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@RoRa173 5 сағат бұрын
Excellent video, even Wix business plan provides Avalara. Is it a good buy ?
@pujiw8106 14 сағат бұрын
Thank you so much, new subscriber here ❤
@StartUpEntrepreneurPh Күн бұрын
Amazing video. I have a friend in Miami Florida, he is selling video editing, assistance for podcasting services as sole prop business registered in FL too. Is he required to be registered to withhold sales/use tax? He is having a virtual office. Thank you
@t.h773 2 күн бұрын
Excellent video...thank you for posting. I am trying to wrap my head around this so I would like to summarize my understanding with a question. I plan to sell a book (quantity 900) from my garage in southern California. Profits will not break $15,000. I understand that Shopify Tax will calculate sales, generate reports, and inform me when taxes need to be paid per state based on economic Nexus. I also understand that tax filing requirement is different state by state. With an established LLC, when will I know to file taxes? Does the Shopify Tax program inform me?
@LedgerGurus 2 күн бұрын
It should, but it would also be wise for you to be watching it yourself. I also encourage you to download our fee sales tax guide. Besides having the 10 steps you need to follow to be sales tax compliant, it also has a chart with all of the state economic thresholds. It's a very valuable resource! ledgergurus.com/portfolio/10-steps-to-ensure-sales-tax-doesnt-burn-down-your-ecommerce-business/?
@mildredheslop7540 2 күн бұрын
I moved to Nevada, I registered my business and learning how to file my business taxes. This is very helpful.
@LedgerGurus 2 күн бұрын
Glad it was helpful!
@josephraymondcaspellan5725 2 күн бұрын
What would i select for the reporting Range?
@LedgerGurus 2 күн бұрын
Whatever you need for your reporting is the range you'll use, whether that is the past month or past quarter or whatever you need.
@rahuldravid8723 3 күн бұрын
Excellent video. I Live in india. I have an e-commerce website offering phone cases (created using ecwid) to US & other western countries. Do I need to collect tax on my website? My website is a POD website, I will have my product made by sites like prodigi, printful once I receive an order. Please explain in simplest possible terms. I do not want to be involved in this tax thing
@LedgerGurus 3 күн бұрын
I cannot answer your question because there are nexus considerations that you haven't mentioned. Your best bet is to schedule a consultation with one of our sales tax experts and get your questions answered. You can do that by clicking on this link: calendly.com/ledgergurus-sales-tax/?KZbin&.
@jickjulius 5 күн бұрын
Thanks, but in that 199 transaction that i may sales in to a state, Do I have the right to tax the products since i need 201 transaction to remit tax to the state, thanks
@LedgerGurus 3 күн бұрын
No. Unless you have registered with the state (which you don't need to do until you've reached the nexus threshold). it is illegal to collect sales tax. If you see that you're getting close to hitting the thresholds, the state will usually give you some leeway to register before you have to start collecting. The state-by-state threshold chart at the end of our 10 Steps of Sales Tax guide will tell you what kind of timeframe you have before you have to start collecting. ledgergurus.com/portfolio/10-steps-to-ensure-sales-tax-doesnt-burn-down-your-ecommerce-business/?
@jickjulius 20 сағат бұрын
Thank you very much for your response, actually I have registered my LLC with New Mexico, and I am building my drop shipping store with Woo commerce which I believe they collect and remite tax automatically but I wanted to do more outside woocommerce and also with my freelancer services using and secondly Alibaba is requesting for tax exemption I summited the streamlined sales tax government board. Inc documents but it was not accepted Thanks Jick Julius
@yazmincolin7878 5 күн бұрын
Guuuurrrrrlllllll!!!!! I was panicking when I did not see sales tax for California!!! This makes so much more sense!!!! 😭😭😭
@LedgerGurus 3 күн бұрын
Glad to help!
