1 00:00:00,120 --> 00:00:02,280 Today on the Winning with Shopify podcast. 2 00:00:02,640 --> 00:00:05,520 Take that burden off of you so you can have some Peace of Mind 3 00:00:05,520 --> 00:00:07,600 and sleep better at night. Hey, we've made a fantastic 4 00:00:07,600 --> 00:00:10,080 profit. And then some smart guy turns 5 00:00:10,080 --> 00:00:12,040 around and says, like, ah, you've made a big loss, actually 6 00:00:12,040 --> 00:00:15,440 didn't pay your taxes yet. Shopify tax is really strong at 7 00:00:15,440 --> 00:00:17,080 checkout. I would say I don't mind paying 8 00:00:17,080 --> 00:00:19,000 a bit more if it makes things easy and simple. 9 00:00:19,200 --> 00:00:21,880 They end up paying sales tax to their supplier, they end up 10 00:00:21,960 --> 00:00:24,600 maybe not charging it to their customer, and you can end up in 11 00:00:24,600 --> 00:00:27,960 a lot of just a mess there. I think I've paid nearly $10.00 12 00:00:27,960 --> 00:00:30,920 for a coffee and when I told an American friend of mine out 13 00:00:30,920 --> 00:00:33,000 there they said $10. Where did you get that from? 14 00:00:33,000 --> 00:00:35,600 That sounds really really cheap. I was like, are you crazy? 15 00:00:40,760 --> 00:00:43,080 Hello and welcome to another episode of the winning Shopify 16 00:00:43,080 --> 00:00:44,320 Podcast. If it's your first time tuning 17 00:00:44,320 --> 00:00:46,040 in, welcome to the show. Hit the subscribe button, leave 18 00:00:46,040 --> 00:00:48,640 us a review, and please be honest, but also be nice. 19 00:00:48,640 --> 00:00:50,400 I think it's always something I should say back to that. 20 00:00:50,560 --> 00:00:52,360 If you've been tuning in for a while, welcome back. 21 00:00:52,360 --> 00:00:54,640 Today we have a very, very exciting topic. 22 00:00:54,880 --> 00:00:58,160 We are going to be talking about tax and the financials, which in 23 00:00:58,160 --> 00:01:00,480 my experience is one of the biggest reasons businesses start 24 00:01:00,480 --> 00:01:02,520 to struggle is they haven't done their sums. 25 00:01:02,840 --> 00:01:04,599 So we're going to be talking today about a piece of software 26 00:01:04,599 --> 00:01:06,600 called Tax Cloud. And I have an amazing guest with 27 00:01:06,600 --> 00:01:08,400 me, his name is Ryan from Tax Cloud. 28 00:01:08,400 --> 00:01:10,440 So Ryan, without further ado, welcome to the show. 29 00:01:10,440 --> 00:01:12,120 How are you? Hey, Nick. 30 00:01:12,160 --> 00:01:14,720 Yeah, great to be here. Really excited to talk about the 31 00:01:15,160 --> 00:01:19,360 exciting topic of sales tax. Well, I, I was joking with Ryan 32 00:01:19,360 --> 00:01:21,760 before we hit record as well. And you, you joke about it being 33 00:01:21,760 --> 00:01:24,400 the exciting topic. This is one of the, to add a bit 34 00:01:24,400 --> 00:01:26,800 of fear factor as to why you guys should stay tuned to this. 35 00:01:27,280 --> 00:01:29,720 This is one of the biggest reasons businesses go under. 36 00:01:29,720 --> 00:01:31,280 They don't do their sums properly. 37 00:01:31,280 --> 00:01:33,160 You get to the end of the year and you think, hey, we've made a 38 00:01:33,160 --> 00:01:36,080 fantastic profit. And then some smart guy turns 39 00:01:36,080 --> 00:01:37,880 around and says, like, ah, you've made a big loss actually, 40 00:01:37,880 --> 00:01:38,840 because you don't pay your taxes. 41 00:01:38,880 --> 00:01:42,240 Yeah, I had that nearly 20 years ago in business and I got my 42 00:01:42,240 --> 00:01:45,840 first VAT, my first sales tax, as you guys in the US call it. 43 00:01:46,080 --> 00:01:48,800 But for people who are like, right, Tax Cloud, are you a 44 00:01:48,800 --> 00:01:50,520 bunch of accountants? And is this going to be the 45 00:01:50,520 --> 00:01:52,400 worst episode ever? No, you're not. 46 00:01:52,400 --> 00:01:55,080 But Ryan, tell us a little bit about what Tax Cloud is and why 47 00:01:55,080 --> 00:01:57,520 you guys have decided to sponsor and partner with us here at 48 00:01:57,520 --> 00:01:59,520 Winning the Shopify. Yeah, yeah. 49 00:01:59,520 --> 00:02:03,600 So, so tax cloud, we're sales tax automation platform. 50 00:02:04,040 --> 00:02:09,199 We work with like to say with growing e-commerce brands, a 51 00:02:09,280 --> 00:02:12,080 large part of our customer base is on Shopify, although we do 52 00:02:12,080 --> 00:02:16,520 support across all e-commerce platforms and we're really here 53 00:02:16,520 --> 00:02:21,320 to make sales tax easy for for business owners and founders who 54 00:02:21,560 --> 00:02:23,920 really don't want to be dealing with sales tax. 55 00:02:23,920 --> 00:02:26,840 We take that burden off of you so you can have some Peace of 56 00:02:26,840 --> 00:02:30,240 Mind and sleep better at night. My background, I've been working 57 00:02:30,240 --> 00:02:33,800 in e-commerce for a while. Prior Prior to joining Tax 58 00:02:33,800 --> 00:02:35,960 Collider, I was at a company called Privy, which I helped run 59 00:02:35,960 --> 00:02:39,520 for about 5 years. And so I'm very well attuned to 60 00:02:39,520 --> 00:02:43,840 the challenges and all that goes into running a Shopify business. 61 00:02:43,840 --> 00:02:48,120 And yeah, excited to talk about my my new discovered passion 62 00:02:48,120 --> 00:02:50,520 here on sales tax. Amazing. 63 00:02:50,520 --> 00:02:52,280 And for anyone who's like Privy, what's that? 64 00:02:52,480 --> 00:02:54,040 We had you guys on the show before as well. 65 00:02:54,040 --> 00:02:55,680 So I don't think it's self was on Ryan. 66 00:02:55,680 --> 00:02:58,040 I think it was somebody else from Privy, but apologies if 67 00:02:58,040 --> 00:02:59,720 I've got that wrong. But we had Privy on the show 68 00:02:59,720 --> 00:03:02,320 before, which is what obviously has led to your new appointment 69 00:03:02,320 --> 00:03:05,080 and a couple of other people in the team as well at Text Clouds. 70 00:03:05,480 --> 00:03:09,160 And I should say as well, guys, that Tax Cloud do have an offer 71 00:03:09,160 --> 00:03:10,520 for you guys as one of our sponsors. 72 00:03:10,800 --> 00:03:13,760 And if you head over Tax cloud.com/winning, if you like 73 00:03:13,760 --> 00:03:15,760 what Ryan's got to share today and you think, you know what, 74 00:03:15,760 --> 00:03:17,800 this is a nightmare and it can make it so much easier for me. 75 00:03:18,120 --> 00:03:20,440 Just as Ryan said, yeah, head over to taxcloud.com on forward 76 00:03:20,440 --> 00:03:22,120 slash winning. You get a free on boarding 77 00:03:22,120 --> 00:03:24,760 session and probably a bit of VIP treatment as well as one of 78 00:03:24,760 --> 00:03:27,760 our listeners. But obviously, I mean sales tax 79 00:03:27,800 --> 00:03:29,960 as APC guy, I've spent so much time dealing with it. 80 00:03:29,960 --> 00:03:32,040 Google Merchant Centre needs to know all the different taxes 81 00:03:32,440 --> 00:03:34,720 trying to get it right. And then Google goes, no, when I 82 00:03:34,720 --> 00:03:37,200 had this product to cart and I get into check out it's, you 83 00:03:37,200 --> 00:03:39,480 know, like it's different and the tax isn't the same as what 84 00:03:39,480 --> 00:03:40,920 you've told me. So I'm going to disapprove all 85 00:03:41,120 --> 00:03:43,000 your ads. It's something that's always 86 00:03:43,000 --> 00:03:47,240 affected the the work that we do, especially again, so it does 87 00:03:47,240 --> 00:03:49,560 relate some of the fun stuff. What's the first thing Shopify 88 00:03:49,560 --> 00:03:52,400 store owners should really be thinking about cleaning up in 89 00:03:52,400 --> 00:03:54,680 their Shopify stores when it comes to sales tax, especially 90 00:03:54,680 --> 00:03:57,680 across certainly across the US? Yeah, Yeah. 91 00:03:57,880 --> 00:04:00,880 I think the the biggest thing I always tell people to start out 92 00:04:00,880 --> 00:04:04,880 is just first understanding where you actually have what's 93 00:04:04,880 --> 00:04:09,800 called in the US Nexus. So, so tax Cloud, we primarily 94 00:04:09,800 --> 00:04:12,080 service businesses that are based in the US, So I'll give 95 00:04:12,080 --> 00:04:15,040 that perspective. But I think this is applicable 96 00:04:15,040 --> 00:04:16,800 to wherever you're selling today. 