If you’re operating an online business, odds are you’re acquainted with the tasks and responsibilities that burden small business owners worldwide. In a 2014 survey conducted by GoDaddy.com, 40% of 600 small business owners considered taxes the most unpleasant aspect of owning a small business.
Indeed, sales tax can be a real nightmare – a source of countless headaches that only worsens as your online enterprise expands. For merchants offering hundreds of products and services across multiple jurisdictions, sales tax is a tiresome, tedious affair. With rates and rules changing every year for thousands of jurisdictions, taxes are an ongoing burden that requires unfaltering diligence and extreme attention to detail.
Just take a look at Araphahoe County, Colorado as prime example of just how complex sales tax can be:
- Colorado (State Tax) – 2.9%
- Arapahoe (County Tax) – .25%
- Aurora (City Tax) – 3.75%
- Scientific & Cultural Facility (Special Tax) - .10%
- RTD Greater Denver (Special Tax) – 1%
Monitoring such rates and rules is a downright chore, resulting in many eCommerce businesses failing to ensure accuracy in rates and taxability. Luckily, there are services available that can alleviate the stress and workload associated with sales tax. And with all the other responsibilities that online merchants deal with on a day-to-day basis, why not scrape a little off your plate in favor of some peace of mind?
With a full-service tax solution, you’ll benefit from the following services:
- Process orders with automated, real-time tax calculation
- Always up-to-date tax tracking in thousands of jurisdictions
- The collecting, filing and remittance processes
- And the managing of all your exemption and reseller documents
Doing your taxes by hand means mistakes are bound to happen. And for the average business, an audit can cost tens of thousands in unpaid tax, penalties and interest. With the capabilities and services offered by full-service tax companies, an automated tax service is not only an efficient solution to meeting tax requirements, but a real money saver.
40% of small businesses take more than 6 hours to complete their tax returns, with countless operations relying on an accountant to collect, report and remit sales tax. By using a fully-automated solution, you’ll be able to better manage your taxes at a fraction of the cost by minimizing human intervention.
Managing your taxes doesn’t have to be a burden. Look into an affordable, automated solution so that you can focus your time and energy where it’s needed most – on improving your business.
Automated tax solutions such as Avalara are available as low as $14/month. Click here for more information.