A LITTLE MORE THAN A YEAR AGO, the Supreme Court, in the closely divided South Dakota v. Wayfair decision, ruled states can require most online retailers and many other sellers to collect sales tax, upending more than two decades of legal precedent. The decision affects businesses such as software vendors, equipment retailers, information sellers and any other business selling goods or services subject to sales tax. In other words, it reaches just about everyone. Whether you own a business or are a consumer, it impacts you in some manner. You may pay more now for the item purchased or, as a business owner, you are saddled with much more compliance work, needing to file various tax returns in additional states.
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AS WE APPROACH the last quarter of the calendar year, it is a good time to look back at your 2019 financial goals to see if you are on target. Have you saved as much as you wanted? Have you paid down some debt? Remember, if you pay more than the minimum amount due, you not only pay off your debt earlier than scheduled but also save on interest fees.