SAL Accounting CPA
내용
[subtitle-meta] lang=en auto=True
If you're a Canadian Shopify seller
selling to US customers, you could be
breaking the law by not registering for
US sales [music] tax. And if you've hit
the threshold to collect sales tax, you
could be liable to penalties and [music]
interest. Not only that, you could be
forced to pay the tax out of your own
pocket. You might be thinking, Shopify
is doing everything for you and you
don't have to do anything. So did my
client until they realized they would
have to pay thousands out of their own
pocket. My name is Sal and I'm an
e-commerce focused CPA in Toronto
helping you guys with US and Canadian
tax [music] obligations. Let's get into
the video.
One of my clients has a Shopify store
from Canada and was selling clothing in
the US for years and never registered
for sales stats. [music] They thought
Shopify would handle everything, but
they didn't realize that this was not
happening [music] automatically and they
were hitting multiple thresholds in
multiple states and they would have to
collect sales tax and pay it to the
state government as well. Thankfully,
they came to us and we got them
registered ASAP. So, I decided why not
make this video for you guys to ensure
that you don't go through the same. So,
let's cover some basics of sales tax
when it comes to the United States. See,
the US is not like Canada when it comes
to sales tax. There's no national sales
tax and each state has its own rules and
rates. Shopify collects sales tax as
your marketplace facilitator. But here's
the catch. You must still register and
file that tax. It's like Shopify is the
cashier, but you're still the business
owner. You must still file tax returns
even if Shopify collected everything for
you. So let's understand this concept a
bit. There are two terms you must be
very very careful and knowledgeable
about. Economic nexus and physical
nexus. Let's talk about the first one,
economic nexus. If you hit a certain
threshold in a certain state, you would
be liable to collect sales tax and pay
it to the government. Most states have
$100,000 as their threshold for a
calendar year when you have to register
for [music] sales tax. It is only
California, Texas, and New York that
have $500,000.
Most other states have $100,000. So,
when you hit those thresholds, you have
to register for sales tax. You have to
collect it, and you have to pay it to
the state. So that's what economic nexus
means. Physical nexus is basically
wherever you you have your inventory or
wherever your manufacturing is being
done. That's considered your physical
nexus because you have a physical
presence in that state. Now most Shopify
sellers come and ask me but I don't have
US employees. I don't have an office
there. Even the warehousing is actually
at a 3PL. I don't own that warehouse or
I don't lease that warehouse. So how am
I liable for any state sales tax? And
you're right. It does make sense, but
that is only in the case of income tax
[music]
because of the US Canada tax treaty
saying that if you're not yourself in
that state or in or in the United
States, you are exempt for income tax.
But for sales tax, it is a completely
different scenario. [music] What
happened in 2018 was there was a legal
dispute between the e-commerce company
Wayfair and the state of South Dakota.
The ruling was that states can now tax
you just based on either sales volume or
you having [music]
physical nexus. And physical nexus here
means a warehouse that is not yours. But
if your inventory is there, that is
basically you having [music]
nexus in that state and you're liable to
have sales tax registration, collection,
and payment. So let's talk about the
step-by-step guidance on how to do
[music] all of this. So number one, you
assess your nexus and you track your
sales by state. I've actually made a
calculator which is in the description
telling you exactly how to do this. You
can put your values for each sales in
each state [music] and it's going to
tell you where you should register and
where you're below the threshold. So go
into the description, find it, uh by all
means use it [music] as you like. Number
two is you should get an EIN or an
employer identification number. And you
can get it for free by calling the IRS
on this number on my screen [music] and
you can just register for it. Now, if
you need step-by-step instructions on
how to do that, that is in [music] this
video and where I talk about how to get
it the exact same day by just calling
the IRS. Once you've done that, you know
you've you which states you have to
register in, you have an employer
identification, you have to [music]
register in each state separately. And I
highly recommend using tools to do that.
So for example, you have Shopify tax,
you have Ailara, you've got Tax Jar. If
you want me to talk about all of these
and talk about which tool I find the
best, happy to do that if you leave me a
comment uh down below. But use those
tools to register for sales tax and to
automatically collect those sales tax
based on where the your customer is. So
when the customer puts their zip code
when they're putting the purchase,
[music] it's going to automatically
calculate sales tax based on their zip
code. and then it's going to collect
that and remit it to the government as
well. Again, I am happy to make a video
separately on which tool I like the best
and if you just let me know in the
comments below. Now, just be careful on
one thing. If in a certain year your
sales in that one state dip below the
threshold [music] or there's zero, you
still have to collect those sales taxs
[music] and still remitt it. And you
still, even if it's zero, you still have
to file a zero return. There are
penalties for not doing that. Sometimes
it's as small as $60 in Texas, but they
can rise with different states. The next
step is to make sure that you are on top
of your filing frequency. [music] So, it
could be monthly, it could be quarterly,
or it could be annual based on the
volume in each state. But just make sure
you're on top of that. And I would
highly suggest using an online tool that
can help you automate all of this. I
would also recommend keeping records for
years. IRS and states can go back up to
6 years to audit you. And again, if
you're using a tool, that's going to
help you because that's going to stay in
your record for years to come. Now,
let's talk about some of the biggest
mistakes that e-commerce store owners
make when it comes to sales tax. Number
one, assuming Shopify would do
everything for you. You should be making
sure that you're on top of it, not just
leaving it to Shopify tax to do it. You
should be checking it regularly. It is
not like Amazon that just collects it
and pays it for you and you don't even
have to worry about anything. [music]
shop in Shopify, you need to be having
your hands dirty with the sales tax
[music] registration, filing, and
payments. Number two, thinking you're
too small for registering for sales tax.
I repeat, most states [music] have only
$100,000 as your threshold for
registering all of this. If you don't
collect that sales tax, they can find
you and they can also ask you to pay out
of pocket. States have also now started
to audit warehouses to see their list of
customers and that way they can
literally come after you because you
would be on the list of the customers
for your 3PL warehouse. Number three,
thinking you can do this yourself. There
are numerous tools out there to help you
out. Do not attempt [music] these
yourself. You can either use Tax Jar,
Ailara, Shopify Tax. There's a couple
others like Numero, but there's so many
tools out there. Do not attempt to do
these yourself because it's not worth
the hassle and it's not worth the stress
if you miss a deadline. [music]
The next mistake is forgetting that you
also have income tax requirements. This
whole video is has been about sales
[music] tax, but you also have income
tax requirements both to the federal
government in the United States and to
state governments. For this, I have
separate videos. I talk about all of
that and obviously you can check them
out here or my team would put it at the
end of the video if you if that's
something you want to speak to us more
deeply about. We're crossber tax firm
that help [music] you Canadians with
their US tax obligations and their
Canadian tax obligations. Just head to
salaccounting.ca where my team would
love to help you out. The last mistake
is forgetting to subscribe to this
channel which is going to keep you safe
from tax surprises. That's it. See you
in the next one guys.
>> [music]
원문 자막 펼치기
WEBVTT Kind: captions Language: en 00:00:00.080 --> 00:00:01.670 align:start position:0% If<00:00:00.320><c> you're</c><00:00:00.400><c> a</c><00:00:00.480><c> Canadian</c><00:00:00.800><c> Shopify</c><00:00:01.280><c> seller</c> 00:00:01.670 --> 00:00:01.680 align:start position:0% If you're a Canadian Shopify seller 00:00:01.680 --> 00:00:03.990 align:start position:0% If you're a Canadian Shopify seller selling<00:00:02.000><c> to</c><00:00:02.159><c> US</c><00:00:02.480><c> customers,</c><00:00:03.120><c> you</c><00:00:03.360><c> could</c><00:00:03.760><c> be</c> 00:00:03.990 --> 00:00:04.000 align:start position:0% selling to US customers, you could be 00:00:04.000 --> 00:00:06.470 align:start position:0% selling to US customers, you could be breaking<00:00:04.400><c> the</c><00:00:04.640><c> law</c><00:00:05.040><c> by</c><00:00:05.359><c> not</c><00:00:05.680><c> registering</c><00:00:06.240><c> for</c> 00:00:06.470 --> 00:00:06.480 align:start position:0% breaking the law by not registering for 00:00:06.480 --> 00:00:09.030 align:start position:0% breaking the law by not registering for US<00:00:07.040><c> sales</c><00:00:07.205><c> [music]</c><00:00:07.359><c> tax.</c><00:00:08.320><c> And</c><00:00:08.480><c> if</c><00:00:08.639><c> you've</c><00:00:08.800><c> hit</c> 00:00:09.030 --> 00:00:09.040 align:start position:0% US sales [music] tax. And if you've hit 00:00:09.040 --> 00:00:10.950 align:start position:0% US sales [music] tax. And if you've hit the<00:00:09.200><c> threshold</c><00:00:09.599><c> to</c><00:00:09.760><c> collect</c><00:00:10.080><c> sales</c><00:00:10.400><c> tax,</c><00:00:10.800><c> you</c> 00:00:10.950 --> 00:00:10.960 align:start position:0% the threshold to collect sales tax, you 00:00:10.960 --> 00:00:13.110 align:start position:0% the threshold to collect sales tax, you could<00:00:11.120><c> be</c><00:00:11.280><c> liable</c><00:00:11.840><c> to</c><00:00:12.080><c> penalties</c><00:00:12.639><c> and</c><00:00:13.100><c> [music]</c> 00:00:13.110 --> 00:00:13.120 align:start position:0% could be liable to penalties and [music] 00:00:13.120 --> 00:00:15.190 align:start position:0% could be liable to penalties and [music] interest.