Get Control of Your F.A.T. (Finance, Accounting & Tax) in Your Lean Startup
Are you trying to save money in all the wrong places? You, the successful entrepreneur know that financial savvy, expertise and discipline are the key tools in creating a successful business. Even if this is not your “core competency”, the successful executive will know how to uncover the “unknown unknowns” and build a team of experts to complement his/her skill set. A scalable startup is by definition fast growing; it’s important, therefore, to select specialists in the areas of *F.A.T. (Finance, Accounting and Tax) who have the bandwidth and subject matter expertise.
Our series will teach the essential tools needed to operate a startup business. The classes are designed to help identify what you should know to stay focused on building your business.
SESSION 2: SALES/USE TAXATION FOR 21ST CENTURY COMMERCE
Entrepreneurs will learn about the basics of sales tax nexus (i.e., taxable presence), taxability of commonly sold property and certain services rendered and “traps for the unwary” seller and buyer. Topics covered include sales tax on the “modern day” sale of computer software, cloud computing, information services; who must register as a vendor; adequate record retention; responsible persons’ liability for sales tax and ways to minimize any sales/use tax problems.
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