97 00:04:17,680 --> 00:04:20,680 And in the US in particular, we actually have the challenge 98 00:04:20,680 --> 00:04:24,840 where every state across the country has their own tax laws, 99 00:04:24,840 --> 00:04:28,280 their own tax rules, and different requirements that tell 100 00:04:28,280 --> 00:04:31,320 you whether or not you actually have tax obligation in that 101 00:04:31,320 --> 00:04:33,800 state. And so this whole idea of 102 00:04:33,800 --> 00:04:37,200 understanding where you actually have met the threshold in that 103 00:04:37,200 --> 00:04:39,480 state is your first starting point. 104 00:04:39,960 --> 00:04:41,920 There's an important consideration when it comes to 105 00:04:41,920 --> 00:04:44,040 Nexus. There's this idea of physical 106 00:04:44,040 --> 00:04:47,720 Nexus, and there's an idea of economic Nexus. 107 00:04:48,080 --> 00:04:51,640 When you're talking about physical, as you may expect, 108 00:04:51,640 --> 00:04:55,800 it's based on where you're actually physically located, but 109 00:04:55,800 --> 00:04:59,000 it's not always that simple. If you happen to have employees 110 00:04:59,000 --> 00:05:02,600 in different states or different areas, that can also trigger 111 00:05:02,600 --> 00:05:06,640 physical Nexus in that state. Or if you have a warehouse where 112 00:05:06,640 --> 00:05:09,000 you're storing product, depending on the state that 113 00:05:09,000 --> 00:05:11,680 could also trigger physical Nexus as well. 114 00:05:11,680 --> 00:05:13,680 So that's there's a lot to think about there. 115 00:05:13,680 --> 00:05:15,920 And so you start with physical understanding that. 116 00:05:15,920 --> 00:05:19,360 And typically if you're a small and you're just starting out, 117 00:05:19,400 --> 00:05:21,160 you'll know the taxes in your state. 118 00:05:21,160 --> 00:05:22,400 That's where you have physical Nexus. 119 00:05:22,400 --> 00:05:24,520 So get registered and start collecting there. 120 00:05:24,960 --> 00:05:29,000 The other is the economic. Typically it's based on number 121 00:05:29,000 --> 00:05:32,000 of transactions or total revenue. 122 00:05:32,320 --> 00:05:36,080 And that will give you a sense of where you're at today, not to 123 00:05:36,240 --> 00:05:38,600 pitch tax cloud too early in the conversation here. 124 00:05:38,600 --> 00:05:41,720 So whether you use Tax Cloud or any any other tool, generally 125 00:05:41,720 --> 00:05:45,120 any sales tax solution is going to offer a free plan where you 126 00:05:45,120 --> 00:05:49,080 can connect your Shopify store and get a very quick view of 127 00:05:49,080 --> 00:05:52,600 your economic Nexus. So we always recommend starting 128 00:05:52,600 --> 00:05:55,000 there. Again, tax law is great for it, 129 00:05:55,000 --> 00:05:56,560 but there's other tools you can use as well. 130 00:05:56,800 --> 00:05:59,120 Connector store, get your orders in there and we'll tell you 131 00:05:59,120 --> 00:06:04,000 where you have Nexus today. I can also speak to the one 132 00:06:04,000 --> 00:06:08,480 other thing I could talk to is the fact that some orders you 133 00:06:08,480 --> 00:06:13,000 deal with some exemptions. The if, if you're selling 134 00:06:13,000 --> 00:06:14,840 different products, a lot of people don't know that certain 135 00:06:14,840 --> 00:06:16,560 products are taxable and certain aren't. 136 00:06:17,280 --> 00:06:20,080 This is where it starts to get really tricky as well. 137 00:06:21,080 --> 00:06:23,080 So that's another thing to think about as well. 138 00:06:23,080 --> 00:06:25,960 But where you have Nexus also depending on the sort of 139 00:06:25,960 --> 00:06:29,320 products you sell, do you actually have to collect taxes 140 00:06:29,320 --> 00:06:31,840 on those products? And there's a lot of interesting 141 00:06:32,080 --> 00:06:34,440 rules that you'll have to think about when it comes to certain 142 00:06:34,440 --> 00:06:36,160 product lines. Yeah, yeah. 143 00:06:36,200 --> 00:06:39,040 Now you've just bought back a tiny bit of PTSD in my head of 144 00:06:39,040 --> 00:06:42,600 when I was in San Francisco and I went into a cafe and compared 145 00:06:42,600 --> 00:06:46,840 to the coffee price in the US, compared to the UKI went in and 146 00:06:46,840 --> 00:06:48,920 thought that's quite an expensive coffee price. 147 00:06:48,920 --> 00:06:51,480 And they had a coffee called the Gibraltar Coffee. 148 00:06:51,920 --> 00:06:55,560 I thought, oh great, this little English town in Spain, which is 149 00:06:55,560 --> 00:06:59,320 English, UK British, sorry, in the UK from the UK. 150 00:06:59,320 --> 00:07:02,320 So I went in and ordered that and I had a minor heart attack 151 00:07:02,320 --> 00:07:05,200 going, oh, it's only like half a dollar or a dollar more 152 00:07:05,200 --> 00:07:07,240 expensive than the UK. It's a bit pricey. 153 00:07:07,240 --> 00:07:09,480 And then they added the state tax, the federal tax. 154 00:07:09,840 --> 00:07:12,000 And then this little lady at the till was looking at me with a 155 00:07:12,000 --> 00:07:13,720 big smile. And I looked down at the screen 156 00:07:13,720 --> 00:07:16,240 on the till and it said like what tip would you like to give 157 00:07:16,240 --> 00:07:18,840 and look? And it just a minor heart attack 158 00:07:18,840 --> 00:07:21,040 of thinking I've paid nearly $10.00 for a coffee. 159 00:07:21,440 --> 00:07:24,960 And when I told an American friend of mine out there, they 160 00:07:24,960 --> 00:07:27,200 said $10. Where'd you get that from? 161 00:07:27,200 --> 00:07:28,640 That sounds really, really cheap. 162 00:07:28,640 --> 00:07:32,080 I was like, are you crazy? Like, like even with the pound 163 00:07:32,080 --> 00:07:33,640 to dollar ratio as it was back then. 164 00:07:33,640 --> 00:07:36,720 So I think my, my point being, which I think is a really good 165 00:07:36,720 --> 00:07:39,400 reason that you should, you guys should definitely investigate 166 00:07:39,400 --> 00:07:42,520 something like tax cloud rather than which is the next note on 167 00:07:42,520 --> 00:07:45,280 my list Doing it manually is I think you've just described 168 00:07:45,280 --> 00:07:47,680 really well, Ryan, and done it in a really very actually quite 169 00:07:47,680 --> 00:07:50,960 simple kind of broken down way of like it's really flipping 170 00:07:50,960 --> 00:07:53,720 complicated. Our partners at Saguna have 171 00:07:53,720 --> 00:07:56,960 released a brand new app for Shopify and it's called Shopify 172 00:07:56,960 --> 00:07:59,680 Connect 4 Canva. You can essentially look at all 173 00:07:59,680 --> 00:08:02,720 of your product images from Shopify directly in Canva and 174 00:08:02,720 --> 00:08:06,000 export them straight back. This can save you a lot of time. 175 00:08:06,000 --> 00:08:08,280 If you want to find out a bit more about this or go and find 176 00:08:08,280 --> 00:08:11,880 the app yourself, you can go to saguna.com/canva. 