<00:00:13.840><c> Not</c><00:00:14.080><c> only</c><00:00:14.240><c> that,</c><00:00:14.639><c> you</c><00:00:14.880><c> could</c><00:00:15.040><c> be</c> 00:00:15.190 --> 00:00:15.200 align:start position:0% interest. Not only that, you could be 00:00:15.200 --> 00:00:17.269 align:start position:0% interest. Not only that, you could be forced<00:00:15.519><c> to</c><00:00:15.679><c> pay</c><00:00:15.839><c> the</c><00:00:16.080><c> tax</c><00:00:16.400><c> out</c><00:00:16.640><c> of</c><00:00:16.800><c> your</c><00:00:17.039><c> own</c> 00:00:17.269 --> 00:00:17.279 align:start position:0% forced to pay the tax out of your own 00:00:17.279 --> 00:00:18.950 align:start position:0% forced to pay the tax out of your own pocket.<00:00:17.760><c> You</c><00:00:17.920><c> might</c><00:00:18.080><c> be</c><00:00:18.240><c> thinking,</c><00:00:18.560><c> Shopify</c> 00:00:18.950 --> 00:00:18.960 align:start position:0% pocket. You might be thinking, Shopify 00:00:18.960 --> 00:00:20.390 align:start position:0% pocket. You might be thinking, Shopify is<00:00:19.199><c> doing</c><00:00:19.439><c> everything</c><00:00:19.680><c> for</c><00:00:19.920><c> you</c><00:00:20.080><c> and</c><00:00:20.240><c> you</c> 00:00:20.390 --> 00:00:20.400 align:start position:0% is doing everything for you and you 00:00:20.400 --> 00:00:22.550 align:start position:0% is doing everything for you and you don't<00:00:20.560><c> have</c><00:00:20.640><c> to</c><00:00:20.800><c> do</c><00:00:20.960><c> anything.</c><00:00:22.000><c> So</c><00:00:22.160><c> did</c><00:00:22.400><c> my</c> 00:00:22.550 --> 00:00:22.560 align:start position:0% don't have to do anything. So did my 00:00:22.560 --> 00:00:24.150 align:start position:0% don't have to do anything. So did my client<00:00:22.960><c> until</c><00:00:23.279><c> they</c><00:00:23.439><c> realized</c><00:00:23.840><c> they</c><00:00:24.000><c> would</c> 00:00:24.150 --> 00:00:24.160 align:start position:0% client until they realized they would 00:00:24.160 --> 00:00:26.550 align:start position:0% client until they realized they would have<00:00:24.240><c> to</c><00:00:24.400><c> pay</c><00:00:24.640><c> thousands</c><00:00:25.519><c> out</c><00:00:25.680><c> of</c><00:00:25.840><c> their</c><00:00:26.080><c> own</c> 00:00:26.550 --> 00:00:26.560 align:start position:0% have to pay thousands out of their own 00:00:26.560 --> 00:00:28.710 align:start position:0% have to pay thousands out of their own pocket.<00:00:27.519><c> My</c><00:00:27.680><c> name</c><00:00:27.840><c> is</c><00:00:27.920><c> Sal</c><00:00:28.240><c> and</c><00:00:28.480><c> I'm</c><00:00:28.560><c> an</c> 00:00:28.710 --> 00:00:28.720 align:start position:0% pocket. My name is Sal and I'm an 00:00:28.720 --> 00:00:30.630 align:start position:0% pocket. My name is Sal and I'm an e-commerce<00:00:29.279><c> focused</c><00:00:29.679><c> CPA</c><00:00:30.080><c> in</c><00:00:30.240><c> Toronto</c> 00:00:30.630 --> 00:00:30.640 align:start position:0% e-commerce focused CPA in Toronto 00:00:30.640 --> 00:00:33.110 align:start position:0% e-commerce focused CPA in Toronto helping<00:00:30.960><c> you</c><00:00:31.199><c> guys</c><00:00:31.439><c> with</c><00:00:31.760><c> US</c><00:00:32.160><c> and</c><00:00:32.480><c> Canadian</c> 00:00:33.110 --> 00:00:33.120 align:start position:0% helping you guys with US and Canadian 00:00:33.120 --> 00:00:34.870 align:start position:0% helping you guys with US and Canadian tax<00:00:33.405><c> [music]</c><00:00:33.440><c> obligations.</c><00:00:34.239><c> Let's</c><00:00:34.480><c> get</c><00:00:34.640><c> into</c> 00:00:34.870 --> 00:00:34.880 align:start position:0% tax [music] obligations. Let's get into 00:00:34.880 --> 00:00:41.510 align:start position:0% tax [music] obligations. Let's get into the<00:00:35.040><c> video.</c> 00:00:41.510 --> 00:00:41.520 align:start position:0% 00:00:41.520 --> 00:00:42.950 align:start position:0% One<00:00:41.760><c> of</c><00:00:41.840><c> my</c><00:00:42.000><c> clients</c><00:00:42.160><c> has</c><00:00:42.320><c> a</c><00:00:42.399><c> Shopify</c><00:00:42.800><c> store</c> 00:00:42.950 --> 00:00:42.960 align:start position:0% One of my clients has a Shopify store 00:00:42.960 --> 00:00:44.630 align:start position:0% One of my clients has a Shopify store from<00:00:43.200><c> Canada</c><00:00:43.440><c> and</c><00:00:43.600><c> was</c><00:00:43.760><c> selling</c><00:00:44.079><c> clothing</c><00:00:44.399><c> in</c> 00:00:44.630 --> 00:00:44.640 align:start position:0% from Canada and was selling clothing in 00:00:44.640 --> 00:00:47.110 align:start position:0% from Canada and was selling clothing in the<00:00:44.800><c> US</c><00:00:44.960><c> for</c><00:00:45.200><c> years</c><00:00:45.600><c> and</c><00:00:46.000><c> never</c><00:00:46.719><c> registered</c> 00:00:47.110 --> 00:00:47.120 align:start position:0% the US for years and never registered 00:00:47.120 --> 00:00:48.709 align:start position:0% the US for years and never registered for<00:00:47.280><c> sales</c><00:00:47.600><c> stats.</c><00:00:47.815><c> [music]</c><00:00:48.160><c> They</c><00:00:48.399><c> thought</c> 00:00:48.709 --> 00:00:48.719 align:start position:0% for sales stats. [music] They thought 00:00:48.719 --> 00:00:50.549 align:start position:0% for sales stats. [music] They thought Shopify<00:00:49.280><c> would</c><00:00:49.440><c> handle</c><00:00:49.760><c> everything,</c><00:00:50.239><c> but</c> 00:00:50.549 --> 00:00:50.559 align:start position:0% Shopify would handle everything, but 00:00:50.559 --> 00:00:52.150 align:start position:0% Shopify would handle everything, but they<00:00:50.719><c> didn't</c><00:00:50.960><c> realize</c><00:00:51.280><c> that</c><00:00:51.520><c> this</c><00:00:51.680><c> was</c><00:00:51.920><c> not</c> 00:00:52.150 --> 00:00:52.160 align:start position:0% they didn't realize that this was not 00:00:52.160 --> 00:00:53.910 align:start position:0% they didn't realize that this was not happening<00:00:52.400><c> [music]</c><00:00:52.559><c> automatically</c><00:00:53.440><c> and</c><00:00:53.680><c> they</c> 00:00:53.910 --> 00:00:53.920 align:start position:0% happening [music] automatically and they 00:00:53.920 --> 00:00:55.750 align:start position:0% happening [music] automatically and they were<00:00:54.239><c> hitting</c><00:00:54.640><c> multiple</c><00:00:55.039><c> thresholds</c><00:00:55.520><c> in</c> 00:00:55.750 --> 00:00:55.760 align:start position:0% were hitting multiple thresholds in 00:00:55.760 --> 00:00:57.430 align:start position:0% were hitting multiple thresholds in multiple<00:00:56.239><c> states</c><00:00:56.640><c> and</c><00:00:56.879><c> they</c><00:00:57.039><c> would</c><00:00:57.199><c> have</c><00:00:57.360><c> to</c> 00:00:57.430 --> 00:00:57.440 align:start position:0% multiple states and they would have to 00:00:57.440 --> 00:00:59.750 align:start position:0% multiple states and they would have to collect<00:00:57.760><c> sales</c><00:00:58.079><c> tax</c><00:00:58.640><c> and</c><00:00:58.960><c> pay</c><00:00:59.199><c> it</c><00:00:59.440><c> to</c><00:00:59.600><c> the</c> 00:00:59.750 --> 00:00:59.760 align:start position:0% collect sales tax and pay it to the 00:00:59.760 --> 00:01:01.510 align:start position:0% collect sales tax and pay it to the state<00:01:00.000><c> government</c><00:01:00.320><c> as</c><00:01:00.559><c> well.</c><00:01:00.879><c> Thankfully,</c> 00:01:01.510 --> 00:01:01.520 align:start position:0% state government as well. Thankfully, 00:01:01.520 --> 00:01:02.709 align:start position:0% state government as well. Thankfully, they<00:01:01.680><c> came</c><00:01:01.760><c> to</c><00:01:01.920><c> us</c><00:01:02.079><c> and</c><00:01:02.239><c> we</c><00:01:02.399><c> got</c><00:01:02.559><c> them</c> 00:01:02.709 --> 00:01:02.719 align:start position:0% they came to us and we got them 00:01:02.719 --> 00:01:04.950 align:start position:0% they came to us and we got them registered<00:01:03.120><c> ASAP.</c><00:01:03.840><c> So,</c><00:01:04.000><c> I</c><00:01:04.239><c> decided</c><00:01:04.640><c> why</c><00:01:04.799><c> not</c> 00:01:04.950 --> 00:01:04.960 align:start position:0% registered ASAP. So, I decided why not 00:01:04.960 --> 00:01:06.950 align:start position:0% registered ASAP. So, I decided why not make<00:01:05.119><c> this</c><00:01:05.360><c> video</c><00:01:05.600><c> for</c><00:01:05.840><c> you</c><00:01:06.000><c> guys</c><00:01:06.159><c> to</c><00:01:06.479><c> ensure</c> 00:01:06.950 --> 00:01:06.960 align:start position:0% make this video for you guys to ensure 00:01:06.960 --> 00:01:08.870 align:start position:0% make this video for you guys to ensure that<00:01:07.200><c> you</c><00:01:07.520><c> don't</c><00:01:07.680><c> go</c><00:01:07.840><c> through</c><00:01:08.000><c> the</c><00:01:08.240><c> same.</c><00:01:08.720><c> So,</c> 00:01:08.870 --> 00:01:08.880 align:start position:0% that you don't go through the same. So, 00:01:08.880 --> 00:01:11.030 align:start position:0% that you don't go through the same. So, let's<00:01:09.119><c> cover</c><00:01:09.360><c> some</c><00:01:09.600><c> basics</c><00:01:10.000><c> of</c><00:01:10.320><c> sales</c><00:01:10.640><c> tax</c> 00:01:11.030 --> 00:01:11.040 align:start position:0% let's cover some basics of sales tax 00:01:11.040 --> 00:01:12.789 align:start position:0% let's cover some basics of sales tax when<00:01:11.200><c> it</c><00:01:11.280><c> comes</c><00:01:11.439><c> to</c><00:01:11.520><c> the</c><00:01:11.760><c> United</c><00:01:11.920><c> States.</c><00:01:12.560><c> See,</c> 00:01:12.789 --> 00:01:12.799 align:start position:0% when it comes to the United States. See, 00:01:12.799 --> 00:01:14.870 align:start position:0% when it comes to the United States. See, the<00:01:13.040><c> US</c><00:01:13.280><c> is</c><00:01:13.439><c> not</c><00:01:13.680><c> like</c><00:01:13.920><c> Canada</c><00:01:14.240><c> when</c><00:01:14.479><c> it</c><00:01:14.640><c> comes</c> 00:01:14.870 --> 00:01:14.880 align:start position:0% the US is not like Canada when it comes 00:01:14.880 --> 00:01:17.190 align:start position:0% the US is not like Canada when it comes to<00:01:15.119><c> sales</c><00:01:15.439><c> tax.</c><00:01:16.080><c> There's</c><00:01:16.400><c> no</c><00:01:16.640><c> national</c><00:01:16.960><c> sales</c> 00:01:17.190 --> 00:01:17.200 align:start position:0% to sales tax. There's no national sales 00:01:17.200 --> 00:01:19.910 align:start position:0% to sales tax. There's no national sales tax<00:01:17.680><c> and</c><00:01:18.000><c> each</c><00:01:18.240><c> state</c><00:01:18.479><c> has</c><00:01:18.720><c> its</c><00:01:18.960><c> own</c><00:01:19.200><c> rules</c><00:01:19.600><c> and</c> 00:01:19.910 --> 00:01:19.920 align:start position:0% tax and each state has its own rules and 00:01:19.920 --> 00:01:22.630 align:start position:0% tax and each state has its own rules and rates.