024. Got Sales Tax Questions? Listen to this Episode.

Let's talk about sales tax…This is probably one of the most confusing aspects of running a retail business, I’m just gonna be up front about that. It’s even slightly more complicated if you do any online selling. And let's be real…it's 2026. Chances are, you’re selling stuff online.

Every state is different, so I’m going to preface this episode by saying that you should always look at the resources that your state department of revenue, or equivalent, has available for you.

But, today’s episode, I’m going to give some general guidance on what sales tax is, what rates you need to charge, who you need to charge, and then what you need to do with the money you collect

 

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Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.

Sign up now: www.findingfreedomfinancial.com/masterclass

 

Other Ways to Work With Me:

• Need to get your bookkeeping caught up or cleaned up? Sometimes you just need a clean starting point so you can take it over yourself. Apply to work with us at www.findingfreedomfinancial.com/contact and we'll get your books up to date and ready to hand off.
• Need some support as you do you own bookkeeping? Then I wanna invite you to join me inside of the Bookkeeping Made Simple for Boutiques Membership, where you can get trainings & support to help you feel confident as you manage the money-stuff yourself. Using Quickbooks Online, I walk you through through the exact setup & process you need to implement everything for accurate and EASY bookkeeping all year long - no more tax time scramble! Join us at www.findingfreedomfinancial.com/membership
• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet

 

Prefer to learn while you read? Check out the blog post for this episode:

https://www.findingfreedomfinancial.com/sales-tax-questions

 

Related Episodes & Resources Mentioned:

• A helpful map and other resources to identify economic nexus thresholds across the United States: https://www.avalara.com/us/en/learn/guides/sales-tax-nexus-laws-by-state.html
• Ready to get bookkeeping & sales tax support from a REAL retail bookkeeper? Inside of Bookkeeping Made Simple for Boutiques, you get access to the private community where I will help answer ALL of your bookkeeping & sales tax related questions. You can learn more about the course & community here: www.findingfreedomfinancial.com/membership