The holidays are busy for everyone and often the added stress is enough to make us say “bah humbug!” This year, use OYA to help you stay on top of at least one thing…sales taxes…so you can be jolly while you jingle all the way home.
The additional traffic from holiday shopping can cause businesses to exceed economic nexus thresholds in accelerated timeframes. Be sure you’re tracking each transaction carefully using our Nexus Tracker to know where and when you have a sales tax obligation.
Document the Details
Yes, you’re busy. Yes, it feels like there’s too much to do. But don’t skimp on the details now. Make sure you’re tracking your transactions accurately and documenting the details of what was purchased, where it was purchased, where it shipped from, where it was delivered, who bought it, and how much they paid. Save any paperwork for things like invoices, receipts, refunds, fees, exemption certificates and anything else related to a transaction. A few extra minutes to stay organized now will pay off tons next year.
Verify What’s Being Collected & Check Rates
With state and local sales tax regulations, the ever-changing marketplace facilitator landscape, and tax exemptions to keep straight, use our Marketplace Monitor and Tax Tally to stay on top of your sales tax obligations with enough leftover time to finish your holiday shopping and bake your grandmother’s famous pumpkin pie.
It’s the holidays, but can you handle sales tax? OYA you can!