 2

”“

“I hate filingsales tax returns”

3/2/16Copyright © 2016 TaxJar. TaxJar is a trademark of TPS Unlimited, Inc. 3

– Average TaxJar Customer

GOALS

• Find your sales tax filing due dates• Use TaxJar to report your sales tax collected• Troubleshoot common collection & reporting

issues • Use TaxJar to file a sales tax return• Questions!! (use the chat section to the left)


QUICK INTRO:• Passion: using tech to solve

problems for small business!

• Founded TaxJar in 2013

• Not a CPA or tax professional• Talked to thousands of online

sellers, pros, auditors, states

• Here to help you make informed decisions


WHEN DO I FILE RETURNS?


HOW OFTEN DO I FILE?

• Your frequency is tied to how much you collect• The more tax you collect, the more frequently you file

• Frequencies• Monthly• Quarterly• Semi-annual• Annual• Fiscal Annual


DEADLINES

• Filing deadlines are between 15-30th of the month• Different in every state

• States tend to change frequencies in January• Look for a letter from your DOR


TYPICAL FILING SCENARIO

• eCommerce business filing returns in 3 states• Monthly in one state (20th of each month)• Quarterly in another (last business day of the month)• Annually in the third (25th of the month)


STEPS TO FILEA SALES TAX RETURN


IT’S ALL ABOUT THE DATA

• Gather all sales and tax data from all channels

• Put the data in the required format

• File!


COMMON PITFALLS

• Not collecting on all channels

• Collecting incorrectly on 1 or more channels

• Time consuming


HOW TO MAKE OR LOSEMONEY WHEN FILING


PAY ON TIME = $$

Some states have discountsfor on-time payment

• Generally between 1-2%• It’s free money!


Mark Faggiano

Turn this into a slide using this graphic http://1lz3sq2g71xv1ij3mj13d04u.wpengine.netdna-cdn.com/wp-content/uploads/2014/11/Blog-Nexus_States_with_Sales_Tax_Discounts.png

Mark Faggiano

[email protected]

PAY MORE IF YOU’RE LATE

All states have penalties for late payment

• Late payment charges• Interest on what wasn’t paid• “Late” means something different to states


FILE $0 RETURNS• File a return as long as you’re registered in a

state

• Fines or loss of license if you don’t

• Invalid reasons to skip filing• $0 in sales• $0 in sales tax collected• You were on vacation, sabbatical, etc.


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INTEGRATIONS

from calculations to reporting & filing


REGISTRATIONS & EDUCATION

SMARTCALCS REPORTING AUTOFILE

Painless sales tax compliance for online sellers,

Thousands of happy customers, including...


• 30-day free trial (no credit card required)

• Monthly or annual subscriptions

• Pricing based on transaction volume

• Starts at $19/month for 1k transactions

• $19.95 per AutoFile return


Get Started…FOR FREE!

Helpful resources

24

youtube.com/taxjarFor visual learners

salestaxcommunity.comTalk with 5,000 other store owners and tax pros!

blog.taxjar.comContent just for ecommerce & sales tax

CALL US!

855-800-6681


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WE LOVE QUESTIONS!

Date post:	13-Apr-2017
Category:	Education
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Sales Tax Filing Tips for Online Sellers

Education