<00:01:20.880><c> Shopify</c><00:01:21.439><c> collects</c><00:01:21.759><c> sales</c><00:01:22.080><c> tax</c><00:01:22.400><c> as</c> 00:01:22.630 --> 00:01:22.640 align:start position:0% rates. Shopify collects sales tax as 00:01:22.640 --> 00:01:25.030 align:start position:0% rates. Shopify collects sales tax as your<00:01:22.880><c> marketplace</c><00:01:23.520><c> facilitator.</c><00:01:24.640><c> But</c><00:01:24.799><c> here's</c> 00:01:25.030 --> 00:01:25.040 align:start position:0% your marketplace facilitator. But here's 00:01:25.040 --> 00:01:27.270 align:start position:0% your marketplace facilitator. But here's the<00:01:25.200><c> catch.</c><00:01:25.840><c> You</c><00:01:26.080><c> must</c><00:01:26.240><c> still</c><00:01:26.560><c> register</c><00:01:26.960><c> and</c> 00:01:27.270 --> 00:01:27.280 align:start position:0% the catch. You must still register and 00:01:27.280 --> 00:01:30.230 align:start position:0% the catch. You must still register and file<00:01:27.520><c> that</c><00:01:27.759><c> tax.</c><00:01:28.560><c> It's</c><00:01:28.799><c> like</c><00:01:28.960><c> Shopify</c><00:01:29.520><c> is</c><00:01:29.680><c> the</c> 00:01:30.230 --> 00:01:30.240 align:start position:0% file that tax. It's like Shopify is the 00:01:30.240 --> 00:01:31.910 align:start position:0% file that tax. It's like Shopify is the cashier,<00:01:30.799><c> but</c><00:01:31.040><c> you're</c><00:01:31.280><c> still</c><00:01:31.439><c> the</c><00:01:31.680><c> business</c> 00:01:31.910 --> 00:01:31.920 align:start position:0% cashier, but you're still the business 00:01:31.920 --> 00:01:34.390 align:start position:0% cashier, but you're still the business owner.<00:01:32.400><c> You</c><00:01:32.640><c> must</c><00:01:32.799><c> still</c><00:01:33.040><c> file</c><00:01:33.520><c> tax</c><00:01:33.920><c> returns</c> 00:01:34.390 --> 00:01:34.400 align:start position:0% owner. You must still file tax returns 00:01:34.400 --> 00:01:36.390 align:start position:0% owner. You must still file tax returns even<00:01:34.640><c> if</c><00:01:34.799><c> Shopify</c><00:01:35.439><c> collected</c><00:01:35.840><c> everything</c><00:01:36.159><c> for</c> 00:01:36.390 --> 00:01:36.400 align:start position:0% even if Shopify collected everything for 00:01:36.400 --> 00:01:38.469 align:start position:0% even if Shopify collected everything for you.<00:01:37.040><c> So</c><00:01:37.200><c> let's</c><00:01:37.439><c> understand</c><00:01:37.759><c> this</c><00:01:38.000><c> concept</c><00:01:38.240><c> a</c> 00:01:38.469 --> 00:01:38.479 align:start position:0% you. So let's understand this concept a 00:01:38.479 --> 00:01:40.149 align:start position:0% you. So let's understand this concept a bit.<00:01:38.880><c> There</c><00:01:39.040><c> are</c><00:01:39.119><c> two</c><00:01:39.360><c> terms</c><00:01:39.600><c> you</c><00:01:39.840><c> must</c><00:01:40.000><c> be</c> 00:01:40.149 --> 00:01:40.159 align:start position:0% bit. There are two terms you must be 00:01:40.159 --> 00:01:42.069 align:start position:0% bit. There are two terms you must be very<00:01:40.479><c> very</c><00:01:41.119><c> careful</c><00:01:41.439><c> and</c><00:01:41.680><c> knowledgeable</c> 00:01:42.069 --> 00:01:42.079 align:start position:0% very very careful and knowledgeable 00:01:42.079 --> 00:01:43.910 align:start position:0% very very careful and knowledgeable about.<00:01:42.400><c> Economic</c><00:01:42.799><c> nexus</c><00:01:43.200><c> and</c><00:01:43.520><c> physical</c> 00:01:43.910 --> 00:01:43.920 align:start position:0% about. Economic nexus and physical 00:01:43.920 --> 00:01:45.990 align:start position:0% about. Economic nexus and physical nexus.<00:01:44.640><c> Let's</c><00:01:44.880><c> talk</c><00:01:44.960><c> about</c><00:01:45.119><c> the</c><00:01:45.280><c> first</c><00:01:45.439><c> one,</c> 00:01:45.990 --> 00:01:46.000 align:start position:0% nexus. Let's talk about the first one, 00:01:46.000 --> 00:01:48.550 align:start position:0% nexus. Let's talk about the first one, economic<00:01:46.479><c> nexus.</c><00:01:47.439><c> If</c><00:01:47.680><c> you</c><00:01:47.840><c> hit</c><00:01:48.000><c> a</c><00:01:48.240><c> certain</c> 00:01:48.550 --> 00:01:48.560 align:start position:0% economic nexus. If you hit a certain 00:01:48.560 --> 00:01:50.870 align:start position:0% economic nexus. If you hit a certain threshold<00:01:49.200><c> in</c><00:01:49.520><c> a</c><00:01:49.680><c> certain</c><00:01:49.920><c> state,</c><00:01:50.560><c> you</c><00:01:50.720><c> would</c> 00:01:50.870 --> 00:01:50.880 align:start position:0% threshold in a certain state, you would 00:01:50.880 --> 00:01:52.950 align:start position:0% threshold in a certain state, you would be<00:01:51.040><c> liable</c><00:01:51.439><c> to</c><00:01:51.600><c> collect</c><00:01:51.920><c> sales</c><00:01:52.240><c> tax</c><00:01:52.560><c> and</c><00:01:52.720><c> pay</c> 00:01:52.950 --> 00:01:52.960 align:start position:0% be liable to collect sales tax and pay 00:01:52.960 --> 00:01:55.030 align:start position:0% be liable to collect sales tax and pay it<00:01:53.200><c> to</c><00:01:53.439><c> the</c><00:01:53.600><c> government.</c><00:01:54.159><c> Most</c><00:01:54.399><c> states</c><00:01:54.720><c> have</c> 00:01:55.030 --> 00:01:55.040 align:start position:0% it to the government. Most states have 00:01:55.040 --> 00:01:57.749 align:start position:0% it to the government. Most states have $100,000<00:01:56.159><c> as</c><00:01:56.479><c> their</c><00:01:56.720><c> threshold</c><00:01:57.360><c> for</c><00:01:57.600><c> a</c> 00:01:57.749 --> 00:01:57.759 align:start position:0% $100,000 as their threshold for a 00:01:57.759 --> 00:01:59.749 align:start position:0% $100,000 as their threshold for a calendar<00:01:58.159><c> year</c><00:01:58.799><c> when</c><00:01:59.040><c> you</c><00:01:59.200><c> have</c><00:01:59.280><c> to</c><00:01:59.439><c> register</c> 00:01:59.749 --> 00:01:59.759 align:start position:0% calendar year when you have to register 00:01:59.759 --> 00:02:01.190 align:start position:0% calendar year when you have to register for<00:01:59.866><c> [music]</c><00:01:59.920><c> sales</c><00:02:00.159><c> tax.</c><00:02:00.560><c> It</c><00:02:00.799><c> is</c><00:02:00.880><c> only</c> 00:02:01.190 --> 00:02:01.200 align:start position:0% for [music] sales tax. It is only 00:02:01.200 --> 00:02:04.069 align:start position:0% for [music] sales tax. It is only California,<00:02:02.159><c> Texas,</c><00:02:02.640><c> and</c><00:02:02.960><c> New</c><00:02:03.200><c> York</c><00:02:03.840><c> that</c> 00:02:04.069 --> 00:02:04.079 align:start position:0% California, Texas, and New York that 00:02:04.079 --> 00:02:05.990 align:start position:0% California, Texas, and New York that have<00:02:04.479><c> $500,000.</c> 00:02:05.990 --> 00:02:06.000 align:start position:0% have $500,000. 00:02:06.000 --> 00:02:08.150 align:start position:0% have $500,000. Most<00:02:06.320><c> other</c><00:02:06.560><c> states</c><00:02:06.799><c> have</c><00:02:07.040><c> $100,000.</c><00:02:08.000><c> So,</c> 00:02:08.150 --> 00:02:08.160 align:start position:0% Most other states have $100,000. So, 00:02:08.160 --> 00:02:09.830 align:start position:0% Most other states have $100,000. So, when<00:02:08.319><c> you</c><00:02:08.399><c> hit</c><00:02:08.560><c> those</c><00:02:08.800><c> thresholds,</c><00:02:09.440><c> you</c><00:02:09.679><c> have</c> 00:02:09.830 --> 00:02:09.840 align:start position:0% when you hit those thresholds, you have 00:02:09.840 --> 00:02:11.670 align:start position:0% when you hit those thresholds, you have to<00:02:10.000><c> register</c><00:02:10.319><c> for</c><00:02:10.479><c> sales</c><00:02:10.800><c> tax.</c><00:02:11.280><c> You</c><00:02:11.440><c> have</c><00:02:11.520><c> to</c> 00:02:11.670 --> 00:02:11.680 align:start position:0% to register for sales tax. You have to 00:02:11.680 --> 00:02:13.350 align:start position:0% to register for sales tax. You have to collect<00:02:12.000><c> it,</c><00:02:12.319><c> and</c><00:02:12.560><c> you</c><00:02:12.720><c> have</c><00:02:12.800><c> to</c><00:02:12.959><c> pay</c><00:02:13.120><c> it</c><00:02:13.280><c> to</c> 00:02:13.350 --> 00:02:13.360 align:start position:0% collect it, and you have to pay it to 00:02:13.360 --> 00:02:15.830 align:start position:0% collect it, and you have to pay it to the<00:02:13.599><c> state.</c><00:02:14.080><c> So</c><00:02:14.319><c> that's</c><00:02:14.560><c> what</c><00:02:14.879><c> economic</c><00:02:15.360><c> nexus</c> 00:02:15.830 --> 00:02:15.840 align:start position:0% the state. So that's what economic nexus 00:02:15.840 --> 00:02:18.390 align:start position:0% the state. So that's what economic nexus means.<00:02:16.239><c> Physical</c><00:02:16.640><c> nexus</c><00:02:17.200><c> is</c><00:02:17.520><c> basically</c> 00:02:18.390 --> 00:02:18.400 align:start position:0% means. Physical nexus is basically 00:02:18.400 --> 00:02:20.229 align:start position:0% means. Physical nexus is basically wherever<00:02:18.800><c> you</c><00:02:19.040><c> you</c><00:02:19.280><c> have</c><00:02:19.360><c> your</c><00:02:19.599><c> inventory</c><00:02:20.000><c> or</c> 00:02:20.229 --> 00:02:20.239 align:start position:0% wherever you you have your inventory or 00:02:20.239 --> 00:02:21.670 align:start position:0% wherever you you have your inventory or wherever<00:02:20.560><c> your</c><00:02:20.720><c> manufacturing</c><00:02:21.280><c> is</c><00:02:21.440><c> being</c> 00:02:21.670 --> 00:02:21.680 align:start position:0% wherever your manufacturing is being 00:02:21.680 --> 00:02:23.589 align:start position:0% wherever your manufacturing is being done.<00:02:22.239><c> That's</c><00:02:22.560><c> considered</c><00:02:22.959><c> your</c><00:02:23.200><c> physical</c> 00:02:23.589 --> 00:02:23.599 align:start position:0% done. That's considered your physical 00:02:23.599 --> 00:02:25.990 align:start position:0% done. That's considered your physical nexus<00:02:24.080><c> because</c><00:02:24.400><c> you</c><00:02:24.720><c> have</c><00:02:25.280><c> a</c><00:02:25.599><c> physical</c> 00:02:25.990 --> 00:02:26.000 align:start position:0% nexus because you have a physical 00:02:26.000 --> 00:02:28.470 align:start position:0% nexus because you have a physical presence<00:02:26.400><c> in</c><00:02:26.640><c> that</c><00:02:26.959><c> state.</c><00:02:27.440><c> Now</c><00:02:27.680><c> most</c><00:02:27.840><c> Shopify</c> 00:02:28.470 --> 00:02:28.480 align:start position:0% presence in that state. Now most Shopify 00:02:28.480 --> 00:02:31.270 align:start position:0% presence in that state. Now most Shopify sellers<00:02:28.959><c> come</c><00:02:29.120><c> and</c><00:02:29.360><c> ask</c><00:02:29.520><c> me</c><00:02:30.239><c> but</c><00:02:30.720><c> I</c><00:02:30.959><c> don't</c><00:02:31.120><c> have</c> 00:02:31.270 --> 00:02:31.280 align:start position:0% sellers come and ask me but I don't have 00:02:31.280 --> 00:02:32.949 align:start position:0% sellers come and ask me but I don't have US<00:02:31.599><c> employees.