177 00:08:12,120 --> 00:08:15,520 Enjoy and I think I, I joked earlier about my first VAT 178 00:08:15,560 --> 00:08:18,520 return in my business. It, it really scared me because 179 00:08:18,600 --> 00:08:20,560 it was like, I don't, I haven't even looked at VAT. 180 00:08:20,560 --> 00:08:23,080 I've, I've been focused on how do I get enough revenue through 181 00:08:23,080 --> 00:08:26,720 the door that I can survive at night and buy food and, you 182 00:08:26,720 --> 00:08:28,880 know, have a roof over my head and this kind of thing which we 183 00:08:28,920 --> 00:08:30,440 all go through and we set up a business. 184 00:08:30,840 --> 00:08:33,919 So actually getting the tax wrong is like just seems like 185 00:08:33,919 --> 00:08:37,159 one of the most awful byproducts that you could end up going, 186 00:08:37,159 --> 00:08:38,280 right. We've just broken even, but 187 00:08:38,280 --> 00:08:40,120 actually we've made a loss, like I say, because of the tax. 188 00:08:40,159 --> 00:08:43,159 So it's so it's so important, isn't it, to get a system that 189 00:08:43,159 --> 00:08:45,160 will make it easy and actually look into some of those things 190 00:08:45,160 --> 00:08:48,560 that you've just explained to us about the Nexus Plus also like 191 00:08:48,560 --> 00:08:51,040 some things are exempt, which if something is exempt and you're 192 00:08:51,040 --> 00:08:53,800 selling it, guys, that's every reason you should know about 193 00:08:53,800 --> 00:08:56,160 that thing for sure. Totally, totally, yeah. 194 00:08:56,160 --> 00:09:00,720 And that's a big one like it, it, it's not always really 195 00:09:00,720 --> 00:09:02,800 simple for for businesses either. 196 00:09:02,800 --> 00:09:06,480 Like we know a lot of Shopify stores might fall into the broad 197 00:09:06,480 --> 00:09:09,200 category of selling clothing, right? 198 00:09:09,240 --> 00:09:12,120 A clothing and apparel, well, well within that. 199 00:09:12,120 --> 00:09:17,120 In some states, if it's athletic clothing or shoe, athletic shoes 200 00:09:17,120 --> 00:09:20,520 where kids might be using it, those could be exempt because 201 00:09:20,520 --> 00:09:24,320 certain states have those or in other states they may not be, 202 00:09:24,320 --> 00:09:26,160 right. Food is another great example. 203 00:09:26,160 --> 00:09:29,520 You mentioned coffee, but there's some states where I 204 00:09:29,520 --> 00:09:33,880 think in California there's a that you have to pay taxes on 205 00:09:33,880 --> 00:09:39,040 candy, whereas in Texas you may not, you know, So it's, it's all 206 00:09:39,040 --> 00:09:42,320 this very intricate stuff that you can think about. 207 00:09:43,040 --> 00:09:45,520 You can kind of manually track that yourself. 208 00:09:45,520 --> 00:09:48,560 But then there are tools like tax code where we use taxability 209 00:09:48,560 --> 00:09:52,640 codes that we kind of have broad taxability codes that we kind of 210 00:09:52,640 --> 00:09:55,760 help map products to. And typically, you know, we can 211 00:09:55,760 --> 00:09:57,600 help handle a lot of that for you. 212 00:09:57,600 --> 00:10:00,280 So basically we're just trying to make sure any of this sort of 213 00:10:00,280 --> 00:10:02,240 stuff that you don't have to think about it, we can just help 214 00:10:02,280 --> 00:10:04,720 on that as well. But as you're starting out, 215 00:10:04,760 --> 00:10:06,520 definitely something to be thinking about. 216 00:10:06,520 --> 00:10:08,880 Do I have exempt products? In addition to understanding 217 00:10:08,880 --> 00:10:11,280 your Nexus for sure. Well, I think I mean, it's such 218 00:10:11,280 --> 00:10:13,680 a valuable tip actually is that certainly as we both say like is 219 00:10:13,680 --> 00:10:16,920 that is that exempt products and in somebody's Shopify store 220 00:10:16,920 --> 00:10:19,440 journey though, if we go right from the start, what's the 221 00:10:19,440 --> 00:10:21,120 point? Do you think people really need 222 00:10:21,120 --> 00:10:24,960 to start factoring like an automation system in as opposed 223 00:10:24,960 --> 00:10:27,360 to doing it like you know, there's no alternative to paying 224 00:10:27,360 --> 00:10:29,840 the tax and registering the tax, but rather than doing it 225 00:10:29,840 --> 00:10:31,960 manually, at what point do you think is a good point to start 226 00:10:31,960 --> 00:10:34,200 getting an automated system in involved? 227 00:10:34,800 --> 00:10:37,600 Yeah, yeah. This isn't an interesting 228 00:10:37,600 --> 00:10:41,760 evolution we've been seeing right now that I actually think 229 00:10:42,520 --> 00:10:44,840 regardless of where you are in your journey, if you're on 230 00:10:44,840 --> 00:10:50,520 Shopify, which I know most of your audience is, you should use 231 00:10:50,520 --> 00:10:55,080 Shopify tax for calculation if you're trying to do calculation 232 00:10:55,080 --> 00:11:00,040 for in some kind of manual way. And by calculation, I mean at 233 00:11:00,040 --> 00:11:05,120 checkout, how do you calculate the actual tax rate today if 234 00:11:05,120 --> 00:11:07,440 you're a business on Shopify? I actually think whether you're 235 00:11:07,440 --> 00:11:11,960 brand new or growing, you can use Shopify tax today. 236 00:11:12,240 --> 00:11:15,360 And Shopify tax is really strong at checkout. 237 00:11:15,600 --> 00:11:17,840 And a lot of businesses, particularly businesses that are 238 00:11:17,840 --> 00:11:22,560 growing who maybe are used to in the Shopify ecosystem where, you 239 00:11:22,560 --> 00:11:26,560 know, the native tools typically can only get you so far on some 240 00:11:26,560 --> 00:11:28,760 functionality and then you'll move to a bigger one. 241 00:11:29,760 --> 00:11:31,640 You know, that's a very common use case for brands. 242 00:11:32,000 --> 00:11:35,440 Actually Shopify tax on the calculation side in particular 243 00:11:35,600 --> 00:11:38,720 is actually really strong and we actually encourage businesses to 244 00:11:38,720 --> 00:11:42,440 do that in the not so distant future. 