@AllisonLoury 6 күн бұрын
Hi! Thanks for all the info. I was wondering if you have any experience with Tax Rex for filing? I am a very small business starting up. It seems to have very good reviews in the shopify app store, but I can't find any info on it anywhere else. Is it reputable, pros/cons, and would you recommend it? Does it have the same issue that Tax Jar has such as remitting less than you collected? Thank you!
@kerryscott4955 8 күн бұрын
This video is amazing, thank you so much! I do have a question, you said that it can be easier if the seller and the drop-shipper are located in the same state- why is that? Isn't it all based around where the product is shipping to? So, if the seller and the drop-shipper were both located in CA, but the product is shipping to UT, you would need a valid UT resale cert, and it doesn't really matter that the seller and drop-shipper are located in the same state?
@LedgerGurus 7 күн бұрын
That's true. What she meant is that if both the seller and drop-shipper are in the same state, they have nexus in the same state, and so the seller is responsible for collecting the sales tax.
@truckingwithlofigirl 9 күн бұрын
Ok, thank you. Yes, I need to register for the permit, that’s what I was trying to think of; which I will do tomorrow morning. Thank you for the information about the reseller certificate, now I know to get one of those too for some products I want to drop ship.
@LedgerGurus 9 күн бұрын
Best of luck!
@truckingwithlofigirl 10 күн бұрын
Ok, so I am starting up a new Shopify store, using a 3rd party to create and ship the products for me; within the USA. I don’t charge any sales taxes until after I reach 200 sales or $100,000 or whichever comes first. However I must still register and file with my city and federal government, that I have a new business for a sales tax license. (According to their websites). Do I have this information correct? My luck will be that I’m only allowed to make 2 or 3 sales a year, because failure is important to have on purpose. 🤷♂️ Do you still respond to comments with this video? 🤔
@LedgerGurus 10 күн бұрын
Sales tax thresholds vary by state. They are not all 200 sales and/or $100K. We have a complete list of economic thresholds by state at the end of our 10 Steps of Sales Tax guide. I highly recommend you download that. It's got a lot of good information to help you understand sales tax, as well as the thresholds list: ledgergurus.com/portfolio/10-steps-to-ensure-sales-tax-doesnt-burn-down-your-ecommerce-business/?KZbin& You need to register for a sales tax permit with your STATE government, not city and federal. Here's an article that talks about how: ledgergurus.com/register-for-a-sales-tax-permit/
@GraceinLondon 11 күн бұрын
Thank you for our kind explanation! Here's a quick question. If our company already registered in a state as of the beginning of last year but the sales volume in the last year didn't get the economic nexus threshold at the end of the year. Then can we deregister our business in that sate? If so, how to do it?
@LedgerGurus 10 күн бұрын
I definitely suggest you schedule a consultation with one of our sales tax experts for this one: calendly.com/ledgergurus-sales-tax/?
@mehruanand8778 12 күн бұрын
Hi! i filled the MTC and SST form, submitted to printify. I just filled form for CA and registered, definitely don't want to pay for CA tax from my pocket as I am not charging customers. In the form i selected 0 sales and do not meet economic nexus for CA. Would I still have to file with them every year even if I have 0 sales tax to show? I am registered in NY. Would love help on this to ensure I am on the right track
@LedgerGurus 10 күн бұрын
I definitely suggest you schedule a consultation with one of our sales tax experts for this one: calendly.com/ledgergurus-sales-tax/?
@mehruanand8778 9 күн бұрын
@@LedgerGurus thank you
@teacell 13 күн бұрын
So for the AMEX line of credit let us say for 6 month term... Are you paying interest daily on the amount you owe or do you have 6 months to pay it before interest is added? Thanks.
@LedgerGurus 12 күн бұрын
Interest is calculated and you pay back monthly at a fixed interest rate/ principal amount.
@LedgerGurus 13 күн бұрын
Ready to boost your business with real-time sales insights? Contact LedgerGurus today to learn more about our inventory management services and how we can help you stay profitable and ahead of the competition! ledgergurus.com/ecommerce-accounting-services/inventory-management-for-ecommerce/?