</c><00:02:32.080><c> I</c><00:02:32.239><c> don't</c><00:02:32.400><c> have</c><00:02:32.480><c> an</c><00:02:32.720><c> office</c> 00:02:32.949 --> 00:02:32.959 align:start position:0% US employees. I don't have an office 00:02:32.959 --> 00:02:34.949 align:start position:0% US employees. I don't have an office there.<00:02:33.519><c> Even</c><00:02:33.760><c> the</c><00:02:34.000><c> warehousing</c><00:02:34.560><c> is</c><00:02:34.720><c> actually</c> 00:02:34.949 --> 00:02:34.959 align:start position:0% there. Even the warehousing is actually 00:02:34.959 --> 00:02:37.589 align:start position:0% there. Even the warehousing is actually at<00:02:35.120><c> a</c><00:02:35.280><c> 3PL.</c><00:02:36.080><c> I</c><00:02:36.319><c> don't</c><00:02:36.480><c> own</c><00:02:36.640><c> that</c><00:02:36.879><c> warehouse</c><00:02:37.440><c> or</c> 00:02:37.589 --> 00:02:37.599 align:start position:0% at a 3PL. I don't own that warehouse or 00:02:37.599 --> 00:02:39.670 align:start position:0% at a 3PL. I don't own that warehouse or I<00:02:37.760><c> don't</c><00:02:37.920><c> lease</c><00:02:38.160><c> that</c><00:02:38.400><c> warehouse.</c><00:02:39.120><c> So</c><00:02:39.280><c> how</c><00:02:39.440><c> am</c> 00:02:39.670 --> 00:02:39.680 align:start position:0% I don't lease that warehouse. So how am 00:02:39.680 --> 00:02:42.630 align:start position:0% I don't lease that warehouse. So how am I<00:02:39.920><c> liable</c><00:02:40.480><c> for</c><00:02:40.720><c> any</c><00:02:41.519><c> state</c><00:02:41.760><c> sales</c><00:02:42.080><c> tax?</c><00:02:42.480><c> And</c> 00:02:42.630 --> 00:02:42.640 align:start position:0% I liable for any state sales tax? And 00:02:42.640 --> 00:02:44.869 align:start position:0% I liable for any state sales tax? And you're<00:02:42.879><c> right.</c><00:02:43.200><c> It</c><00:02:43.519><c> does</c><00:02:43.680><c> make</c><00:02:43.920><c> sense,</c><00:02:44.560><c> but</c> 00:02:44.869 --> 00:02:44.879 align:start position:0% you're right. It does make sense, but 00:02:44.879 --> 00:02:47.690 align:start position:0% you're right. It does make sense, but that<00:02:45.200><c> is</c><00:02:45.519><c> only</c><00:02:45.840><c> in</c><00:02:46.080><c> the</c><00:02:46.239><c> case</c><00:02:46.560><c> of</c><00:02:47.200><c> income</c><00:02:47.680><c> tax</c> 00:02:47.690 --> 00:02:47.700 align:start position:0% that is only in the case of income tax 00:02:47.700 --> 00:02:48.390 align:start position:0% that is only in the case of income tax [music] 00:02:48.390 --> 00:02:48.400 align:start position:0% [music] 00:02:48.400 --> 00:02:50.550 align:start position:0% [music] because<00:02:48.640><c> of</c><00:02:48.800><c> the</c><00:02:49.040><c> US</c><00:02:49.360><c> Canada</c><00:02:49.760><c> tax</c><00:02:50.000><c> treaty</c> 00:02:50.550 --> 00:02:50.560 align:start position:0% because of the US Canada tax treaty 00:02:50.560 --> 00:02:52.949 align:start position:0% because of the US Canada tax treaty saying<00:02:50.800><c> that</c><00:02:51.440><c> if</c><00:02:51.680><c> you're</c><00:02:51.840><c> not</c><00:02:52.080><c> yourself</c><00:02:52.720><c> in</c> 00:02:52.949 --> 00:02:52.959 align:start position:0% saying that if you're not yourself in 00:02:52.959 --> 00:02:55.430 align:start position:0% saying that if you're not yourself in that<00:02:53.920><c> state</c><00:02:54.239><c> or</c><00:02:54.480><c> in</c><00:02:54.720><c> or</c><00:02:54.879><c> in</c><00:02:55.040><c> the</c><00:02:55.200><c> United</c> 00:02:55.430 --> 00:02:55.440 align:start position:0% that state or in or in the United 00:02:55.440 --> 00:02:58.550 align:start position:0% that state or in or in the United States,<00:02:56.080><c> you</c><00:02:56.319><c> are</c><00:02:56.480><c> exempt</c><00:02:56.879><c> for</c><00:02:57.120><c> income</c><00:02:57.519><c> tax.</c> 00:02:58.550 --> 00:02:58.560 align:start position:0% States, you are exempt for income tax. 00:02:58.560 --> 00:03:00.869 align:start position:0% States, you are exempt for income tax. But<00:02:58.879><c> for</c><00:02:59.120><c> sales</c><00:02:59.440><c> tax,</c><00:02:59.920><c> it</c><00:03:00.080><c> is</c><00:03:00.239><c> a</c><00:03:00.400><c> completely</c> 00:03:00.869 --> 00:03:00.879 align:start position:0% But for sales tax, it is a completely 00:03:00.879 --> 00:03:02.070 align:start position:0% But for sales tax, it is a completely different<00:03:01.280><c> scenario.</c><00:03:01.437><c> [music]</c><00:03:01.840><c> What</c> 00:03:02.070 --> 00:03:02.080 align:start position:0% different scenario. [music] What 00:03:02.080 --> 00:03:04.070 align:start position:0% different scenario. [music] What happened<00:03:02.239><c> in</c><00:03:02.480><c> 2018</c><00:03:02.959><c> was</c><00:03:03.280><c> there</c><00:03:03.440><c> was</c><00:03:03.519><c> a</c><00:03:03.760><c> legal</c> 00:03:04.070 --> 00:03:04.080 align:start position:0% happened in 2018 was there was a legal 00:03:04.080 --> 00:03:06.869 align:start position:0% happened in 2018 was there was a legal dispute<00:03:04.800><c> between</c><00:03:05.519><c> the</c><00:03:06.000><c> e-commerce</c><00:03:06.480><c> company</c> 00:03:06.869 --> 00:03:06.879 align:start position:0% dispute between the e-commerce company 00:03:06.879 --> 00:03:09.430 align:start position:0% dispute between the e-commerce company Wayfair<00:03:07.519><c> and</c><00:03:07.840><c> the</c><00:03:08.000><c> state</c><00:03:08.159><c> of</c><00:03:08.400><c> South</c><00:03:08.640><c> Dakota.</c> 00:03:09.430 --> 00:03:09.440 align:start position:0% Wayfair and the state of South Dakota. 00:03:09.440 --> 00:03:12.470 align:start position:0% Wayfair and the state of South Dakota. The<00:03:09.680><c> ruling</c><00:03:10.080><c> was</c><00:03:10.560><c> that</c><00:03:10.959><c> states</c><00:03:11.519><c> can</c><00:03:11.760><c> now</c><00:03:12.159><c> tax</c> 00:03:12.470 --> 00:03:12.480 align:start position:0% The ruling was that states can now tax 00:03:12.480 --> 00:03:16.710 align:start position:0% The ruling was that states can now tax you<00:03:13.360><c> just</c><00:03:13.760><c> based</c><00:03:14.480><c> on</c><00:03:14.959><c> either</c><00:03:15.440><c> sales</c><00:03:15.760><c> volume</c><00:03:16.400><c> or</c> 00:03:16.710 --> 00:03:16.720 align:start position:0% you just based on either sales volume or 00:03:16.720 --> 00:03:17.830 align:start position:0% you just based on either sales volume or you<00:03:17.120><c> having</c><00:03:17.157><c> [music]</c> 00:03:17.830 --> 00:03:17.840 align:start position:0% you having [music] 00:03:17.840 --> 00:03:19.910 align:start position:0% you having [music] physical<00:03:18.239><c> nexus.</c><00:03:18.720><c> And</c><00:03:18.879><c> physical</c><00:03:19.200><c> nexus</c><00:03:19.599><c> here</c> 00:03:19.910 --> 00:03:19.920 align:start position:0% physical nexus. And physical nexus here 00:03:19.920 --> 00:03:23.350 align:start position:0% physical nexus. And physical nexus here means<00:03:20.800><c> a</c><00:03:21.120><c> warehouse</c><00:03:21.599><c> that</c><00:03:21.840><c> is</c><00:03:22.000><c> not</c><00:03:22.239><c> yours.</c><00:03:23.200><c> But</c> 00:03:23.350 --> 00:03:23.360 align:start position:0% means a warehouse that is not yours. But 00:03:23.360 --> 00:03:25.430 align:start position:0% means a warehouse that is not yours. But if<00:03:23.599><c> your</c><00:03:23.760><c> inventory</c><00:03:24.080><c> is</c><00:03:24.400><c> there,</c><00:03:24.720><c> that</c><00:03:25.040><c> is</c> 00:03:25.430 --> 00:03:25.440 align:start position:0% if your inventory is there, that is 00:03:25.440 --> 00:03:26.869 align:start position:0% if your inventory is there, that is basically<00:03:25.920><c> you</c><00:03:26.159><c> having</c><00:03:26.327><c> [music]</c> 00:03:26.869 --> 00:03:26.879 align:start position:0% basically you having [music] 00:03:26.879 --> 00:03:29.910 align:start position:0% basically you having [music] nexus<00:03:27.440><c> in</c><00:03:27.599><c> that</c><00:03:27.840><c> state</c><00:03:28.319><c> and</c><00:03:28.560><c> you're</c><00:03:28.800><c> liable</c><00:03:29.200><c> to</c> 00:03:29.910 --> 00:03:29.920 align:start position:0% nexus in that state and you're liable to 00:03:29.920 --> 00:03:32.390 align:start position:0% nexus in that state and you're liable to have<00:03:30.159><c> sales</c><00:03:30.480><c> tax</c><00:03:30.799><c> registration,</c><00:03:31.760><c> collection,</c> 00:03:32.390 --> 00:03:32.400 align:start position:0% have sales tax registration, collection, 00:03:32.400 --> 00:03:34.149 align:start position:0% have sales tax registration, collection, and<00:03:32.640><c> payment.</c><00:03:33.120><c> So</c><00:03:33.360><c> let's</c><00:03:33.599><c> talk</c><00:03:33.760><c> about</c><00:03:33.920><c> the</c> 00:03:34.149 --> 00:03:34.159 align:start position:0% and payment. So let's talk about the 00:03:34.159 --> 00:03:36.797 align:start position:0% and payment. So let's talk about the step-by-step<00:03:35.120><c> guidance</c><00:03:35.599><c> on</c><00:03:35.920><c> how</c><00:03:36.080><c> to</c><00:03:36.319><c> do</c> 00:03:36.797 --> 00:03:36.807 align:start position:0% step-by-step guidance on how to do 00:03:36.807 --> 00:03:38.630 align:start position:0% step-by-step guidance on how to do [music]<00:03:36.879><c> all</c><00:03:37.120><c> of</c><00:03:37.280><c> this.</c><00:03:37.599><c> So</c><00:03:37.840><c> number</c><00:03:38.000><c> one,</c><00:03:38.480><c> you</c> 00:03:38.630 --> 00:03:38.640 align:start position:0% [music] all of this. So number one, you 00:03:38.640 --> 00:03:40.949 align:start position:0% [music] all of this. So number one, you assess<00:03:38.959><c> your</c><00:03:39.200><c> nexus</c><00:03:39.920><c> and</c><00:03:40.239><c> you</c><00:03:40.400><c> track</c><00:03:40.720><c> your</c> 00:03:40.949 --> 00:03:40.959 align:start position:0% assess your nexus and you track your 00:03:40.959 --> 00:03:43.190 align:start position:0% assess your nexus and you track your sales<00:03:41.360><c> by</c><00:03:41.680><c> state.</c><00:03:42.400><c> I've</c><00:03:42.640><c> actually</c><00:03:42.879><c> made</c><00:03:43.040><c> a</c> 00:03:43.190 --> 00:03:43.200 align:start position:0% sales by state. I've actually made a 00:03:43.200 --> 00:03:45.670 align:start position:0% sales by state. I've actually made a calculator<00:03:44.400><c> which</c><00:03:44.640><c> is</c><00:03:44.720><c> in</c><00:03:44.879><c> the</c><00:03:45.040><c> description</c> 00:03:45.670 --> 00:03:45.680 align:start position:0% calculator which is in the description 00:03:45.680 --> 00:03:47.670 align:start position:0% calculator which is in the description telling<00:03:45.920><c> you</c><00:03:46.159><c> exactly</c><00:03:46.480><c> how</c><00:03:46.640><c> to</c><00:03:46.799><c> do</c><00:03:46.959><c> this.