245 00:11:42,520 --> 00:11:45,880 Shopify tax hadn't hadn't really wasn't as developed and so 246 00:11:45,880 --> 00:11:50,000 brands had to use kind of one of the legacies solutions that are 247 00:11:50,000 --> 00:11:51,560 out there. You know, I won't necessarily 248 00:11:51,880 --> 00:11:54,640 mention competitors by name, but you'd have to go and install 249 00:11:54,640 --> 00:11:58,960 like a pretty pricey app that you would have to do calculation 250 00:11:58,960 --> 00:12:00,760 and everything else. And that just added an 251 00:12:00,760 --> 00:12:02,840 additional cost and really eats into your ROI. 252 00:12:03,040 --> 00:12:07,440 So use Shopify Tax at checkout regardless of where you are in 253 00:12:07,440 --> 00:12:11,560 your journey when it comes to where you need to think about 254 00:12:11,560 --> 00:12:15,080 automation beyond Shopify tax is really when it starts coming to 255 00:12:15,640 --> 00:12:19,480 getting registered and filing your tax in these different 256 00:12:19,480 --> 00:12:21,840 states or regions. And I imagine it would be 257 00:12:21,840 --> 00:12:27,240 applicable outside the US as well where you in the US if 258 00:12:27,240 --> 00:12:30,600 you're have Nexus in maybe one or two states, you can probably 259 00:12:30,600 --> 00:12:33,400 handle that pretty manually. But when you start to scale 260 00:12:33,400 --> 00:12:35,800 beyond these different states, that's where you really want to 261 00:12:35,800 --> 00:12:38,800 have a partner to help automate the filing side. 262 00:12:38,800 --> 00:12:42,920 And So what we see today is the evolution is it used to be you'd 263 00:12:42,920 --> 00:12:46,560 use these legacy, you pay for a legacy app to do all of your 264 00:12:46,560 --> 00:12:48,560 sales tax needs. Today, it's actually much 265 00:12:48,560 --> 00:12:50,520 simpler. You can use Shopify tax for your 266 00:12:50,520 --> 00:12:53,840 calculation and then partner with a tool like Tax Cloud or 267 00:12:53,840 --> 00:12:58,000 one of the more modern sales tax partner tools that will automate 268 00:12:58,200 --> 00:13:02,240 the really nitty gritty work of working with the state to handle 269 00:13:02,240 --> 00:13:05,080 your filings and be a partner on that sort of thing. 270 00:13:05,080 --> 00:13:07,840 And there's a lot we do in the middle to help you track Nexus 271 00:13:07,840 --> 00:13:10,200 and deal with the exemptions and all that as well. 272 00:13:10,520 --> 00:13:13,480 But so that's kind of the evolution we see every business 273 00:13:13,480 --> 00:13:15,040 going. So in Shopify in particular, 274 00:13:15,320 --> 00:13:19,000 like skip the whole manual calculation step, use Shopify 275 00:13:19,000 --> 00:13:21,200 tax. And then as you start to scale, 276 00:13:21,400 --> 00:13:25,000 I think beyond your first one or two states, that's where you 277 00:13:25,000 --> 00:13:27,560 should really look at a tool to help automate on the filing 278 00:13:27,560 --> 00:13:29,520 side. It's pretty affordable and you 279 00:13:29,520 --> 00:13:32,000 can help automate really quickly and give yourself back a lot of 280 00:13:32,000 --> 00:13:34,760 time. I think it's really good advice 281 00:13:34,760 --> 00:13:37,160 and I think the kind of, yeah, doing it first state or to 282 00:13:37,160 --> 00:13:39,760 yourself manually. I, I always like the process, 283 00:13:39,760 --> 00:13:42,160 whatever the tool is, if you've done it manually yourself, you 284 00:13:42,160 --> 00:13:44,240 know what the tool's doing for you, which that means if 285 00:13:44,240 --> 00:13:46,600 something's not going right or you've put the wrong setting in 286 00:13:46,600 --> 00:13:48,600 which, you know, tax cloud's great, but I'm sure it's 287 00:13:48,600 --> 00:13:50,760 breakable. Like, like most things, if you 288 00:13:50,760 --> 00:13:53,560 give it the wrong information or put the wrong thing in the, the 289 00:13:53,560 --> 00:13:55,920 other part of this, I would say, which massively comes back to, 290 00:13:55,920 --> 00:13:58,320 to, to my world as well, is the, as you say, it's that 291 00:13:58,320 --> 00:14:01,040 calculation. So using Shopify taxes to do the 292 00:14:01,040 --> 00:14:03,600 calculations for you, it means that what you're actually 293 00:14:03,600 --> 00:14:06,240 feeding into Google Merchant Centre for Google Ads and, and 294 00:14:06,240 --> 00:14:07,520 which is the Google Shopping channel. 295 00:14:07,760 --> 00:14:10,240 If you guys, if anyone's not used that before on Google 296 00:14:10,240 --> 00:14:13,480 Shopping, you have to report back the tax that's going to be 297 00:14:13,680 --> 00:14:15,920 added. So using Shopify taxes automates 298 00:14:15,920 --> 00:14:18,160 that process. Again, it's totally breakable. 299 00:14:18,800 --> 00:14:20,560 I've actually got a list of names, some of these. 300 00:14:20,920 --> 00:14:23,000 Well, all of these are my clients and you guys know who 301 00:14:23,000 --> 00:14:26,000 you are. Matthew, Susan and Janice, you 302 00:14:26,000 --> 00:14:28,360 guys have all broken the tax in Shopify and you know who you 303 00:14:28,360 --> 00:14:29,320 are. And I thought I finally got an 304 00:14:29,320 --> 00:14:32,360 episode to to shout out your name about this, but that's why 305 00:14:32,360 --> 00:14:35,680 we we ended up doing it manually because there was something 306 00:14:35,680 --> 00:14:37,240 breaking within the automation of it. 307 00:14:37,240 --> 00:14:39,600 So I think have doing it yourself for the first state or 308 00:14:39,600 --> 00:14:42,400 two and then getting a tool to do it for you again. 309 00:14:42,400 --> 00:14:46,600 I totally second that advice. What happens though, I'm going 310 00:14:46,640 --> 00:14:50,040 to throw a few curveballs in. And just FYI, Ryan knew these 311 00:14:50,040 --> 00:14:52,200 were coming beforehand guys, because actually we want to make 312 00:14:52,200 --> 00:14:54,600 sure the information's right because we can't, we should have 313 00:14:54,600 --> 00:14:56,560 said this, that we can't give financial information, but we we 314 00:14:56,560 --> 00:14:58,400 can't provide the tech to help you do filing and stuff. 315 00:14:58,720 --> 00:15:01,520 Some of the curveballs though. Digital products drop shipping 316 00:15:01,520 --> 00:15:05,080 goods, and if you offer free shipping, all these things 317 00:15:05,080 --> 00:15:06,360 suddenly complicated tax, don't they? 318 00:15:07,080 --> 00:15:09,200 Yeah, for sure, for sure. And yeah, and again, you 319 00:15:09,200 --> 00:15:10,680 mentioned, you know, a tax cloud. 320 00:15:10,680 --> 00:15:14,240 We're always careful to say, you know, we'll give you our advice 321 00:15:14,240 --> 00:15:17,160 and learnings from our experience of working with over 322 00:15:17,160 --> 00:15:20,400 2000 e-commerce brands. But for your particular 323 00:15:20,400 --> 00:15:23,440 situation, if you're really in a, you know, have to make a hard 324 00:15:23,440 --> 00:15:26,280 decision about your tax for your business, we certainly always 325 00:15:26,280 --> 00:15:29,520 recommend working with a tax professional, a tax lawyer and 326 00:15:29,520 --> 00:15:32,560 those sort of things just to get that general disclaimer out of 327 00:15:32,560 --> 00:15:35,840 the way. But the, but on some of the 328 00:15:35,840 --> 00:15:39,560 situations you're you're talking about, I think drop shipping is 329 00:15:39,560 --> 00:15:43,200 a really common one that that comes up and that's like one of 330 00:15:43,200 --> 00:15:47,120 the bigger questions we get. Whereas you know, who's actually 331 00:15:47,120 --> 00:15:51,000 responsible for the tax that you need to be, you know, you're, 332 00:15:51,320 --> 00:15:54,160 you're kind of just handling the front end, but you're shipping, 333 00:15:54,440 --> 00:15:57,840 you're working with a supplier in those situations. 334 00:15:57,840 --> 00:16:01,240 Again, it's another, in most cases, it actually ends up being 335 00:16:01,240 --> 00:16:03,760 pretty simple for you, which is if you're selling the product, 336 00:16:03,760 --> 00:16:06,640 you need to handle the sales tax and you're going to have that 337 00:16:06,640 --> 00:16:09,360 obligation. The, the thing that you need to 338 00:16:09,360 --> 00:16:12,640 think about is making sure you're not dealing with sales 339 00:16:12,640 --> 00:16:15,800 tax twice. And So what you need to get is 340 00:16:15,880 --> 00:16:18,760 the exemption to say working with your supplier and get 341 00:16:18,760 --> 00:16:21,800 registered and say, I'm a, a certified seller. 