How to Navigate Sales Tax on Digital Products as a CEO Teacher® with Katherine Tucker

The CEO Teacher Podcast

Kayse Morris

Marketing, Edupreneurs, Teachers, Entrepreneur, Teacherspayteachers, Business, Teacher, Educator

5 • 734 Ratings

🗓️ 30 November 2022

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

What you need to know about sales tax on digital products

I am so excited to be talking about today's topic – sales tax on digital products – although I'm most excited for my guest to take the lead because, frankly, sales tax compliance scares me. As a former English teacher, I am scared to death of bookkeeping, sales tax compliance for teachers pay teachers, and sales tax on digital products in general. Nonetheless, I know one thing to be true: sales tax compliance is very important. Plus, sales tax compliance is the number one question that we're asked in our communities. We used to run away from sales tax on digital product questions. Today, we're no longer running. Instead, we’re running the question to my guest, Katherine Tucker.

Your guide to sales tax on digital products

My guest today, Katherine P. Tucker, CPA, is a spunky accountant who helps TpT sellers with two important pieces of their business: bookkeeping and sales tax. So what is tax compliance? Well, as Katherine explains it, sales tax compliance is the first step to understanding the financial state of your CEO Teacher® business. She also believes that teachers should know how to pay teachers pay teachers sales tax and sales tax on digital products. Since April 2021 Katherine has been working with TpT sellers and is the creator of the online, self-paced course, “The Teacherpreneur’s Sales Tax Roadmap.” She is a Certified Public Accountant (CPA) with bachelor’s and master’s degrees in Accounting. And while sales tax is a topic that a LOT of people would like to run from, she’s here to let you know that it's not as scary as it seems. So if you’re ready to take your business to sustainable heights, Katherine’s about to break down sales tax on digital products to their most basic level. Listen now!

In this episode, you will learn:

What is tax compliance
How sales tax on digital products is determined
What first steps you need to take in order to be sales tax compliant
Where to find sales tax compliance services
How to prepare your teachers pay teachers taxes
And so much more!

LINKS MENTIONED IN THIS EPISODE ABOUT SALES TAX ON DIGITAL PRODUCTS:

CEO TEACHER® RESOURCES WORTH THEIR WEIGHT IN GOLD:

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Transcript

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0:00.0	So I would say from day one, what you want to do is go ahead and look at the state where you are
0:06.4	running and operating your business, so where you live and work and figure out if that state
0:11.1	makes you collect sales tax on sales.
0:13.3	I live in South Carolina and currently they don't tax digital goods.
0:17.2	If I'm selling a course, I don't have to tax my South Carolina customers.
0:20.1	Whereas my colleague or friend in North Carolina, but North Carolina does tax digital goods.
0:25.5	So from day one, she would want to start collecting sales tax.
0:29.3	Hey friend, I'm Casey Morris, former full-time English teacher turned online business CEO, dedicated to helping teachers like you, unlock more freedom simply by using
0:39.8	skills you already have. I started selling my teaching resources online just to pay my Netflix
0:45.6	bill. I had no time, no past experience, no impressive tech skills. Heck, I didn't even have a credit
0:52.2	card that wasn't maxed out. Fast forward to a few
0:55.2	years later and hello, seven-figure business and thousands of lives transformed. Now I get to work
1:01.5	on a 1908 farmhouse for fun, crank the Grateful Dead tunes whenever I want, and hang out with my
1:07.6	family while still doing what I love, and you can do the same.
1:12.3	I'm here to help you skip the painful learning curve, focus on what matters most,
1:16.6	and own your unique ability to teach, lead, and lend a helping hand without capping your income
1:23.7	or your ability to impact the lives of students, parents, and other teachers.
1:29.3	Ready to get started? The CEO Teacher podcast is your shortcut to simplified strategies,
1:34.8	inspiring stories, and mindset shifts that'll help you reach your big goals and build your
1:40.5	own life-changing teacher business. We believe here that the best is yet to come.
1:47.0	So let's dive in.
1:51.1	Hello, CEO teachers. Welcome back to the show. We are so happy to have you here. And I would
	...

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