</c><00:03:47.440><c> You</c> 00:03:47.670 --> 00:03:47.680 align:start position:0% telling you exactly how to do this. You 00:03:47.680 --> 00:03:50.869 align:start position:0% telling you exactly how to do this. You can<00:03:47.840><c> put</c><00:03:48.080><c> your</c><00:03:48.560><c> values</c><00:03:48.959><c> for</c><00:03:49.280><c> each</c><00:03:49.599><c> sales</c><00:03:50.640><c> in</c> 00:03:50.869 --> 00:03:50.879 align:start position:0% can put your values for each sales in 00:03:50.879 --> 00:03:52.470 align:start position:0% can put your values for each sales in each<00:03:51.120><c> state</c><00:03:51.872><c> [music]</c><00:03:51.920><c> and</c><00:03:52.080><c> it's</c><00:03:52.319><c> going</c><00:03:52.400><c> to</c> 00:03:52.470 --> 00:03:52.480 align:start position:0% each state [music] and it's going to 00:03:52.480 --> 00:03:53.990 align:start position:0% each state [music] and it's going to tell<00:03:52.640><c> you</c><00:03:52.799><c> where</c><00:03:53.040><c> you</c><00:03:53.200><c> should</c><00:03:53.360><c> register</c><00:03:53.760><c> and</c> 00:03:53.990 --> 00:03:54.000 align:start position:0% tell you where you should register and 00:03:54.000 --> 00:03:56.149 align:start position:0% tell you where you should register and where<00:03:54.319><c> you're</c><00:03:54.799><c> below</c><00:03:55.040><c> the</c><00:03:55.280><c> threshold.</c><00:03:55.760><c> So</c><00:03:56.080><c> go</c> 00:03:56.149 --> 00:03:56.159 align:start position:0% where you're below the threshold. So go 00:03:56.159 --> 00:03:58.470 align:start position:0% where you're below the threshold. So go into<00:03:56.319><c> the</c><00:03:56.480><c> description,</c><00:03:57.040><c> find</c><00:03:57.280><c> it,</c><00:03:57.920><c> uh</c><00:03:58.159><c> by</c><00:03:58.319><c> all</c> 00:03:58.470 --> 00:03:58.480 align:start position:0% into the description, find it, uh by all 00:03:58.480 --> 00:03:59.910 align:start position:0% into the description, find it, uh by all means<00:03:58.720><c> use</c><00:03:58.879><c> it</c><00:03:59.077><c> [music]</c><00:03:59.120><c> as</c><00:03:59.280><c> you</c><00:03:59.439><c> like.</c><00:03:59.760><c> Number</c> 00:03:59.910 --> 00:03:59.920 align:start position:0% means use it [music] as you like. Number 00:03:59.920 --> 00:04:01.830 align:start position:0% means use it [music] as you like. Number two<00:04:00.080><c> is</c><00:04:00.239><c> you</c><00:04:00.400><c> should</c><00:04:00.560><c> get</c><00:04:00.720><c> an</c><00:04:00.879><c> EIN</c><00:04:01.439><c> or</c><00:04:01.680><c> an</c> 00:04:01.830 --> 00:04:01.840 align:start position:0% two is you should get an EIN or an 00:04:01.840 --> 00:04:03.750 align:start position:0% two is you should get an EIN or an employer<00:04:02.480><c> identification</c><00:04:02.959><c> number.</c><00:04:03.439><c> And</c><00:04:03.599><c> you</c> 00:04:03.750 --> 00:04:03.760 align:start position:0% employer identification number. And you 00:04:03.760 --> 00:04:06.470 align:start position:0% employer identification number. And you can<00:04:03.840><c> get</c><00:04:03.920><c> it</c><00:04:04.080><c> for</c><00:04:04.319><c> free</c><00:04:04.720><c> by</c><00:04:04.959><c> calling</c><00:04:05.280><c> the</c><00:04:05.439><c> IRS</c> 00:04:06.470 --> 00:04:06.480 align:start position:0% can get it for free by calling the IRS 00:04:06.480 --> 00:04:09.350 align:start position:0% can get it for free by calling the IRS on<00:04:06.799><c> this</c><00:04:07.040><c> number</c><00:04:07.360><c> on</c><00:04:07.599><c> my</c><00:04:07.840><c> screen</c><00:04:08.902><c> [music]</c><00:04:08.959><c> and</c> 00:04:09.350 --> 00:04:09.360 align:start position:0% on this number on my screen [music] and 00:04:09.360 --> 00:04:11.110 align:start position:0% on this number on my screen [music] and you<00:04:09.599><c> can</c><00:04:09.680><c> just</c><00:04:10.000><c> register</c><00:04:10.319><c> for</c><00:04:10.480><c> it.</c><00:04:10.799><c> Now,</c><00:04:10.959><c> if</c> 00:04:11.110 --> 00:04:11.120 align:start position:0% you can just register for it. Now, if 00:04:11.120 --> 00:04:12.949 align:start position:0% you can just register for it. Now, if you<00:04:11.200><c> need</c><00:04:11.360><c> step-by-step</c><00:04:12.000><c> instructions</c><00:04:12.720><c> on</c> 00:04:12.949 --> 00:04:12.959 align:start position:0% you need step-by-step instructions on 00:04:12.959 --> 00:04:15.589 align:start position:0% you need step-by-step instructions on how<00:04:13.120><c> to</c><00:04:13.280><c> do</c><00:04:13.439><c> that,</c><00:04:14.080><c> that</c><00:04:14.400><c> is</c><00:04:14.640><c> in</c><00:04:14.797><c> [music]</c><00:04:15.280><c> this</c> 00:04:15.589 --> 00:04:15.599 align:start position:0% how to do that, that is in [music] this 00:04:15.599 --> 00:04:17.590 align:start position:0% how to do that, that is in [music] this video<00:04:16.160><c> and</c><00:04:16.479><c> where</c><00:04:16.639><c> I</c><00:04:16.880><c> talk</c><00:04:17.040><c> about</c><00:04:17.199><c> how</c><00:04:17.359><c> to</c><00:04:17.440><c> get</c> 00:04:17.590 --> 00:04:17.600 align:start position:0% video and where I talk about how to get 00:04:17.600 --> 00:04:19.430 align:start position:0% video and where I talk about how to get it<00:04:17.840><c> the</c><00:04:18.079><c> exact</c><00:04:18.320><c> same</c><00:04:18.479><c> day</c><00:04:18.799><c> by</c><00:04:19.040><c> just</c><00:04:19.199><c> calling</c> 00:04:19.430 --> 00:04:19.440 align:start position:0% it the exact same day by just calling 00:04:19.440 --> 00:04:21.590 align:start position:0% it the exact same day by just calling the<00:04:19.519><c> IRS.</c><00:04:20.160><c> Once</c><00:04:20.400><c> you've</c><00:04:20.639><c> done</c><00:04:20.799><c> that,</c><00:04:21.199><c> you</c><00:04:21.440><c> know</c> 00:04:21.590 --> 00:04:21.600 align:start position:0% the IRS. Once you've done that, you know 00:04:21.600 --> 00:04:23.030 align:start position:0% the IRS. Once you've done that, you know you've<00:04:21.919><c> you</c><00:04:22.240><c> which</c><00:04:22.479><c> states</c><00:04:22.720><c> you</c><00:04:22.880><c> have</c><00:04:22.960><c> to</c> 00:04:23.030 --> 00:04:23.040 align:start position:0% you've you which states you have to 00:04:23.040 --> 00:04:24.550 align:start position:0% you've you which states you have to register<00:04:23.360><c> in,</c><00:04:23.680><c> you</c><00:04:23.840><c> have</c><00:04:23.919><c> an</c><00:04:24.080><c> employer</c> 00:04:24.550 --> 00:04:24.560 align:start position:0% register in, you have an employer 00:04:24.560 --> 00:04:25.990 align:start position:0% register in, you have an employer identification,<00:04:25.440><c> you</c><00:04:25.680><c> have</c><00:04:25.840><c> to</c><00:04:25.932><c> [music]</c> 00:04:25.990 --> 00:04:26.000 align:start position:0% identification, you have to [music] 00:04:26.000 --> 00:04:28.790 align:start position:0% identification, you have to [music] register<00:04:26.639><c> in</c><00:04:26.960><c> each</c><00:04:27.199><c> state</c><00:04:27.680><c> separately.</c><00:04:28.479><c> And</c><00:04:28.639><c> I</c> 00:04:28.790 --> 00:04:28.800 align:start position:0% register in each state separately. And I 00:04:28.800 --> 00:04:30.710 align:start position:0% register in each state separately. And I highly<00:04:29.120><c> recommend</c><00:04:29.440><c> using</c><00:04:29.840><c> tools</c><00:04:30.160><c> to</c><00:04:30.400><c> do</c><00:04:30.479><c> that.</c> 00:04:30.710 --> 00:04:30.720 align:start position:0% highly recommend using tools to do that. 00:04:30.720 --> 00:04:33.030 align:start position:0% highly recommend using tools to do that. So<00:04:30.960><c> for</c><00:04:31.040><c> example,</c><00:04:31.360><c> you</c><00:04:31.600><c> have</c><00:04:31.759><c> Shopify</c><00:04:32.240><c> tax,</c> 00:04:33.030 --> 00:04:33.040 align:start position:0% So for example, you have Shopify tax, 00:04:33.040 --> 00:04:35.909 align:start position:0% So for example, you have Shopify tax, you<00:04:33.120><c> have</c><00:04:33.360><c> Ailara,</c><00:04:34.160><c> you've</c><00:04:34.320><c> got</c><00:04:34.479><c> Tax</c><00:04:34.880><c> Jar.</c><00:04:35.759><c> If</c> 00:04:35.909 --> 00:04:35.919 align:start position:0% you have Ailara, you've got Tax Jar. If 00:04:35.919 --> 00:04:37.590 align:start position:0% you have Ailara, you've got Tax Jar. If you<00:04:36.000><c> want</c><00:04:36.160><c> me</c><00:04:36.320><c> to</c><00:04:36.560><c> talk</c><00:04:36.720><c> about</c><00:04:36.960><c> all</c><00:04:37.120><c> of</c><00:04:37.199><c> these</c> 00:04:37.590 --> 00:04:37.600 align:start position:0% you want me to talk about all of these 00:04:37.600 --> 00:04:39.830 align:start position:0% you want me to talk about all of these and<00:04:38.240><c> talk</c><00:04:38.479><c> about</c><00:04:38.639><c> which</c><00:04:38.880><c> tool</c><00:04:39.199><c> I</c><00:04:39.520><c> find</c><00:04:39.680><c> the</c> 00:04:39.830 --> 00:04:39.840 align:start position:0% and talk about which tool I find the 00:04:39.840 --> 00:04:41.590 align:start position:0% and talk about which tool I find the best,<00:04:40.240><c> happy</c><00:04:40.479><c> to</c><00:04:40.639><c> do</c><00:04:40.720><c> that</c><00:04:40.880><c> if</c><00:04:41.040><c> you</c><00:04:41.199><c> leave</c><00:04:41.360><c> me</c><00:04:41.440><c> a</c> 00:04:41.590 --> 00:04:41.600 align:start position:0% best, happy to do that if you leave me a 00:04:41.600 --> 00:04:44.550 align:start position:0% best, happy to do that if you leave me a comment<00:04:42.160><c> uh</c><00:04:42.320><c> down</c><00:04:42.560><c> below.</c><00:04:43.520><c> But</c><00:04:44.080><c> use</c><00:04:44.320><c> those</c> 00:04:44.550 --> 00:04:44.560 align:start position:0% comment uh down below. But use those 00:04:44.560 --> 00:04:47.030 align:start position:0% comment uh down below. But use those tools<00:04:45.120><c> to</c><00:04:45.440><c> register</c><00:04:45.840><c> for</c><00:04:46.000><c> sales</c><00:04:46.240><c> tax</c><00:04:46.639><c> and</c><00:04:46.800><c> to</c> 00:04:47.030 --> 00:04:47.040 align:start position:0% tools to register for sales tax and to 00:04:47.040 --> 00:04:49.110 align:start position:0% tools to register for sales tax and to automatically<00:04:47.759><c> collect</c><00:04:48.080><c> those</c><00:04:48.320><c> sales</c><00:04:48.560><c> tax</c> 00:04:49.110 --> 00:04:49.120 align:start position:0% automatically collect those sales tax 00:04:49.120 --> 00:04:52.469 align:start position:0% automatically collect those sales tax based<00:04:49.520><c> on</c><00:04:50.240><c> where</c><00:04:50.720><c> the</c><00:04:51.040><c> your</c><00:04:51.440><c> customer</c><00:04:51.840><c> is.