@rolex408 14 күн бұрын
This may be a dumb question, so if we don’t meet the threshold but have collected tax, what do you do with tax money collected for that state?
@LedgerGurus 14 күн бұрын
You give it back to the customers or you register and remit it to the state.
@mattheller4207 14 күн бұрын
Your videos have been very informative and helpful for understanding the complication of sales tax duties. I was thinking of starting multiple print on demand stores under one LLC, but Shopify tax doesn't support combining multiple store data into one report for tracking nexus and reporting. Do you know the best software for this? Now I'm thinking I will have to create multiple LLC's instead..
@LedgerGurus 14 күн бұрын
I would suggest you schedule a consultation to discuss the complexities of this with our sales tax experts. You can do that here: calendly.com/ledgergurus-sales-tax/?KZbin&
@awildalpz 15 күн бұрын
Hi. Does NY clothing tax exempt sales tax apply to Florida buyers?
@LedgerGurus 14 күн бұрын
Probably not because you're buying from Florida, so Florida taxes will apply, not NY taxes.
@TraceyPoland 15 күн бұрын
Thanks for your video! If I live in Colorado and have a sales cert in CO and sell on Shopify but my dropshipper is in NY can I use my CO sales tax lic to purchase wholesale from them? And do I have nexus now in NY because that’s where my dropshipper is? Hopefully that makes sense 🤪
@LedgerGurus 14 күн бұрын
If you are purchasing product that you are THEN selling to your customer, yes. But if you are dropshipping (which generally means that the customer orders from you -> you order from your dropshipper -> the dropshipper invoices you and sends the product to your customer), then it will only apply for CO customers. And no, you don't have nexus in NY because you don't own the product there; your dropshipper does.
@kanwaljeetsingh4783 15 күн бұрын
Thanks for this video. Gives good clarity. I have one question though. I use virtual address in Wyoming and i sell private label as amazon FBA seller. I know amazon is collecting sales tax on my sales but do i need to report NIL sales tax to Wyoming state ?
@LedgerGurus 15 күн бұрын
yes
@imperfectillustration6261 15 күн бұрын
What if I drop ship straight from the factory in China directly to my customers? Is the shipping considered COGs?
@LedgerGurus 15 күн бұрын
COGS is all the costs YOU have to sell a product. If you're being charged for shipping, then yes.
@imperfectillustration6261 15 күн бұрын
@@LedgerGurus Thanks for the reply. Subbed!
@dorothypang1708 15 күн бұрын
Thank you so much! Love this. One clarification, if I am selling on a marketplace facilitator, I will still have to register in the states for #1 and #2, correct?
@LedgerGurus 15 күн бұрын
Yes, you still have to register wherever you have nexus.
@ckye736 16 күн бұрын
Thank you so much for confirming in a concise and clear manner. My county senior investigator called me and said things which are wrong you just explained the points. I urge everyone to watch this even county does not know their own rules.
@LedgerGurus 16 күн бұрын
Thank you for this and we're so glad to help make things clearer for you.
@mehruanand8778 16 күн бұрын
I can still register as a certified reseller in my state right? I have a complicated situation. I submitted my reseller form to printify, incase I want to sell in person or wholesale manually. I recently launched my shopify store. With Etsy everything was very seamless but now if customer orders something through shopify website, according to economic NEXUS they will only be charged if they are in New york ( since I just launched my store) but if someone from CA buys something they wont be charged sales tax , what will printify charge me? Also, Etsy charges sales tax everywhere and doesn't care for the NEXUS? Sorry this is a loaded question but I could use some help here.
@LedgerGurus 16 күн бұрын
I definitely encourage you to schedule a consultation with one of our sales tax experts to get all of these questions answered. You can do that here: calendly.com/ledgergurus-sales-tax/?KZbin&
@mehruanand8778 12 күн бұрын
@@LedgerGurus thank you! I watched a few videos and already submitted the MTC and SST with printify. I left another comment on the SST/MTC video. If it's a simple answer of yes or no, would appreciate it. If not, I will probably schedule a call. Thank you again, simply love the videos and explanation.
