In this episode of The Millionaire’s Lawyer, JP, Jason Parr, and Paul Johnson discuss:
Jason and Paul mention how things have greatly changed in the Tax world over the last few years.
E-Commerce has made a great impact on how the government and states are looking at taxing businesses.
In 2018 there was a Taxation case in the Supreme Courts in regards to where corporations are required to be registered and compliant
Jason and Paul state how important it is to have confidence regarding your taxation and make sure you have all jurisdictions covered in which you may be collecting tax.
Collaboration builds confidence, outsource what you are not an expert in
“What’s Next?” Call
Each state taxes differently, Jason provides the example of Supplements
Jason and Paul mention that there is software out there to help track
There are Monthly and Quarterly remittances
Make sure you are set up now for when you need to get there, prepare for the growth ahead of time.
Manage where you are and set up the automation for that, and then when you expand add that into the automated system.
Both Jason and Paul feel like the Government is going to become a little bit more aggressive in regards to the corporations that are not compliant, and even those who are yet to be registered in the correct jurisdiction.
Remain consistent in your Core Values
It is hard to successfully multi-task, slow down and become really good at one thing.
From this episode of The Millionaires Lawyer with Jason Parr and Paul Johnson:
If this is a situation that you are dealing with don't hesitate let's chat! Schedule your What's Next Call here: https://peisnerjohnson.com/whats-next/