</c><00:04:52.320><c> So</c> 00:04:52.469 --> 00:04:52.479 align:start position:0% based on where the your customer is. So 00:04:52.479 --> 00:04:54.150 align:start position:0% based on where the your customer is. So when<00:04:52.639><c> the</c><00:04:52.800><c> customer</c><00:04:53.040><c> puts</c><00:04:53.360><c> their</c><00:04:53.520><c> zip</c><00:04:53.759><c> code</c> 00:04:54.150 --> 00:04:54.160 align:start position:0% when the customer puts their zip code 00:04:54.160 --> 00:04:55.398 align:start position:0% when the customer puts their zip code when<00:04:54.400><c> they're</c><00:04:54.800><c> putting</c><00:04:55.120><c> the</c><00:04:55.280><c> purchase,</c> 00:04:55.398 --> 00:04:55.408 align:start position:0% when they're putting the purchase, 00:04:55.408 --> 00:04:56.870 align:start position:0% when they're putting the purchase, [music]<00:04:55.840><c> it's</c><00:04:56.080><c> going</c><00:04:56.160><c> to</c><00:04:56.320><c> automatically</c> 00:04:56.870 --> 00:04:56.880 align:start position:0% [music] it's going to automatically 00:04:56.880 --> 00:04:59.110 align:start position:0% [music] it's going to automatically calculate<00:04:57.360><c> sales</c><00:04:57.680><c> tax</c><00:04:58.240><c> based</c><00:04:58.560><c> on</c><00:04:58.639><c> their</c><00:04:58.880><c> zip</c> 00:04:59.110 --> 00:04:59.120 align:start position:0% calculate sales tax based on their zip 00:04:59.120 --> 00:05:00.790 align:start position:0% calculate sales tax based on their zip code.<00:04:59.600><c> and</c><00:04:59.759><c> then</c><00:04:59.919><c> it's</c><00:05:00.080><c> going</c><00:05:00.240><c> to</c><00:05:00.560><c> collect</c> 00:05:00.790 --> 00:05:00.800 align:start position:0% code. and then it's going to collect 00:05:00.800 --> 00:05:02.870 align:start position:0% code. and then it's going to collect that<00:05:01.040><c> and</c><00:05:01.280><c> remit</c><00:05:01.600><c> it</c><00:05:01.840><c> to</c><00:05:02.160><c> the</c><00:05:02.400><c> government</c><00:05:02.720><c> as</c> 00:05:02.870 --> 00:05:02.880 align:start position:0% that and remit it to the government as 00:05:02.880 --> 00:05:04.950 align:start position:0% that and remit it to the government as well.<00:05:03.120><c> Again,</c><00:05:03.600><c> I</c><00:05:03.840><c> am</c><00:05:03.919><c> happy</c><00:05:04.080><c> to</c><00:05:04.240><c> make</c><00:05:04.320><c> a</c><00:05:04.479><c> video</c> 00:05:04.950 --> 00:05:04.960 align:start position:0% well. Again, I am happy to make a video 00:05:04.960 --> 00:05:07.189 align:start position:0% well. Again, I am happy to make a video separately<00:05:05.360><c> on</c><00:05:05.520><c> which</c><00:05:05.759><c> tool</c><00:05:06.000><c> I</c><00:05:06.240><c> like</c><00:05:06.400><c> the</c><00:05:06.560><c> best</c> 00:05:07.189 --> 00:05:07.199 align:start position:0% separately on which tool I like the best 00:05:07.199 --> 00:05:08.390 align:start position:0% separately on which tool I like the best and<00:05:07.440><c> if</c><00:05:07.600><c> you</c><00:05:07.759><c> just</c><00:05:07.919><c> let</c><00:05:08.000><c> me</c><00:05:08.080><c> know</c><00:05:08.160><c> in</c><00:05:08.320><c> the</c> 00:05:08.390 --> 00:05:08.400 align:start position:0% and if you just let me know in the 00:05:08.400 --> 00:05:10.469 align:start position:0% and if you just let me know in the comments<00:05:08.639><c> below.</c><00:05:09.199><c> Now,</c><00:05:09.600><c> just</c><00:05:09.840><c> be</c><00:05:10.000><c> careful</c><00:05:10.240><c> on</c> 00:05:10.469 --> 00:05:10.479 align:start position:0% comments below. Now, just be careful on 00:05:10.479 --> 00:05:12.950 align:start position:0% comments below. Now, just be careful on one<00:05:10.639><c> thing.</c><00:05:11.280><c> If</c><00:05:11.440><c> in</c><00:05:11.680><c> a</c><00:05:11.759><c> certain</c><00:05:12.080><c> year</c><00:05:12.400><c> your</c> 00:05:12.950 --> 00:05:12.960 align:start position:0% one thing. If in a certain year your 00:05:12.960 --> 00:05:15.510 align:start position:0% one thing. If in a certain year your sales<00:05:13.520><c> in</c><00:05:13.759><c> that</c><00:05:14.000><c> one</c><00:05:14.240><c> state</c><00:05:14.720><c> dip</c><00:05:15.039><c> below</c><00:05:15.360><c> the</c> 00:05:15.510 --> 00:05:15.520 align:start position:0% sales in that one state dip below the 00:05:15.520 --> 00:05:17.510 align:start position:0% sales in that one state dip below the threshold<00:05:15.713><c> [music]</c><00:05:16.000><c> or</c><00:05:16.320><c> there's</c><00:05:16.639><c> zero,</c><00:05:17.199><c> you</c> 00:05:17.510 --> 00:05:17.520 align:start position:0% threshold [music] or there's zero, you 00:05:17.520 --> 00:05:20.288 align:start position:0% threshold [music] or there's zero, you still<00:05:17.840><c> have</c><00:05:18.080><c> to</c><00:05:18.880><c> collect</c><00:05:19.280><c> those</c><00:05:19.840><c> sales</c><00:05:20.240><c> taxs</c> 00:05:20.288 --> 00:05:20.298 align:start position:0% still have to collect those sales taxs 00:05:20.298 --> 00:05:22.310 align:start position:0% still have to collect those sales taxs [music]<00:05:20.800><c> and</c><00:05:21.039><c> still</c><00:05:21.280><c> remitt</c><00:05:21.600><c> it.</c><00:05:22.000><c> And</c><00:05:22.160><c> you</c> 00:05:22.310 --> 00:05:22.320 align:start position:0% [music] and still remitt it. And you 00:05:22.320 --> 00:05:23.990 align:start position:0% [music] and still remitt it. And you still,<00:05:22.720><c> even</c><00:05:22.960><c> if</c><00:05:23.039><c> it's</c><00:05:23.199><c> zero,</c><00:05:23.520><c> you</c><00:05:23.759><c> still</c><00:05:23.919><c> have</c> 00:05:23.990 --> 00:05:24.000 align:start position:0% still, even if it's zero, you still have 00:05:24.000 --> 00:05:25.990 align:start position:0% still, even if it's zero, you still have to<00:05:24.160><c> file</c><00:05:24.479><c> a</c><00:05:24.639><c> zero</c><00:05:25.039><c> return.</c><00:05:25.680><c> There</c><00:05:25.840><c> are</c> 00:05:25.990 --> 00:05:26.000 align:start position:0% to file a zero return. There are 00:05:26.000 --> 00:05:28.070 align:start position:0% to file a zero return. There are penalties<00:05:26.400><c> for</c><00:05:26.639><c> not</c><00:05:26.800><c> doing</c><00:05:27.039><c> that.</c><00:05:27.759><c> Sometimes</c> 00:05:28.070 --> 00:05:28.080 align:start position:0% penalties for not doing that. Sometimes 00:05:28.080 --> 00:05:31.029 align:start position:0% penalties for not doing that. Sometimes it's<00:05:28.320><c> as</c><00:05:28.560><c> small</c><00:05:28.800><c> as</c><00:05:29.120><c> $60</c><00:05:29.680><c> in</c><00:05:30.000><c> Texas,</c><00:05:30.639><c> but</c><00:05:30.800><c> they</c> 00:05:31.029 --> 00:05:31.039 align:start position:0% it's as small as $60 in Texas, but they 00:05:31.039 --> 00:05:33.270 align:start position:0% it's as small as $60 in Texas, but they can<00:05:31.199><c> rise</c><00:05:31.680><c> with</c><00:05:31.919><c> different</c><00:05:32.160><c> states.</c><00:05:32.960><c> The</c><00:05:33.120><c> next</c> 00:05:33.270 --> 00:05:33.280 align:start position:0% can rise with different states. The next 00:05:33.280 --> 00:05:35.510 align:start position:0% can rise with different states. The next step<00:05:33.440><c> is</c><00:05:33.600><c> to</c><00:05:33.840><c> make</c><00:05:34.000><c> sure</c><00:05:34.160><c> that</c><00:05:34.479><c> you</c><00:05:34.880><c> are</c><00:05:35.039><c> on</c><00:05:35.280><c> top</c> 00:05:35.510 --> 00:05:35.520 align:start position:0% step is to make sure that you are on top 00:05:35.520 --> 00:05:38.150 align:start position:0% step is to make sure that you are on top of<00:05:35.759><c> your</c><00:05:36.240><c> filing</c><00:05:36.800><c> frequency.</c><00:05:37.328><c> [music]</c><00:05:37.680><c> So,</c><00:05:37.919><c> it</c> 00:05:38.150 --> 00:05:38.160 align:start position:0% of your filing frequency. [music] So, it 00:05:38.160 --> 00:05:39.749 align:start position:0% of your filing frequency. [music] So, it could<00:05:38.240><c> be</c><00:05:38.400><c> monthly,</c><00:05:38.800><c> it</c><00:05:38.960><c> could</c><00:05:39.039><c> be</c><00:05:39.199><c> quarterly,</c> 00:05:39.749 --> 00:05:39.759 align:start position:0% could be monthly, it could be quarterly, 00:05:39.759 --> 00:05:41.590 align:start position:0% could be monthly, it could be quarterly, or<00:05:40.000><c> it</c><00:05:40.160><c> could</c><00:05:40.240><c> be</c><00:05:40.320><c> annual</c><00:05:40.800><c> based</c><00:05:41.039><c> on</c><00:05:41.280><c> the</c> 00:05:41.590 --> 00:05:41.600 align:start position:0% or it could be annual based on the 00:05:41.600 --> 00:05:43.430 align:start position:0% or it could be annual based on the volume<00:05:41.840><c> in</c><00:05:42.080><c> each</c><00:05:42.240><c> state.</c><00:05:42.880><c> But</c><00:05:43.039><c> just</c><00:05:43.199><c> make</c><00:05:43.360><c> sure</c> 00:05:43.430 --> 00:05:43.440 align:start position:0% volume in each state. But just make sure 00:05:43.440 --> 00:05:45.430 align:start position:0% volume in each state. But just make sure you're<00:05:43.680><c> on</c><00:05:43.840><c> top</c><00:05:44.000><c> of</c><00:05:44.080><c> that.</c><00:05:44.800><c> And</c><00:05:45.039><c> I</c><00:05:45.280><c> would</c> 00:05:45.430 --> 00:05:45.440 align:start position:0% you're on top of that. And I would 00:05:45.440 --> 00:05:47.590 align:start position:0% you're on top of that. And I would highly<00:05:45.759><c> suggest</c><00:05:46.000><c> using</c><00:05:46.320><c> an</c><00:05:46.560><c> online</c><00:05:46.880><c> tool</c><00:05:47.360><c> that</c> 00:05:47.590 --> 00:05:47.600 align:start position:0% highly suggest using an online tool that 00:05:47.600 --> 00:05:49.510 align:start position:0% highly suggest using an online tool that can<00:05:47.759><c> help</c><00:05:47.919><c> you</c><00:05:48.160><c> automate</c><00:05:48.560><c> all</c><00:05:48.720><c> of</c><00:05:48.880><c> this.</c><00:05:49.280><c> I</c> 00:05:49.510 --> 00:05:49.520 align:start position:0% can help you automate all of this. I 00:05:49.520 --> 00:05:51.670 align:start position:0% can help you automate all of this. I would<00:05:49.680><c> also</c><00:05:49.919><c> recommend</c><00:05:50.400><c> keeping</c><00:05:50.800><c> records</c><00:05:51.360><c> for</c> 00:05:51.670 --> 00:05:51.680 align:start position:0% would also recommend keeping records for 00:05:51.680 --> 00:05:54.790 align:start position:0% would also recommend keeping records for years.<00:05:52.639><c> IRS</c><00:05:53.120><c> and</c><00:05:53.360><c> states</c><00:05:53.759><c> can</c><00:05:54.000><c> go</c><00:05:54.160><c> back</c><00:05:54.479><c> up</c><00:05:54.639><c> to</c> 00:05:54.790 --> 00:05:54.800 align:start position:0% years. IRS and states can go back up to 00:05:54.800 --> 00:05:57.270 align:start position:0% years. IRS and states can go back up to 6<00:05:55.039><c> years</c><00:05:55.360><c> to</c><00:05:55.600><c> audit</c><00:05:56.000><c> you.