Staying on top of economic nexus and sales tax laws can be a tall order for even the savviest ecommerce businesses and accounting professionals. But for smaller online retailers, the increasingly complex and constantly changing legislation introduces a unique set of headaches.
That’s why Webgility, the number one ecommerce accounting automation platform for online businesses and accountants, is offering a free webinar addressing sales tax concerns for small online retailers. The event features a panel of ecommerce, tax, finance, and technology experts, including:
- Brad Scott
Director of Finance, Halstead Bead, Inc.
- Alex Oxford
Founder, TaxValet
- Veronica Wasek, CPA
Founder & CEO, VM Wasek
- Soon-Chul Choi
Chief Operating Officer, Webgility
It’s crucial for online retailers and their accounting professionals to take careful note of the latest tax legislation, says Webgility’s Choi. “State tax authorities will be more aggressive than ever in seeking new sales tax revenue opportunities in order to offset tax revenue shortfalls related to the impact of COVID-19,” he says. “As more ecommerce sellers' businesses grow, so does the need to mitigate risk by maintaining accurate financial records.”
But doing so is no easy task, according to Scott, who is the Director of Finance at Halstead Bead and has spoken before Congress advocating for simpler online sales tax legislation. “State sales tax laws are complex, and none are identical," he says. "There are 51 playbooks that online retailers must learn. Multi-state corporations employ entire State and Local Tax departments to manage the task. Small businesses don’t have the resources to do that, putting them in an impossible situation.”
ABOUT WEBGILITY
Webgility is flexible, powerful ecommerce automation software that connects your ecommerce apps to your accounting solution. Connect QuickBooks Online or QuickBooks Desktop to ecommerce stores, marketplaces, and point-of-sale systems — no IT necessary. Webgility makes it easy to adopt new sales channels, so you find new customers and sell more.
Webgility was founded in 2007. Today, it’s the No. 1 integration for QuickBooks users. The platform serves over 5,000 businesses and processes over 80 million transactions annually. All plans include free five-star onboarding and support.
