As if we didn't have enough taxes to keep up with!
Yep, Use Tax is a little-known tax that many small businesses need to put on their radar. Most states and some city governments are putting plans in place to “cracking down” on unpaid Use Tax, and they are starting by hitting businesses hard.
In this week's video lesson you'll not only learn about what Use Tax is, but how to protect yourself from getting a nasty back tax bill that could even include penalties and/or an audit.
The old saying fits here: Fore warned is fore armed.
Do you do business on the Internet? If so, you are also a target for Use Tax. The state governments are even working together as you read this to find a way to capture the lost revenue from Internet sales. So keep an eye on your state's tax laws during the coming year.
Share your thoughts, questions, comments, experience (outrage), or tips below on the topic of Use Tax.
I'm always glad to hear from you….even if it is to grumble. 😉