</c><00:05:56.639><c> And</c><00:05:56.880><c> again,</c><00:05:57.120><c> if</c> 00:05:57.270 --> 00:05:57.280 align:start position:0% 6 years to audit you. And again, if 00:05:57.280 --> 00:05:58.550 align:start position:0% 6 years to audit you. And again, if you're<00:05:57.440><c> using</c><00:05:57.600><c> a</c><00:05:57.759><c> tool,</c><00:05:58.160><c> that's</c><00:05:58.400><c> going</c><00:05:58.479><c> to</c> 00:05:58.550 --> 00:05:58.560 align:start position:0% you're using a tool, that's going to 00:05:58.560 --> 00:05:59.830 align:start position:0% you're using a tool, that's going to help<00:05:58.720><c> you</c><00:05:58.880><c> because</c><00:05:59.120><c> that's</c><00:05:59.360><c> going</c><00:05:59.440><c> to</c><00:05:59.520><c> stay</c><00:05:59.680><c> in</c> 00:05:59.830 --> 00:05:59.840 align:start position:0% help you because that's going to stay in 00:05:59.840 --> 00:06:01.670 align:start position:0% help you because that's going to stay in your<00:06:00.080><c> record</c><00:06:00.560><c> for</c><00:06:00.800><c> years</c><00:06:01.039><c> to</c><00:06:01.199><c> come.</c><00:06:01.440><c> Now,</c> 00:06:01.670 --> 00:06:01.680 align:start position:0% your record for years to come. Now, 00:06:01.680 --> 00:06:02.870 align:start position:0% your record for years to come. Now, let's<00:06:01.840><c> talk</c><00:06:02.000><c> about</c><00:06:02.160><c> some</c><00:06:02.400><c> of</c><00:06:02.479><c> the</c><00:06:02.639><c> biggest</c> 00:06:02.870 --> 00:06:02.880 align:start position:0% let's talk about some of the biggest 00:06:02.880 --> 00:06:04.950 align:start position:0% let's talk about some of the biggest mistakes<00:06:03.360><c> that</c><00:06:03.759><c> e-commerce</c><00:06:04.240><c> store</c><00:06:04.479><c> owners</c> 00:06:04.950 --> 00:06:04.960 align:start position:0% mistakes that e-commerce store owners 00:06:04.960 --> 00:06:07.590 align:start position:0% mistakes that e-commerce store owners make<00:06:05.280><c> when</c><00:06:05.520><c> it</c><00:06:05.600><c> comes</c><00:06:05.759><c> to</c><00:06:06.160><c> sales</c><00:06:06.479><c> tax.</c><00:06:07.360><c> Number</c> 00:06:07.590 --> 00:06:07.600 align:start position:0% make when it comes to sales tax. Number 00:06:07.600 --> 00:06:09.749 align:start position:0% make when it comes to sales tax. Number one,<00:06:08.160><c> assuming</c><00:06:08.800><c> Shopify</c><00:06:09.360><c> would</c><00:06:09.600><c> do</c> 00:06:09.749 --> 00:06:09.759 align:start position:0% one, assuming Shopify would do 00:06:09.759 --> 00:06:12.550 align:start position:0% one, assuming Shopify would do everything<00:06:10.160><c> for</c><00:06:10.400><c> you.</c><00:06:11.520><c> You</c><00:06:11.840><c> should</c><00:06:12.000><c> be</c><00:06:12.160><c> making</c> 00:06:12.550 --> 00:06:12.560 align:start position:0% everything for you. You should be making 00:06:12.560 --> 00:06:14.309 align:start position:0% everything for you. You should be making sure<00:06:12.720><c> that</c><00:06:13.039><c> you're</c><00:06:13.199><c> on</c><00:06:13.440><c> top</c><00:06:13.520><c> of</c><00:06:13.600><c> it,</c><00:06:13.919><c> not</c><00:06:14.160><c> just</c> 00:06:14.309 --> 00:06:14.319 align:start position:0% sure that you're on top of it, not just 00:06:14.319 --> 00:06:16.790 align:start position:0% sure that you're on top of it, not just leaving<00:06:14.560><c> it</c><00:06:14.720><c> to</c><00:06:14.880><c> Shopify</c><00:06:15.360><c> tax</c><00:06:15.759><c> to</c><00:06:16.000><c> do</c><00:06:16.160><c> it.</c><00:06:16.639><c> You</c> 00:06:16.790 --> 00:06:16.800 align:start position:0% leaving it to Shopify tax to do it. You 00:06:16.800 --> 00:06:18.790 align:start position:0% leaving it to Shopify tax to do it. You should<00:06:16.960><c> be</c><00:06:17.120><c> checking</c><00:06:17.440><c> it</c><00:06:17.600><c> regularly.</c><00:06:18.400><c> It</c><00:06:18.639><c> is</c> 00:06:18.790 --> 00:06:18.800 align:start position:0% should be checking it regularly. It is 00:06:18.800 --> 00:06:20.629 align:start position:0% should be checking it regularly. It is not<00:06:18.960><c> like</c><00:06:19.199><c> Amazon</c><00:06:19.600><c> that</c><00:06:19.919><c> just</c><00:06:20.080><c> collects</c><00:06:20.479><c> it</c> 00:06:20.629 --> 00:06:20.639 align:start position:0% not like Amazon that just collects it 00:06:20.639 --> 00:06:22.150 align:start position:0% not like Amazon that just collects it and<00:06:20.960><c> pays</c><00:06:21.120><c> it</c><00:06:21.280><c> for</c><00:06:21.440><c> you</c><00:06:21.520><c> and</c><00:06:21.759><c> you</c><00:06:21.840><c> don't</c><00:06:22.000><c> even</c> 00:06:22.150 --> 00:06:22.160 align:start position:0% and pays it for you and you don't even 00:06:22.160 --> 00:06:23.510 align:start position:0% and pays it for you and you don't even have<00:06:22.240><c> to</c><00:06:22.400><c> worry</c><00:06:22.560><c> about</c><00:06:22.800><c> anything.</c><00:06:23.179><c> [music]</c> 00:06:23.510 --> 00:06:23.520 align:start position:0% have to worry about anything. [music] 00:06:23.520 --> 00:06:25.510 align:start position:0% have to worry about anything. [music] shop<00:06:23.840><c> in</c><00:06:24.000><c> Shopify,</c><00:06:24.479><c> you</c><00:06:24.639><c> need</c><00:06:24.720><c> to</c><00:06:24.880><c> be</c><00:06:25.039><c> having</c> 00:06:25.510 --> 00:06:25.520 align:start position:0% shop in Shopify, you need to be having 00:06:25.520 --> 00:06:27.754 align:start position:0% shop in Shopify, you need to be having your<00:06:25.840><c> hands</c><00:06:26.160><c> dirty</c><00:06:26.639><c> with</c><00:06:26.960><c> the</c><00:06:27.199><c> sales</c><00:06:27.440><c> tax</c> 00:06:27.754 --> 00:06:27.764 align:start position:0% your hands dirty with the sales tax 00:06:27.764 --> 00:06:29.270 align:start position:0% your hands dirty with the sales tax [music]<00:06:28.000><c> registration,</c><00:06:28.639><c> filing,</c><00:06:29.039><c> and</c> 00:06:29.270 --> 00:06:29.280 align:start position:0% [music] registration, filing, and 00:06:29.280 --> 00:06:31.909 align:start position:0% [music] registration, filing, and payments.<00:06:30.560><c> Number</c><00:06:30.880><c> two,</c><00:06:31.360><c> thinking</c><00:06:31.680><c> you're</c> 00:06:31.909 --> 00:06:31.919 align:start position:0% payments. Number two, thinking you're 00:06:31.919 --> 00:06:34.950 align:start position:0% payments. Number two, thinking you're too<00:06:32.160><c> small</c><00:06:32.880><c> for</c><00:06:33.360><c> registering</c><00:06:33.759><c> for</c><00:06:33.919><c> sales</c><00:06:34.160><c> tax.</c> 00:06:34.950 --> 00:06:34.960 align:start position:0% too small for registering for sales tax. 00:06:34.960 --> 00:06:37.830 align:start position:0% too small for registering for sales tax. I<00:06:35.440><c> repeat,</c><00:06:36.000><c> most</c><00:06:36.560><c> states</c><00:06:36.934><c> [music]</c><00:06:37.039><c> have</c><00:06:37.280><c> only</c> 00:06:37.830 --> 00:06:37.840 align:start position:0% I repeat, most states [music] have only 00:06:37.840 --> 00:06:40.150 align:start position:0% I repeat, most states [music] have only $100,000<00:06:39.120><c> as</c><00:06:39.360><c> your</c><00:06:39.600><c> threshold</c><00:06:39.919><c> for</c> 00:06:40.150 --> 00:06:40.160 align:start position:0% $100,000 as your threshold for 00:06:40.160 --> 00:06:41.990 align:start position:0% $100,000 as your threshold for registering<00:06:40.560><c> all</c><00:06:40.720><c> of</c><00:06:40.880><c> this.</c><00:06:41.440><c> If</c><00:06:41.680><c> you</c><00:06:41.840><c> don't</c> 00:06:41.990 --> 00:06:42.000 align:start position:0% registering all of this. If you don't 00:06:42.000 --> 00:06:44.710 align:start position:0% registering all of this. If you don't collect<00:06:42.240><c> that</c><00:06:42.479><c> sales</c><00:06:42.720><c> tax,</c><00:06:43.360><c> they</c><00:06:43.680><c> can</c><00:06:44.479><c> find</c> 00:06:44.710 --> 00:06:44.720 align:start position:0% collect that sales tax, they can find 00:06:44.720 --> 00:06:47.270 align:start position:0% collect that sales tax, they can find you<00:06:44.880><c> and</c><00:06:45.120><c> they</c><00:06:45.360><c> can</c><00:06:45.520><c> also</c><00:06:45.840><c> ask</c><00:06:46.080><c> you</c><00:06:46.240><c> to</c><00:06:46.479><c> pay</c><00:06:47.039><c> out</c> 00:06:47.270 --> 00:06:47.280 align:start position:0% you and they can also ask you to pay out 00:06:47.280 --> 00:06:49.670 align:start position:0% you and they can also ask you to pay out of<00:06:47.600><c> pocket.</c><00:06:48.160><c> States</c><00:06:48.479><c> have</c><00:06:48.800><c> also</c><00:06:49.039><c> now</c><00:06:49.360><c> started</c> 00:06:49.670 --> 00:06:49.680 align:start position:0% of pocket. States have also now started 00:06:49.680 --> 00:06:52.309 align:start position:0% of pocket. States have also now started to<00:06:49.919><c> audit</c><00:06:50.400><c> warehouses</c><00:06:50.960><c> to</c><00:06:51.280><c> see</c><00:06:51.520><c> their</c><00:06:51.919><c> list</c><00:06:52.080><c> of</c> 00:06:52.309 --> 00:06:52.319 align:start position:0% to audit warehouses to see their list of 00:06:52.319 --> 00:06:54.629 align:start position:0% to audit warehouses to see their list of customers<00:06:53.120><c> and</c><00:06:53.360><c> that</c><00:06:53.600><c> way</c><00:06:53.840><c> they</c><00:06:54.080><c> can</c> 00:06:54.629 --> 00:06:54.639 align:start position:0% customers and that way they can 00:06:54.639 --> 00:06:56.550 align:start position:0% customers and that way they can literally<00:06:55.039><c> come</c><00:06:55.199><c> after</c><00:06:55.440><c> you</c><00:06:55.759><c> because</c><00:06:56.240><c> you</c> 00:06:56.550 --> 00:06:56.560 align:start position:0% literally come after you because you 00:06:56.560 --> 00:06:58.550 align:start position:0% literally come after you because you would<00:06:56.720><c> be</c><00:06:56.880><c> on</c><00:06:57.039><c> the</c><00:06:57.199><c> list</c><00:06:57.360><c> of</c><00:06:57.919><c> the</c><00:06:58.160><c> customers</c> 00:06:58.550 --> 00:06:58.560 align:start position:0% would be on the list of the customers 00:06:58.560 --> 00:07:01.270 align:start position:0% would be on the list of the customers for<00:06:58.800><c> your</c><00:06:59.039><c> 3PL</c><00:06:59.599><c> warehouse.</c><00:07:00.240><c> Number</c><00:07:00.479><c> three,</c> 00:07:01.270 --> 00:07:01.280 align:start position:0% for your 3PL warehouse. Number three, 00:07:01.280 --> 00:07:03.909 align:start position:0% for your 3PL warehouse. Number three, thinking<00:07:01.759><c> you</c><00:07:02.000><c> can</c><00:07:02.160><c> do</c><00:07:02.240><c> this</c><00:07:02.479><c> yourself.