@Schiappino 16 күн бұрын
Top top video! You explained difficult topic very clearly and easily. Great great job
@LedgerGurus 16 күн бұрын
Much appreciated!
@GABBY8482 17 күн бұрын
Thank you so very much for this simple explanation
@LedgerGurus 16 күн бұрын
You're very welcome!
@user-lq4rf7rl9e 19 күн бұрын
How many months can a general sale get a loan?
@LedgerGurus 12 күн бұрын
Shopify Capital doesn’t have a specific payback period. You receive a loan and then pay back a percentage of revenue for each transaction.
@elizabethmccolloch9634 20 күн бұрын
Thank you for such a helpful video! I am just starting my business and will likely not hit those thresholds for economic nexus for a while. However, I have read a bit about notice and report laws and am quite confused! As a non-collecting seller, in some states, are we required to inform our customers that they have to pay use tax? How do we find which states these are?
@LedgerGurus 20 күн бұрын
Yes, you should. We recommend adding a note to your invoices that customers outside your own state may be required to remit use tax since you're not collecting sales tax yet. You will need to register and collect for your own state since you have nexus there.
@russellgray3303 21 күн бұрын
Usually, I never comment on videos, but your video is so convincing that I am unable to stop myself from doing something about it. You’re doing a great job Man, Keep it up.
@LedgerGurus 21 күн бұрын
Wow, thank you so much!
@eiba6528 21 күн бұрын
Does a product distributor pay Sale and Used Taxes?
@LedgerGurus 21 күн бұрын
Unless you get exemption certificates from your customers, yes.
@icy4640 22 күн бұрын
Great explanation! Thanks. Do you know if it works the same for sellers outside of US?
@LedgerGurus 22 күн бұрын
Yes, it does.
@bobbybecker8834 23 күн бұрын
how does this work for drop shipping? when I order products, the state's tax that it is getting sent to is included. only items shipping to my physical state do not get taxed for resale
@LedgerGurus 23 күн бұрын
Your drop shipper is charging YOU tax because they have nexus in those states. The only way to not get charged is to submit an exemption certificate with them. Here are a couple more videos about that. How to Fill Out the SST & MTC Exemption Certificate Forms - kzbin.info/www/bejne/eZ-Qp6aaaa2fiqc & How to Easily Get a Resale Certificate For Dropshipping - kzbin.info/www/bejne/f6WQh6GLnpira5o.
@bobbybecker8834 23 күн бұрын
@@LedgerGurus thank you so much for taking the time to get back to me. The thing is, I have already filled out the tax exemption resale form. They distributor told me that I am only tax exempt in the state that I have physical presence in. So, if I ship an order to California for example, I get charged California tax on the order. It is all very confusing, and I am considering puting an end to this because I feel taxes are going to catch up on me and cost me down the line
@LedgerGurus 22 күн бұрын
@@bobbybecker8834 That's not how the SST and MTC forms work. They make it so you don't have to pay taxes in the 35 states they cover. Now, they don't cover 10 states and CA is one of those. We have a video on sales tax for drop shippers. Have you watched that one yet? It talks about all this. kzbin.info/www/bejne/qaa4ooKgaMebrNUsi=lZVPXvsblBFaXIF2
@MrPdse 26 күн бұрын
Thank you so much!! It was so helpful for me!
@LedgerGurus 24 күн бұрын
You're very welcome!
@gordonmccaskill5069 27 күн бұрын
If a reach economic nexus but I am reselling to tax exempt entities do i still need to register with a state and file a return
@LedgerGurus 26 күн бұрын
Depending on the state, you still need to register, but you'll be filing $0 returns. You can get advice for your specific question in a consultation with one of our sales tax experts - calendly.com/ledgergurus-sales-tax/?
@Nandocupra 27 күн бұрын
Hi thank you so much for this information. So i have a question. I live in the Netherlands and I sell on Etsy and work together with printify. Do I need to pay any tax sales in the United States or be registered in the United States as a seller? thank you so much. I hope you can answer my question. Have a nice day. Best regards.