342 00:16:21,920 --> 00:16:25,560 I'm exempt from tax when I'm buying it from from my supplier, 343 00:16:26,360 --> 00:16:29,360 knowing that you're going to take care of the sales tax when 344 00:16:29,360 --> 00:16:31,320 you're actually selling it to the end customer. 345 00:16:31,480 --> 00:16:34,680 So that's like A1 where people get really mixed up. 346 00:16:34,680 --> 00:16:38,280 They end up paying sales tax to their supplier, they end up then 347 00:16:38,320 --> 00:16:41,080 maybe not charging it to their customer and you can end up in a 348 00:16:41,080 --> 00:16:45,880 lot of just a mess there. So that's one to really watch 349 00:16:45,880 --> 00:16:49,640 out for if you're kind of doing shop drop shipping today. 350 00:16:51,160 --> 00:16:55,680 Digital goods is another one that can be pretty, I think 351 00:16:55,680 --> 00:16:58,400 there's a lot of confusion around where it's like, well, 352 00:16:58,400 --> 00:17:02,920 I'm not actually shipping a physical product, so am I 353 00:17:02,920 --> 00:17:05,880 actually obligated to charge sales tax? 354 00:17:06,240 --> 00:17:08,079 I can speak from the US perspective. 355 00:17:08,079 --> 00:17:11,680 This is another great example of the answer is going to be it 356 00:17:11,680 --> 00:17:14,480 depends based on the states that you're working in. 357 00:17:15,359 --> 00:17:19,319 You know, I know certain states like California will have more 358 00:17:19,319 --> 00:17:22,359 generous laws that will say you're actually be exempt in in 359 00:17:22,520 --> 00:17:27,359 for a lot of a lot of these virtual or digital goods, 360 00:17:27,560 --> 00:17:29,880 whereas there's other states where they're treated just the 361 00:17:29,880 --> 00:17:32,600 same as any other, you know, retail transaction. 362 00:17:32,600 --> 00:17:34,400 So that's just another yeah, go ahead. 363 00:17:34,560 --> 00:17:35,880 Yeah. Just to jump in, what was an 364 00:17:35,880 --> 00:17:39,440 example of a digital product? If someone's like, we have PDFs 365 00:17:39,440 --> 00:17:41,360 on our website that cost a dollar, is that a digital 366 00:17:41,360 --> 00:17:43,640 product like what's classified in that category? 367 00:17:44,080 --> 00:17:46,040 Yeah. I mean that that that would be a 368 00:17:46,040 --> 00:17:49,120 digital product. If you're selling ebooks, other 369 00:17:49,120 --> 00:17:52,480 things like online courses are great example of that. 370 00:17:52,480 --> 00:17:55,400 That's become a growing thing, people who are, you know, 371 00:17:55,440 --> 00:17:59,200 running courses and trainings and and and paid subscriptions 372 00:17:59,200 --> 00:18:03,200 that way if you're selling, one thing to think about we haven't 373 00:18:03,200 --> 00:18:05,760 talked yet about is this whole idea of marketplaces. 374 00:18:06,280 --> 00:18:10,840 So if you're selling digital products on a marketplace, a 375 00:18:10,840 --> 00:18:15,560 marketplace is, think about it as you know, the Amazons or 376 00:18:15,560 --> 00:18:19,200 Etsy's of the world, they're actually kind of handling the 377 00:18:19,200 --> 00:18:21,920 front end and you're just kind of selling your product through 378 00:18:21,920 --> 00:18:23,800 those. It's not like you're owning the 379 00:18:23,800 --> 00:18:26,000 transaction in the way that you are with Shopify. 380 00:18:26,240 --> 00:18:30,440 Actually, even the Shop app. If you're on Shopify and selling 381 00:18:30,440 --> 00:18:33,120 through the Shop app and people are discovering you there, 382 00:18:33,240 --> 00:18:35,280 that's also considered a marketplace. 383 00:18:36,000 --> 00:18:38,120 And I bring up marketplaces because if you're selling 384 00:18:38,120 --> 00:18:41,640 through there, generally the marketplace is actually handling 385 00:18:42,040 --> 00:18:46,200 the sales tax calculation and filing on your behalf. 386 00:18:46,480 --> 00:18:50,240 So those orders you actually don't have to worry about filing 387 00:18:50,240 --> 00:18:53,560 for or collecting. So that's where it starts to get 388 00:18:53,560 --> 00:18:55,600 a a little tricky as well. So if you're selling directly 389 00:18:55,600 --> 00:18:58,760 through your store for those sort of things, generally you 390 00:18:58,760 --> 00:19:01,240 will have to collect sales tax. If you're working through a 391 00:19:01,240 --> 00:19:03,800 marketplace, generally they're going to handle that for you. 392 00:19:04,520 --> 00:19:06,760 So it's all that kind of intricate stuff that you got to 393 00:19:06,760 --> 00:19:08,680 be thinking about when it comes to those as well. 394 00:19:48,560 --> 00:19:53,160 Now back to the show feedback. We get a lot from a lot of the 395 00:19:53,160 --> 00:19:55,840 big Etsy and Amazon type marketplaces. 396 00:19:56,160 --> 00:19:58,320 People often say like it's hard enough trying to make a profit 397 00:19:58,320 --> 00:20:01,240 on my product I can't afford. To like sell it on there at the 398 00:20:01,240 --> 00:20:03,880 price they want me to competitively it's but actually 399 00:20:03,880 --> 00:20:06,800 when you start to factor in that they're handling the tax for 400 00:20:06,800 --> 00:20:09,360 you, you know, not, not always. Again, speak to financial 401 00:20:09,360 --> 00:20:11,280 professionals, find out exactly what's happening under the hood. 402 00:20:11,280 --> 00:20:14,600 But if the if in that scenario they are looking after the tax 403 00:20:14,600 --> 00:20:17,120 for you, well, you can factor that in and say, all right, 404 00:20:17,120 --> 00:20:19,160 well, when I'm having to pay a sales tax over here, I'm not 405 00:20:19,160 --> 00:20:20,800 having to pay on Amazon, for example. 406 00:20:21,160 --> 00:20:24,000 Well, actually that means that Amazon's, whatever their fee is, 407 00:20:24,000 --> 00:20:27,000 I can discount that because I have to pay it to the government 408 00:20:27,000 --> 00:20:29,680 or state whatever, either way, whether I'm doing it directly or 409 00:20:29,680 --> 00:20:31,560 they're doing it on my behalf, which actually means the 410 00:20:31,560 --> 00:20:33,680 economics of it start to look a little bit more attractive. 411 00:20:33,680 --> 00:20:36,280 So definitely something to consider with the financials. 412 00:20:36,840 --> 00:20:39,160 Yeah, Yeah, that's a great, that's a great way of looking at 413 00:20:39,160 --> 00:20:40,200 it. You know, I think there's all 414 00:20:40,200 --> 00:20:42,800 the pros and cons of certain marketplaces. 415 00:20:42,800 --> 00:20:46,240 We see, we see brands that are selling on like large 416 00:20:46,240 --> 00:20:48,800 marketplaces like the Amazons of the world. 