</c><00:07:03.759><c> There</c> 00:07:03.909 --> 00:07:03.919 align:start position:0% thinking you can do this yourself. There 00:07:03.919 --> 00:07:05.430 align:start position:0% thinking you can do this yourself. There are<00:07:04.080><c> numerous</c><00:07:04.400><c> tools</c><00:07:04.639><c> out</c><00:07:04.800><c> there</c><00:07:04.880><c> to</c><00:07:05.120><c> help</c><00:07:05.280><c> you</c> 00:07:05.430 --> 00:07:05.440 align:start position:0% are numerous tools out there to help you 00:07:05.440 --> 00:07:06.870 align:start position:0% are numerous tools out there to help you out.<00:07:05.919><c> Do</c><00:07:06.160><c> not</c><00:07:06.319><c> attempt</c><00:07:06.409><c> [music]</c><00:07:06.560><c> these</c> 00:07:06.870 --> 00:07:06.880 align:start position:0% out. Do not attempt [music] these 00:07:06.880 --> 00:07:10.150 align:start position:0% out. Do not attempt [music] these yourself.<00:07:07.840><c> You</c><00:07:08.080><c> can</c><00:07:08.319><c> either</c><00:07:08.720><c> use</c><00:07:09.280><c> Tax</c><00:07:09.680><c> Jar,</c> 00:07:10.150 --> 00:07:10.160 align:start position:0% yourself. You can either use Tax Jar, 00:07:10.160 --> 00:07:13.110 align:start position:0% yourself. You can either use Tax Jar, Ailara,<00:07:11.199><c> Shopify</c><00:07:11.759><c> Tax.</c><00:07:12.560><c> There's</c><00:07:12.720><c> a</c><00:07:12.880><c> couple</c> 00:07:13.110 --> 00:07:13.120 align:start position:0% Ailara, Shopify Tax. There's a couple 00:07:13.120 --> 00:07:15.510 align:start position:0% Ailara, Shopify Tax. There's a couple others<00:07:13.440><c> like</c><00:07:13.680><c> Numero,</c><00:07:14.800><c> but</c><00:07:15.039><c> there's</c><00:07:15.280><c> so</c><00:07:15.440><c> many</c> 00:07:15.510 --> 00:07:15.520 align:start position:0% others like Numero, but there's so many 00:07:15.520 --> 00:07:17.189 align:start position:0% others like Numero, but there's so many tools<00:07:15.840><c> out</c><00:07:16.000><c> there.</c><00:07:16.319><c> Do</c><00:07:16.560><c> not</c><00:07:16.720><c> attempt</c><00:07:16.960><c> to</c><00:07:17.120><c> do</c> 00:07:17.189 --> 00:07:17.199 align:start position:0% tools out there. Do not attempt to do 00:07:17.199 --> 00:07:19.029 align:start position:0% tools out there. Do not attempt to do these<00:07:17.440><c> yourself</c><00:07:18.080><c> because</c><00:07:18.319><c> it's</c><00:07:18.639><c> not</c><00:07:18.800><c> worth</c> 00:07:19.029 --> 00:07:19.039 align:start position:0% these yourself because it's not worth 00:07:19.039 --> 00:07:21.350 align:start position:0% these yourself because it's not worth the<00:07:19.199><c> hassle</c><00:07:19.759><c> and</c><00:07:20.000><c> it's</c><00:07:20.240><c> not</c><00:07:20.479><c> worth</c><00:07:20.639><c> the</c><00:07:20.880><c> stress</c> 00:07:21.350 --> 00:07:21.360 align:start position:0% the hassle and it's not worth the stress 00:07:21.360 --> 00:07:22.950 align:start position:0% the hassle and it's not worth the stress if<00:07:21.599><c> you</c><00:07:21.759><c> miss</c><00:07:21.919><c> a</c><00:07:22.080><c> deadline.</c><00:07:22.130><c> [music]</c> 00:07:22.950 --> 00:07:22.960 align:start position:0% if you miss a deadline. [music] 00:07:22.960 --> 00:07:25.350 align:start position:0% if you miss a deadline. [music] The<00:07:23.199><c> next</c><00:07:23.599><c> mistake</c><00:07:24.080><c> is</c><00:07:24.479><c> forgetting</c><00:07:24.960><c> that</c><00:07:25.199><c> you</c> 00:07:25.350 --> 00:07:25.360 align:start position:0% The next mistake is forgetting that you 00:07:25.360 --> 00:07:27.670 align:start position:0% The next mistake is forgetting that you also<00:07:25.680><c> have</c><00:07:25.840><c> income</c><00:07:26.240><c> tax</c><00:07:26.479><c> requirements.</c><00:07:27.440><c> This</c> 00:07:27.670 --> 00:07:27.680 align:start position:0% also have income tax requirements. This 00:07:27.680 --> 00:07:29.325 align:start position:0% also have income tax requirements. This whole<00:07:27.919><c> video</c><00:07:28.160><c> is</c><00:07:28.400><c> has</c><00:07:28.560><c> been</c><00:07:28.800><c> about</c><00:07:29.280><c> sales</c> 00:07:29.325 --> 00:07:29.335 align:start position:0% whole video is has been about sales 00:07:29.335 --> 00:07:31.589 align:start position:0% whole video is has been about sales [music]<00:07:29.680><c> tax,</c><00:07:30.240><c> but</c><00:07:30.479><c> you</c><00:07:30.720><c> also</c><00:07:30.960><c> have</c><00:07:31.199><c> income</c> 00:07:31.589 --> 00:07:31.599 align:start position:0% [music] tax, but you also have income 00:07:31.599 --> 00:07:33.589 align:start position:0% [music] tax, but you also have income tax<00:07:31.840><c> requirements</c><00:07:32.720><c> both</c><00:07:32.960><c> to</c><00:07:33.120><c> the</c><00:07:33.280><c> federal</c> 00:07:33.589 --> 00:07:33.599 align:start position:0% tax requirements both to the federal 00:07:33.599 --> 00:07:35.589 align:start position:0% tax requirements both to the federal government<00:07:33.840><c> in</c><00:07:34.000><c> the</c><00:07:34.160><c> United</c><00:07:34.400><c> States</c><00:07:34.800><c> and</c><00:07:35.120><c> to</c> 00:07:35.589 --> 00:07:35.599 align:start position:0% government in the United States and to 00:07:35.599 --> 00:07:37.589 align:start position:0% government in the United States and to state<00:07:35.919><c> governments.</c><00:07:36.800><c> For</c><00:07:36.960><c> this,</c><00:07:37.199><c> I</c><00:07:37.440><c> have</c> 00:07:37.589 --> 00:07:37.599 align:start position:0% state governments. For this, I have 00:07:37.599 --> 00:07:39.510 align:start position:0% state governments. For this, I have separate<00:07:37.919><c> videos.</c><00:07:38.400><c> I</c><00:07:38.720><c> talk</c><00:07:38.880><c> about</c><00:07:39.120><c> all</c><00:07:39.360><c> of</c> 00:07:39.510 --> 00:07:39.520 align:start position:0% separate videos. I talk about all of 00:07:39.520 --> 00:07:41.510 align:start position:0% separate videos. I talk about all of that<00:07:40.240><c> and</c><00:07:40.560><c> obviously</c><00:07:40.880><c> you</c><00:07:41.120><c> can</c><00:07:41.199><c> check</c><00:07:41.360><c> them</c> 00:07:41.510 --> 00:07:41.520 align:start position:0% that and obviously you can check them 00:07:41.520 --> 00:07:43.670 align:start position:0% that and obviously you can check them out<00:07:41.759><c> here</c><00:07:42.319><c> or</c><00:07:42.639><c> my</c><00:07:42.800><c> team</c><00:07:42.960><c> would</c><00:07:43.120><c> put</c><00:07:43.280><c> it</c><00:07:43.360><c> at</c><00:07:43.520><c> the</c> 00:07:43.670 --> 00:07:43.680 align:start position:0% out here or my team would put it at the 00:07:43.680 --> 00:07:46.070 align:start position:0% out here or my team would put it at the end<00:07:43.840><c> of</c><00:07:44.000><c> the</c><00:07:44.240><c> video</c><00:07:45.280><c> if</c><00:07:45.520><c> you</c><00:07:45.680><c> if</c><00:07:45.919><c> that's</c> 00:07:46.070 --> 00:07:46.080 align:start position:0% end of the video if you if that's 00:07:46.080 --> 00:07:47.830 align:start position:0% end of the video if you if that's something<00:07:46.240><c> you</c><00:07:46.560><c> want</c><00:07:46.800><c> to</c><00:07:46.960><c> speak</c><00:07:47.199><c> to</c><00:07:47.360><c> us</c><00:07:47.520><c> more</c> 00:07:47.830 --> 00:07:47.840 align:start position:0% something you want to speak to us more 00:07:47.840 --> 00:07:50.230 align:start position:0% something you want to speak to us more deeply<00:07:48.160><c> about.</c><00:07:48.800><c> We're</c><00:07:49.120><c> crossber</c><00:07:49.599><c> tax</c><00:07:49.840><c> firm</c> 00:07:50.230 --> 00:07:50.240 align:start position:0% deeply about. We're crossber tax firm 00:07:50.240 --> 00:07:52.070 align:start position:0% deeply about. We're crossber tax firm that<00:07:50.479><c> help</c><00:07:50.950><c> [music]</c><00:07:51.039><c> you</c><00:07:51.360><c> Canadians</c><00:07:51.840><c> with</c> 00:07:52.070 --> 00:07:52.080 align:start position:0% that help [music] you Canadians with 00:07:52.080 --> 00:07:54.070 align:start position:0% that help [music] you Canadians with their<00:07:52.240><c> US</c><00:07:52.560><c> tax</c><00:07:52.800><c> obligations</c><00:07:53.520><c> and</c><00:07:53.840><c> their</c> 00:07:54.070 --> 00:07:54.080 align:start position:0% their US tax obligations and their 00:07:54.080 --> 00:07:56.070 align:start position:0% their US tax obligations and their Canadian<00:07:54.479><c> tax</c><00:07:54.639><c> obligations.</c><00:07:55.599><c> Just</c><00:07:55.759><c> head</c><00:07:55.919><c> to</c> 00:07:56.070 --> 00:07:56.080 align:start position:0% Canadian tax obligations. Just head to 00:07:56.080 --> 00:07:58.070 align:start position:0% Canadian tax obligations. Just head to salaccounting.ca<00:07:57.280><c> where</c><00:07:57.520><c> my</c><00:07:57.680><c> team</c><00:07:57.840><c> would</c> 00:07:58.070 --> 00:07:58.080 align:start position:0% salaccounting.ca where my team would 00:07:58.080 --> 00:07:59.749 align:start position:0% salaccounting.ca where my team would love<00:07:58.240><c> to</c><00:07:58.319><c> help</c><00:07:58.479><c> you</c><00:07:58.639><c> out.</c><00:07:58.960><c> The</c><00:07:59.199><c> last</c><00:07:59.360><c> mistake</c> 00:07:59.749 --> 00:07:59.759 align:start position:0% love to help you out. The last mistake 00:07:59.759 --> 00:08:01.350 align:start position:0% love to help you out. The last mistake is<00:08:00.080><c> forgetting</c><00:08:00.479><c> to</c><00:08:00.639><c> subscribe</c><00:08:00.960><c> to</c><00:08:01.120><c> this</c> 00:08:01.350 --> 00:08:01.360 align:start position:0% is forgetting to subscribe to this 00:08:01.360 --> 00:08:02.950 align:start position:0% is forgetting to subscribe to this channel<00:08:01.599><c> which</c><00:08:01.840><c> is</c><00:08:02.000><c> going</c><00:08:02.080><c> to</c><00:08:02.160><c> keep</c><00:08:02.319><c> you</c><00:08:02.560><c> safe</c> 00:08:02.950 --> 00:08:02.960 align:start position:0% channel which is going to keep you safe 00:08:02.960 --> 00:08:05.749 align:start position:0% channel which is going to keep you safe from<00:08:03.199><c> tax</c><00:08:03.520><c> surprises.</c><00:08:04.479><c> That's</c><00:08:04.720><c> it.</c><00:08:05.520><c> See</c><00:08:05.680><c> you</c> 00:08:05.749 --> 00:08:05.759 align:start position:0% from tax surprises. That's it. See you 00:08:05.759 --> 00:08:09.280 align:start position:0% from tax surprises. That's it. See you in<00:08:05.919><c> the</c><00:08:06.000><c> next</c><00:08:06.080><c> one</c><00:08:06.319><c> guys.</c> 00:08:09.280 --> 00:08:09.290 align:start position:0% 00:08:09.290 --> 00:08:11.310 align:start position:0% >> [music]