More About Small Business Taxes
More About Small Business Taxes
How can you find a trusted and talented CPA tax accountant out of thousands in Fort Collins? And why is reputation so important? For one thing, tax duties are serious, and it can take too much time away from your business. Imagine the paperwork, financial analysis, money matter to settle for a clean tax record, financial decisions you have to make at the last minute, debts, and the list goes on. If you are not a tax expert, completing the task may seem impossible.
For a business, these are important matters that need special attention. Thus, the need for hiring the best CPA tax accountant. But how can you be sure you are picking the right person for the job?
We have tips to help you better understand how to find the best accountant for your situation, and information on the various small business tax services that we offer, which will help ease your financial burdens.
More About Small Business Taxes
How can you find a trusted and talented CPA tax accountant out of thousands in Fort Collins? And why is reputation so important? For one thing, tax duties are serious, and it can take too much time away from your business. Imagine the paperwork, financial analysis, money matter to settle for a clean tax record, financial decisions you have to make at the last minute, debts, and the list goes on. If you are not a tax expert, completing the task may seem impossible.
For a business, these are important matters that need special attention. Thus, the need for hiring the best CPA tax accountant. But how can you be sure you are picking the right person for the job?
We have tips to help you better understand how to find the best accountant for your situation, and information on the various small business tax services that we offer, which will help ease your financial burdens.
With all the recent changes to online shopping, the accountants at Steven J. Wick want everyone to understand the new sales tax laws and how they can affect you come tax time.
When online retailers choose to not charge sales tax, they are now required to send customers a notice stating the amount of “use” tax that they owe, since the sales tax was not collected on the original purchase. This has become known as the “Amazon tax” law since Amazon was one of the largest retailers not charging online shoppers for sales tax. For online shoppers and brick-and-mortar shops this means:
Online Shoppers
For online shoppers in Colorado, the new sales tax law means that you are responsible for paying tax on purchases over $500, for online retailers who do not collect sales tax. You are supposed to receive a summary of the tax you owe at the end of the year. Online shoppers have always technically owed use tax, but few know about it or actually pay it. The “Amazon tax” law will start holding shoppers more accountable for their sales tax.
Brick-and-Mortar Shops
Since stores with a physical location in the state are already required to collect sales tax on purchases, the “Amazon tax” law does not apply to them. It does, however, attempt to create a more level playing field between online retailers and physical store locations.
To learn more about collecting tax for your online retail business, contact the accountants at Steven J. Wick today. One of our Fort Collins CPAs would be happy to sit down and answer any questions you may have about the “Amazon tax” law and its effect on your e-commerce site or recent online purchases.