417 00:20:49,040 --> 00:20:51,360 We also see ones that are, are selling through more like 418 00:20:51,360 --> 00:20:55,960 vertical eyes, niche marketplaces where generally the 419 00:20:55,960 --> 00:20:58,520 terms might be a little bit more, you know, beneficial to 420 00:20:58,520 --> 00:21:00,960 them as well. But yeah, that's just a, it's a, 421 00:21:01,120 --> 00:21:03,680 it's a big consideration. And the big thing about 422 00:21:03,680 --> 00:21:08,200 marketplaces to know is you all the sales tax will be handled 423 00:21:08,200 --> 00:21:10,520 through those. But generally there are still 424 00:21:10,520 --> 00:21:13,400 some states if you're selling in the US where you at least want 425 00:21:13,400 --> 00:21:16,080 to still have visibility of those marketplace orders because 426 00:21:16,080 --> 00:21:20,040 those still can count towards that Nexus I was talking about 427 00:21:20,040 --> 00:21:23,040 before. And so another example of if 428 00:21:23,040 --> 00:21:26,720 you're just using, you know, through like a Shopify tax, for 429 00:21:26,720 --> 00:21:30,680 example, well, Shopify is going to help you track all of your 430 00:21:30,680 --> 00:21:33,600 Shopify orders, but how do you make sure you're also tracking 431 00:21:33,600 --> 00:21:35,320 your orders through all your marketplaces? 432 00:21:35,320 --> 00:21:38,640 This is another example where using a third party tool can be 433 00:21:38,640 --> 00:21:41,880 beneficial to help you consolidate your orders, whether 434 00:21:41,880 --> 00:21:45,560 it's through marketplaces and Shopify or if you're selling on, 435 00:21:46,040 --> 00:21:48,840 if you're doing invoicing through a quick quote, books or 436 00:21:48,840 --> 00:21:51,480 something like that. All of these can have tax 437 00:21:51,520 --> 00:21:53,840 obligations and being able to centralized that through a tool 438 00:21:53,840 --> 00:21:56,000 can be really important as well. Yeah. 439 00:21:56,000 --> 00:21:58,680 I'm saying again, it's a really good point where having run a 440 00:21:58,680 --> 00:22:01,240 Shopify business before and tried to like start selling 441 00:22:01,240 --> 00:22:04,800 throughout Europe and and across into the US, suddenly then we 442 00:22:05,000 --> 00:22:07,360 mentioned this earlier already like having those cross-border 443 00:22:07,360 --> 00:22:09,040 things and we're we're going to talk about it a little bit more 444 00:22:09,040 --> 00:22:11,240 in a moment. But even the cross borders like 445 00:22:11,240 --> 00:22:14,480 it gets so complicated that's you just to go, this product is 446 00:22:14,480 --> 00:22:18,920 £100 or €100 or $100. That's what I'm selling it at. 447 00:22:19,000 --> 00:22:21,200 And then you have something that just says, and here's the 448 00:22:21,200 --> 00:22:23,320 economics of how that works from. 449 00:22:23,560 --> 00:22:27,400 So then you go, OK, off the 100 lbs dollars EUR that I'm going 450 00:22:27,400 --> 00:22:29,520 to receive from the customer for this product. 451 00:22:30,280 --> 00:22:33,280 Do I factor shipping in or not? What margin have I actually got 452 00:22:33,280 --> 00:22:34,920 on this thing? I, I think it's, it's, it's 453 00:22:34,920 --> 00:22:37,040 amazing. Just, I mean, even the, the 454 00:22:37,040 --> 00:22:39,800 business we ran, which was bamboo sunglasses, looking at 455 00:22:39,800 --> 00:22:41,880 the bamboo sunglass saying, right, it's what, between 1:00 456 00:22:41,880 --> 00:22:44,480 and $2.00 to buy a pair of sunglasses. 457 00:22:44,840 --> 00:22:47,720 By the time I'd paid the import duty, the shipping cost put them 458 00:22:47,720 --> 00:22:49,840 in a warehouse like we used our office. 459 00:22:49,840 --> 00:22:52,360 But it's, it's still physical space that's the business is 460 00:22:52,360 --> 00:22:55,040 paying for at some point. All of those things going all 461 00:22:55,040 --> 00:22:59,160 right, if I sell them at $20.00 or £20 per pair, the economics 462 00:22:59,160 --> 00:23:03,400 are going from 2:00 to 20 means I should have a 90% margin. 463 00:23:03,400 --> 00:23:05,640 But actually, when I start to factor everything in and we 464 00:23:05,640 --> 00:23:08,160 often wanted to offer free shipping, I had actually like 2 465 00:23:08,160 --> 00:23:09,840 or 3 lbs of dollars left at the end. 466 00:23:09,840 --> 00:23:12,080 And it was like, the economics don't work here. 467 00:23:12,080 --> 00:23:15,800 I need to rethink this and see, I, I think having something that 468 00:23:16,000 --> 00:23:18,840 like tax cut that just gives you that report to say, these are 469 00:23:18,840 --> 00:23:20,760 the economics from a tax perspective. 470 00:23:20,960 --> 00:23:23,360 And you say, right, how you know, then you can start to just 471 00:23:23,360 --> 00:23:24,920 play with the sums on a spreadsheet, can't you? 472 00:23:24,920 --> 00:23:27,360 Or even within Shopify and say, if I sell it at this price, 473 00:23:27,800 --> 00:23:30,560 those are my economics, but then now we can do the marketing bit. 474 00:23:30,600 --> 00:23:32,680 How does that compare to the next person who sells a similar 475 00:23:32,680 --> 00:23:34,920 product, what differentiates ours, etcetera, etcetera. 476 00:23:34,920 --> 00:23:37,800 But so many businesses when they get these economics wrong, it's 477 00:23:37,800 --> 00:23:40,040 a problem. And obviously, we're not going 478 00:23:40,040 --> 00:23:42,400 to ask you to name names, but I know you've got a few examples 479 00:23:42,400 --> 00:23:45,080 of actually where this has gone wrong, where brands have made 480 00:23:45,080 --> 00:23:47,040 mistakes for this. Give us a few. 481 00:23:47,160 --> 00:23:49,480 Give us a few examples of actually where, again, it's like 482 00:23:49,480 --> 00:23:51,320 warning signs and nice learnings for the rest of us. 483 00:23:51,320 --> 00:23:54,800 So no one follows in this wake. Yeah, yeah. 484 00:23:54,840 --> 00:23:59,280 I mean, the most common situation we see for brands who 485 00:23:59,280 --> 00:24:03,760 have grown really fast, you know, maybe we've had situations 486 00:24:03,760 --> 00:24:07,320 where businesses, you know, maybe they got featured on, they 487 00:24:07,320 --> 00:24:10,200 got some media coverage that they weren't expecting that 488 00:24:10,200 --> 00:24:13,160 really helped blow things up. Or maybe they went into the 489 00:24:13,160 --> 00:24:17,120 holidays, Black Friday, Cyber Monday last year and, and they 490 00:24:17,120 --> 00:24:20,720 get big spike in sales or they're just a successful brand 491 00:24:20,720 --> 00:24:23,280 that's really grown real really fast just because they're doing 492 00:24:23,280 --> 00:24:27,080 well and they're they get some virality on their products and 493 00:24:27,160 --> 00:24:31,960 they just don't think about the dealing with sales tax at all. 494 00:24:32,000 --> 00:24:34,640 You know, that's a that's something that happens where it 495 00:24:34,640 --> 00:24:36,800 becomes maybe an afterthought for them. 496 00:24:37,320 --> 00:24:39,440 Or they're like, hey, we'll take care of the states where we have 497 00:24:39,440 --> 00:24:42,560 physical Nexus, but we'll worry about everything else later. 498 00:24:42,800 --> 00:24:47,520 And if you haven't that at some point you're gonna have to deal 499 00:24:47,520 --> 00:24:50,040 with it. And so the biggest thing we say 500 00:24:50,040 --> 00:24:53,200 is like deal with it now. Don't wait. 501 00:24:53,800 --> 00:24:56,200 Even though it's not something any of us really want to have to 502 00:24:56,200 --> 00:25:00,120 deal with in that situation, there's different paths you'll 503 00:25:00,120 --> 00:25:02,560 be able to go. That's definitely a situation 504 00:25:02,560 --> 00:25:05,720 where if you're in that, if you know you've reached next, if you 505 00:25:05,720 --> 00:25:08,120 start come out of this episode and start searching and say, 506 00:25:08,400 --> 00:25:12,200 wow, I, I have an obligation in a lot of states or different 507 00:25:12,200 --> 00:25:14,120 regions and I haven't taken care of that. 508 00:25:14,320 --> 00:25:17,520 Like that's definitely a situation you should work with a 509 00:25:17,600 --> 00:25:19,800 professional. I would certainly recommend that 510 00:25:19,800 --> 00:25:22,960 because they can help guide you. There's a lot that you'll want 511 00:25:23,000 --> 00:25:25,920 to know there, but typically based on when you hit these 512 00:25:25,920 --> 00:25:28,480 different thresholds, there is a path to getting compliant. 