To ensure more accurate handling of shipping cost sales tax, small businesses can leverage automation tools like Avalara Managed Returns. Automation can help you make sure you’re filing returns more accurately and on time. When it comes to sales tax on shipping costs, each individual state has its own requirements and the more states you […]

So, the gross sales of TechXYZ for that quarter is $2,000,000 before considering business expenses, deductions, discounts, returns, and allowances. The gross sales figure is calculated by adding all sales receipts before discounts, returns, and allowances together. Taxable income is a portion of net income and refers to the amount of income subject to tax, […]