Today on the podcast we are reairing episode 63 of the podcast where my friend, and sales tax expert, Amy Monroe shares the five steps to manage small business sales taxes.

1.  Where do you need to collect tax (do I have nexus)?

This can depend on the size of your business and the services/goods you sell. You will need to know if you need a seller's permit. 

2. How you register for a seller's permit

You will also need to search if there may be a secretary of state requirement.

3. What are the sales tax rates and how do you collect them?

Often the sales tax rate is based on the location of the buyer. You need to make sure you are also collecting any additional local, county, city and district taxes.

4. Know and manage taxability and exemptions

If you provide goods and services it's important to know what is and isn't subject to sales tax and when/if they need to be bundled together or specifically stated. The exemptions may be more nuanced than you need.

5....

When a business is in the business of selling something, chances are they have a sales tax filing obligation. Sales tax is a consumptive tax, based on consumer consumption of tangible personal property.

As a business, you act as an agent on behalf of your state to collect the tax. The tax belongs to the state, not to you. Every state is different and even every locality can be different. There are local tax rates, but the state collects everything. You file it all on one form and then it's up to the state based on the form to send those tax dollars to the local government.

If you are running a business, you want to visit the state tax website to learn more about your area's basic tax rules. Failing to pay the sales tax and keeping it for yourself is illegal and can result in jail time. It's critical to keep record of your sales tax as part of your bookkeeping, consider keeping the sales tax money in its own bank account so that's ready to pay each quarter.

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On this episode of the podcast, my Unf*ck Your Biz alumni answer commonly asked questions about their experiences with the program. To learn more about the course click here.  

If you’ve been listening to this podcast lately you’ve heard me mention the Oh Shit Cycle. You might even be in it right now, many of us are or have been. The Oh Shit Cycle is when you’re trying to do all the things at once like keep up with loan payments, put money into savings, pay off back taxes and save for retirement all at the same time. It can feel never ending, which do you pay first and how do you save money for all of them at once? Getting out of the cycle is covered in my Unf*ck Your Biz course.

I often hear business owners who are considering the Unf*ck Your Biz course share a few of the same common concerns over and over again. They’d rather hire someone to do it for them, they don’t have time, they don’t have the money, they’re...

On this episode of the podcast I chat with Karen Escobar, owner of Golden Coast Marketing about her process through the Unf*ck Your Biz course fully setting up her business for success.

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

Karen had been in business for less than a year when she joined Unf*ck Your Biz. As much as she was able to figure out certain things she needed someone to ask questions and help. Karen filed for an LLC when she started her business to help mentally separate her business from her full...

On this episode of the podcast I chat with Amanda Trejo, owner of wedding planning and coordination business Sassy Little Bee and Unf*ck Your Biz student.

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

Joining Unf*ck Your Biz, Amanda was coming to terms with how irresponsible she had felt as a business owner about the backend of her business and wanting to find someone to help her move past the embarrassment she was feeling about back taxes. We are our harshest critic and instead of embarrassment we just need to...

On this episode of the podcast I chat with guest and former Unf*ck Your Biz student Jen Draper about how she got out of the "Oh Shit" cycle.

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

Dietician Jen Draper found herself in the "oh shit" cycle of owing back taxes and juggling those payments, savings, and loan pay-off. Jen wasn't sure what to pay first and not sure how to pay it all at once. When Jen joined the Unf*ck Your Biz course she learned that she wasn't the only one who owed back taxes and wasn't alone...

On this episode of the podcast I chat with Los Angeles DJ Courtney Ibarra, better known as DJ Dazzler about her business and how she leaned into the business owner title.

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

When we don't account for our money, we have no idea how much we have. When it comes to bookkeeping and setting up a business bank account, we get a better understanding of our business and if we are truly makin money and being profitable.

The subject of money can be scary and unattractive to...

On this episode of the podcast I chat with guest and former Unf*ck Your Biz student Suzanne Birnbaum about her move into entrepreneurship

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

Suzanne shares about her move into entrepreneurship as a stay at home mom and finding her niche in wedding planning. She discovered Unf*ck Your Biz through wedding planner Megan Gilikin and decided to register for the course while attending the Masterclass.

Suzanne has developed her contracts during the Unf*ck Your Biz...

On this episode of the podcast I chat with multi business owner and Unf*ck Your Biz alumni Connie Hurlburt about how she manages the tax and legal aspects of her LLCs and partnerships.

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

Connie found me through a friend and signed up for my Masterclass to get the free bonus. With multiple income streams, Connie was starting to get scared taking on more clients not knowing what she owed in taxes or how to pay them, especially being in a partnership and not knowing how...

On this episode of the podcast I chat with guest and former Unf*ck Your Biz student Stephanie Lay.

Stephanie Lay is an event manager pivoted to virtual assistant to solo female entrepreneurs. Stephanie took a free two week challenge with Braden and discovered how the tax and legal aspect could actually be fun and not as scary and intimidating as it sounded and how much she still had to learn.

The tax and legal aspect of business is not one that you can just wing and isn't the easiest to figure out through Google searching the way a new email software or design program may be.

Unf*ck Your Biz is open to all levels of business owners, from brand new to years in, helping one another learn from what they have done and what they need to do.

Stephanie opened her business bank account, set up her Qapital account and has started going to taxes. She started her LLC in her state. She went on to join the Unf*ck Your Biz alumni-only group to Unf*ck Your Finance and...