513 00:25:28,480 --> 00:25:31,440 It doesn't mean that you'll, you know, be audited and your 514 00:25:31,600 --> 00:25:33,560 business will completely fail or anything like that. 515 00:25:33,560 --> 00:25:35,800 You just want to go through the proper steps to make sure you 516 00:25:35,800 --> 00:25:39,320 get into a good spot. And generally the different 517 00:25:39,320 --> 00:25:42,280 states you work with here in the US, they'll, they're happy to 518 00:25:42,280 --> 00:25:45,280 work with you if you come to them in good faith and, and, and 519 00:25:45,280 --> 00:25:47,880 handle that part of it. But that's certainly another 520 00:25:47,880 --> 00:25:50,720 example of where having a tool that can help you get all the 521 00:25:50,720 --> 00:25:53,240 reports you need, get all the view of your historicals and all 522 00:25:53,240 --> 00:25:54,520 that is going to be really important. 523 00:25:54,520 --> 00:25:59,240 So that, that's certainly the, the, the most common and we see 524 00:25:59,240 --> 00:26:02,840 that from some large brands that you'd be surprised, you know, 525 00:26:02,840 --> 00:26:04,920 you might be surprised that they're in that situation. 526 00:26:05,440 --> 00:26:07,200 If you are in the situation, make sure that you're also 527 00:26:07,200 --> 00:26:11,360 accounting, have some funds to take care of that at some point. 528 00:26:11,360 --> 00:26:14,480 If you're like, we're not going to deal with it, OK, I, I 529 00:26:14,480 --> 00:26:16,280 certainly wouldn't recommend that, but make sure you have 530 00:26:16,280 --> 00:26:19,280 funds because that that bill will come to you eventually. 531 00:26:19,280 --> 00:26:22,280 So that would be 1 big one. I can do stop there. 532 00:26:22,280 --> 00:26:24,640 I don't know if you if you've run into that at all or seen 533 00:26:24,640 --> 00:26:26,920 that, but. We have, yeah, I, it's one of my 534 00:26:26,920 --> 00:26:28,760 catch phrases. I'm, I am writing a book, by the 535 00:26:28,760 --> 00:26:31,200 way, guys, and I'm not plugging it because it's not going to be 536 00:26:31,200 --> 00:26:34,320 ready for at least 10 years. But I'm writing memoirs and one 537 00:26:34,320 --> 00:26:37,600 of the funniest memoirs I've got is we, there's a small shortlist 538 00:26:37,600 --> 00:26:39,520 of brands. So I'm not going to name by name 539 00:26:39,520 --> 00:26:42,000 in the book, but I am going to talk in my book, which is hence 540 00:26:42,000 --> 00:26:44,320 why it reminded me this about my, my catch phrase scaling a 541 00:26:44,320 --> 00:26:46,640 problem. And it's I think it's so 542 00:26:46,640 --> 00:26:48,840 fundamental that so many businesses are like, wow, this 543 00:26:48,840 --> 00:26:50,600 has really taken off. Customers are buying. 544 00:26:51,080 --> 00:26:53,320 But actually, I think I've come to learn that over the years 545 00:26:53,320 --> 00:26:56,240 that although in the early days, the customers buying is the 546 00:26:56,240 --> 00:26:59,040 hardest problem to solve. Without that you do have 547 00:26:59,040 --> 00:27:00,800 nothing. You know, that's money comes in 548 00:27:00,800 --> 00:27:02,760 and then it starts trickling out into all these different streams 549 00:27:02,760 --> 00:27:05,680 from staff to offices, to products, to tax to everything 550 00:27:05,680 --> 00:27:07,200 else. If if you're not getting the 551 00:27:07,600 --> 00:27:10,120 customers in, then you have an issue once you are getting them 552 00:27:10,120 --> 00:27:12,080 in, if you've not done your, I call them the, you know, kind of 553 00:27:12,080 --> 00:27:14,320 product economics. If you've not done those product 554 00:27:14,480 --> 00:27:17,800 economic sums and work it all out, when you do scale when as 555 00:27:17,800 --> 00:27:20,480 you say, like it's interesting you mentioned the press because 556 00:27:20,480 --> 00:27:23,600 normally when someone blows up in the press, that article 557 00:27:23,600 --> 00:27:26,160 they've got in the press hasn't actually cost them anything. 558 00:27:26,560 --> 00:27:29,640 So from the very, very first point, you have the cheapest 559 00:27:29,800 --> 00:27:32,840 like basically free point of marketing where the CEO got 560 00:27:32,840 --> 00:27:35,480 invited on the news and suddenly sales have spiked. 561 00:27:35,480 --> 00:27:38,040 And if you are making a loss and you haven't done the economics 562 00:27:38,040 --> 00:27:40,560 properly, the loss is going to go from, you know, if it's, if 563 00:27:40,560 --> 00:27:43,960 you're making a 5% loss and that's currently $5 and you 564 00:27:43,960 --> 00:27:46,760 tenfold up, you've now made a $50 loss and there might be as 565 00:27:46,760 --> 00:27:49,280 many other zeros on both of those two sums as you like. 566 00:27:49,600 --> 00:27:51,840 So I think the scaling a problem is such an issue. 567 00:27:51,840 --> 00:27:54,320 And we've had brands before go, it's all going really well. 568 00:27:54,320 --> 00:27:57,160 ROI is great, like we're making really good orders and stuff, 569 00:27:57,160 --> 00:28:00,040 but we basically we're on the verge of shutting down the whole 570 00:28:00,040 --> 00:28:01,640 company like just stop everything. 571 00:28:01,640 --> 00:28:02,840 We need to kind of take a step back. 572 00:28:03,400 --> 00:28:05,840 I think when the free orders through, I say free is in 573 00:28:05,840 --> 00:28:09,920 marketing, free through SEO, through e-mail, through PR, when 574 00:28:09,920 --> 00:28:12,800 they're not making your money, it's like, okay, seriously guys, 575 00:28:12,800 --> 00:28:15,200 we need to get a financial advisor in and obviously some 576 00:28:15,200 --> 00:28:17,160 like tax clouds going to help. What are some of the other 577 00:28:17,160 --> 00:28:19,240 problems on your list that that you guys have seen? 578 00:28:19,960 --> 00:28:25,240 Yeah, I mean the other, so one that's like less high stakes, I 579 00:28:25,240 --> 00:28:28,000 would say that happens a lot is some people when they get 580 00:28:28,000 --> 00:28:31,400 started, they actually are just like, oh, I have a store, they 581 00:28:31,400 --> 00:28:34,440 go into their Shopify settings, they see tax and they just like 582 00:28:34,720 --> 00:28:37,040 turn tax collection on. Boring where? 583 00:28:37,160 --> 00:28:38,040 Yeah, we'll turn it off. Yeah. 584 00:28:38,480 --> 00:28:40,600 Yeah, yeah, yeah. Either either way, like turn it 585 00:28:40,600 --> 00:28:43,360 off or if you just turn it on, just start collecting. 