@LedgerGurus 26 күн бұрын
If you do not have economic nexus or a physical presence in any of the states, you do not need to worry about sales tax at this time, though you will probably be charged sales tax from Printify unless you file an exemption certificate with them. kzbin.info/www/bejne/eZ-Qp6aaaa2fiqc for instructions on that.
@Nandocupra 26 күн бұрын
@@LedgerGurus thank you so much for your help. But i live in the Netherlands and i just work with printify and sell at Etsy. Do i have to fill in SST and MTC Exemption Certificate Forms? Do you know which one. Is there a possibility that you help me i am willing to pay for it. Best regards Fernando
@LedgerGurus 24 күн бұрын
@@Nandocupra the best way to get help for your individual situation is by scheduling a sales tax consultation with one of our sales tax experts. You can do that here: calendly.com/ledgergurus-sales-tax/?
@russellgray3303 27 күн бұрын
I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
@LedgerGurus 26 күн бұрын
Glad it was helpful!
@judykrassner6278 27 күн бұрын
This has been a topic that is very difficult to get clarity from AMZ, so thank you! I need to file with my state and was trying to find a report to find a breakdown by state so that I know how much to report to my state, but are you saying I file 0 because AMZ has filed under them?
@LedgerGurus 26 күн бұрын
There are a few exceptions but generally that is correct.
@manueloancia7387 27 күн бұрын
Good job and great video. thank you for your support, you answered to my question, Be blessed
@LedgerGurus 26 күн бұрын
You are so welcome
@cbcrcr 28 күн бұрын
Thank you very much. Very clear explanation. Amazing
@LedgerGurus 26 күн бұрын
Thank you. I'm glad you liked it.
@SherrenaTan 28 күн бұрын
Thanks for sharing! This is really helpful!
@LedgerGurus 26 күн бұрын
You're so welcome!
@chrislapray5034 28 күн бұрын
This was great information! There is so much to think about when it comes to sales tax!
@LedgerGurus 26 күн бұрын
Absolutely! SO much!!
@allisonchugg4227 28 күн бұрын
Sales tax can be so tricky! Thank you so much for sharing this checklist
@LedgerGurus 26 күн бұрын
My pleasure!
@Becca-gt8en 29 күн бұрын
Super informative. Thanks!
@LedgerGurus 26 күн бұрын
Glad you enjoyed it!
@LedgerGurus 29 күн бұрын
If you are struggling with any of these sales tax issues, be sure to reach out to us. Our sales tax experts here at LedgerGurus can help you get these things taken care of. Click here to get help: ledgergurus.com/ecommerce-accounting-services/sales-tax/?KZbin&
@georgeneamodia7240 29 күн бұрын
You are the best Britt!
@LedgerGurus 26 күн бұрын
Yeah, we think she's pretty awesome, too!
@daviddecosta5359 Ай бұрын
My numbers when i do the pivot table are soooooo off.
@LedgerGurus 26 күн бұрын
You probably need to watch this video. It'll help get those numbers back where they belong - kzbin.info/www/bejne/amKcYoCohN2Sr7s
@valentynaponomarenko9039 Ай бұрын
Hi, the menu changed a little and there is no more Inventory Event report or any other reports you recommend in this video. Can you please let us know which new inventory reports to use to determine nexus for quarterly filing now?
@LedgerGurus 26 күн бұрын
Try watching this: kzbin.info/www/bejne/fmOUqJmer7t2haM
@valentynaponomarenko9039 Ай бұрын
Hi. When i file sales tax online in one particular state, let's say NY, in the "gross sales" field do i put the total gross sales for all the country or just the gross sales within this state? Or does it vary by state? If it varies, where can i find a list which states requires what number?
@LedgerGurus Ай бұрын
Generally, that is gross sales within the state. You can Google it if you have a question about a sales tax form. All you need to do is ask for the instructions for such-and-such a form.