#AccountexUSA: Your accounting firm might be subject to sales tax

Sponsor Right Networks: https://cloudaccountingpodcast.promo/rncloud Show Notes 00:53 – Meet Dena Oberst, CEO of Gable Tax Group 01:45 – Meet Diane Yetter, president of Yetter Tax, and founder of the Sales Tax Institute 04:11 – Diane gives a brief overview of the South Dakota v. Wayfair decision | AICPA 05:26 – According to South Dakota, a business’s physical presence is less important than its economic presence 06:50 – You gotta get up pretty early in the morning to go hang with the Supreme Court crowd! 08:37 – Most states , except Kansas, have adopted the $200k/200 transaction threshold | TaxJar 09:55 – If a company sells through Amazon, or other major marketplace platforms, there's nowhere to hide. 10:45 – To be registered, or not to be registered – that is a huge question right now 14:50 – States are attempting to ease the burden on smaller sellers through Marketplace Facilitation laws | Bill Track 50 17:10 – With the constant changes to the sales tax laws, which can vary state by state, it’s imperative to constantly monitor thresholds, and transaction counts 21:47 -- Who has to file? Who doesn't? Who knows? All states have yet to reach a consensus regarding the particulars of the new sales tax laws 25:38 – While it’s a mess right now, Diane believes things will start falling into place in the next five years. 26:21 – Business is definitely booming for sales-tax specialists, and firms, such as Gable Tax Group as CPAs scramble to help their clients meet these new and ever-changing sales tax requirements 28:39 – Diane doesn’t foresee any interference from the federal government, because it would only cost them more money to jump into the fray 32:06 – While the states are mostly self-policing the workings of the sales tax laws, there are some states that still want to forge their own seemingly senseless paths 33:46 – Economic nexus applies to all companies, not just sellers of physical goods 34:35 – Accountants and bookkeepers might want to exercise some caution with add-on products and bundling, as it can create additional confusion, and taxation 38:22 – With the shift from a manufacturing to a service economy, states are on a mission to replace lost revenues 39:57 – As accounting and bookkeeping practices continue to expand services, education, and understanding of the sales tax laws is critical Connect with Our Guests Dena Oberst: https://www.linkedin.com/in/dena-oberst/ https://twitter.com/PasadenaDena https://twitter.com/gabletaxgroup Diane Yetter: https://www.linkedin.com/in/dianeyetter/ https://twitter.com/YetterTax https://twitter.com/SalesTaxInst SalesTaxInstitute.com/accountex2019 Get in Touch Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary . Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes , or Podchaser . Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus . Subscribe Apple Podcasts: http://cloudacctpod.link/ApplePodcasts Spotify: http://cloudacctpod.link/Spotify Google Play: http://cloudacctpod.link/GooglePlay Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast