Does your business have to begin collecting sales tax on all out-of-state online sales?
- ByPolk & Associates
- Jul, 12, 2018
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The recent U.S. Supreme Court decision in South Dakota v. Wayfair allows states to impose sales tax on more out-of-state online sales. But does it mean your business must immediately begin collecting sales tax on online sales to all out-of-state customers? No. You must collect such taxes only if the particular state requires it. South Dakota’s law, for example, requires out-of-state retailers that made at least 200 sales or sales totaling at least $100,000 in the state to collect sales tax. But laws vary dramatically from state to state. Contact us with questions.
3 keys to a successful accounting system upgrade
- ByPolk & Associates
- Jul, 12, 2018
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Today’s accounting software can perform adequately for years, but improved features are being created all the time. Here are three key considerations to help you decide when to upgrade: 1) Your users’ tech savvy needs to align with the system’s level of sophistication. 2) Costs matter: Set a firm budget and focus on only needed functions. Also look into add-ons such as free trials, initial training and ongoing support. 3) If you haven’t already integrated your accounting software with other systems, doing so is advisable. We can provide further guidance.