Updated: Aug 8, 2024 Discover essential tips for capturing all your sales in your accounting system, reviewing marketplace agreements, and understanding when you need to register for sales tax. Watch the video below to keep your business compliant and informed.
Key Takeaways:
Make sure all sales are captured in your accounting system. You have to know what total sales, taxable sales, etc. are from all sources.
Review the marketplace seller agreement. It is important to know who is responsible for what.Â
Know that just because you make sales to customers in a jurisdiction does not mean you have to register to collect sales and use tax in that jurisdiction. For more information about that, check out our video on nexus.   Sales & Use Tax Nexus- Do I Have to Register to Collect Sales Tax?
Our mission to provide a resource so business owners, accountants and bookkeepers can understand sales & use tax compliance. We know that sales and use tax laws are not the easiest to understand. Our focus is on empowering you with a framework and general understanding, so you know what questions to ask and where to go to get the information you need to stay on the right side of sales and use tax compliance.
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