586 00:28:44,000 --> 00:28:47,760 And if you're particularly for new like you, you don't need to 587 00:28:47,760 --> 00:28:49,880 start collecting. And in fact, you shouldn't start 588 00:28:49,880 --> 00:28:53,840 collecting until you are at a point where you really need to 589 00:28:53,840 --> 00:28:56,560 register with the state. And so that's one thing I would, 590 00:28:56,560 --> 00:28:58,840 I would think about as well. I think that's certainly the 591 00:28:58,840 --> 00:29:03,080 case in the US that don't start just collecting now because 592 00:29:03,080 --> 00:29:06,160 ultimately you're collecting tax that you don't actually have to 593 00:29:06,160 --> 00:29:08,720 file with the state. And so wait till you have Nexus 594 00:29:08,720 --> 00:29:12,320 or are approaching Nexus before you actually go and get 595 00:29:12,320 --> 00:29:14,840 registered with the states. And that's something we see 596 00:29:14,840 --> 00:29:16,680 businesses doing where they're like, I just want to get this 597 00:29:16,680 --> 00:29:18,080 over with now and start doing it. 598 00:29:18,080 --> 00:29:21,240 And that can put you in a weird situation where you're actually 599 00:29:21,240 --> 00:29:23,200 collecting tax that you don't really need to be. 600 00:29:23,200 --> 00:29:25,200 And then. It's just another thing, isn't 601 00:29:25,200 --> 00:29:26,760 it? And it puts your prices up and 602 00:29:26,880 --> 00:29:28,080 yeah. Yeah, yeah. 603 00:29:28,080 --> 00:29:29,840 And in some situations like you're collecting money from 604 00:29:29,840 --> 00:29:33,400 your customers that actually you really shouldn't be. 605 00:29:33,800 --> 00:29:36,520 And so it kind of put can put put you in a bit of a weird 606 00:29:36,920 --> 00:29:41,200 position as well. Other really common one just to 607 00:29:41,200 --> 00:29:46,120 speak to is, you know, this one is a little bit more general, 608 00:29:46,320 --> 00:29:51,000 but you know, at Tax Cloud we're dealing with a lot of businesses 609 00:29:51,000 --> 00:29:53,280 who are switching from other providers. 610 00:29:53,280 --> 00:29:56,360 And again, like, I really don't present this one as a way of 611 00:29:56,360 --> 00:29:58,920 just like bashing other providers, but I think it is 612 00:29:58,920 --> 00:30:03,640 good context to learn from where there's, it's a, it's a, a world 613 00:30:03,640 --> 00:30:06,360 where if you've been you paying attention to sales tax for a 614 00:30:06,360 --> 00:30:09,920 while, there's like one or two providers maybe five years ago 615 00:30:09,920 --> 00:30:11,440 that like everyone's like, I'll just use them. 616 00:30:11,640 --> 00:30:15,960 And and you get locked into these tools and you actually 617 00:30:15,960 --> 00:30:19,000 don't realize that there's cheaper alternatives out there, 618 00:30:19,000 --> 00:30:21,440 that there's alternatives like tax cloud where we really put a 619 00:30:21,440 --> 00:30:24,960 priority on people and customer support and making sure we're 620 00:30:24,960 --> 00:30:29,320 really responsive. And that's another big one that 621 00:30:29,320 --> 00:30:32,320 like make sure if you have a tool in place today that you're 622 00:30:32,320 --> 00:30:35,080 doing your work of looking all their alternatives that are out 623 00:30:35,080 --> 00:30:38,520 there. That's a big one and tied to 624 00:30:38,520 --> 00:30:41,400 that, if you're selling in the US today and you're using 625 00:30:41,400 --> 00:30:43,960 provider, maybe just like a little inside tip I'd give 626 00:30:43,960 --> 00:30:48,200 people is to work with a provider who's part of the 627 00:30:48,200 --> 00:30:52,640 streamlined sales tax. It's called SST program. 628 00:30:52,880 --> 00:30:58,480 This is actually a program where there's certified providers that 629 00:30:59,120 --> 00:31:00,800 automatically will file on your behalf. 630 00:31:00,800 --> 00:31:03,400 I think it's on 26 states, maybe 20. 631 00:31:03,640 --> 00:31:06,960 The numbers has changed a little bit, but you don't get charged 632 00:31:06,960 --> 00:31:09,320 when you work with a provider for those states. 633 00:31:09,320 --> 00:31:12,120 So we actually pass that savings on to you. 634 00:31:12,360 --> 00:31:15,520 There's only, I think 6 or 7 providers in the US. 635 00:31:15,520 --> 00:31:20,320 So it's kind of free of free filing to, to, to deal with. 636 00:31:21,040 --> 00:31:23,640 And so if you're working with someone today, ask about that 637 00:31:23,640 --> 00:31:26,720 program, that's another mistake we see is people just maybe use 638 00:31:26,720 --> 00:31:28,760 a provider who they could be getting that program or they 639 00:31:28,760 --> 00:31:30,200 don't use a provider. That's part of it. 640 00:31:30,400 --> 00:31:33,280 And that's just money you're leaving on the table that's 641 00:31:33,280 --> 00:31:34,960 gonna that you could be taking advantage of. 642 00:31:34,960 --> 00:31:36,320 So we certainly recommend that as well. 643 00:31:37,080 --> 00:31:38,440 I mean, that's a really, really good tip. 644 00:31:39,360 --> 00:31:41,400 I, I, I think it is, as you say, money on the table. 645 00:31:41,400 --> 00:31:43,200 Why on earth would you want to overpay for this stuff? 646 00:31:43,440 --> 00:31:44,880 I don't mind. I, I would say I don't mind 647 00:31:44,880 --> 00:31:47,920 paying a bit more if it makes things easy and simple, but that 648 00:31:47,920 --> 00:31:49,560 it feels like a bit of a box tick just to say to your 649 00:31:49,560 --> 00:31:51,040 provider, are you doing this? No. 650 00:31:51,040 --> 00:31:52,520 Well, could you start doing it for me? 651 00:31:53,320 --> 00:31:56,160 I, I, I think in the UK as well, like just just something to flag 652 00:31:56,160 --> 00:31:58,840 about my VAT return because this relates to selling products 653 00:31:58,840 --> 00:32:00,480 here. And I know it's similar in the 654 00:32:00,480 --> 00:32:02,720 US and it's similar across lots of other States and countries. 655 00:32:02,720 --> 00:32:06,880 Is when I, when, when I first registered for VAT, the thing I 656 00:32:06,880 --> 00:32:09,840 hadn't even realised because again, I was so focused on just 657 00:32:09,840 --> 00:32:13,400 getting leads and, and clients in, back in, I'm trying to look 658 00:32:13,400 --> 00:32:14,800 at the dates. It would have been 2000 and 659 00:32:14,800 --> 00:32:16,920 eight 2009. I sort of started out in this, 660 00:32:17,440 --> 00:32:19,320 but, but I remember back then I was so busy trying to get 661 00:32:19,320 --> 00:32:22,840 clients in, I didn't realise that I could offset tax as well. 662 00:32:22,840 --> 00:32:25,760 And again, we're not going to give financial advice, but I 663 00:32:25,760 --> 00:32:29,160 would look into that where by collecting tax from my clients 664 00:32:29,160 --> 00:32:32,160 or in your case everybody, your customers, you can offset some 665 00:32:32,160 --> 00:32:34,360 of that tax where you're also spending money in some 666 00:32:34,360 --> 00:32:36,920 situations. And certainly here in the UK, 667 00:32:36,920 --> 00:32:40,400 every tax return, every business puts in for VAT, value added 668 00:32:40,400 --> 00:32:42,480 tax. It's our version of sales tax. 669 00:32:42,560 --> 00:32:45,920 We have an extra word in ours. No one knows why but the but, 670 00:32:45,920 --> 00:32:47,880 but by doing that we can offset some of it. 671 00:32:47,880 --> 00:32:50,520 So again, I think even I don't know, I don't know if you can 672 00:32:50,520 --> 00:32:53,520 comment on whether that sort of situation in the US and tax 673 00:32:53,520 --> 00:32:56,760 cloud having that perspective. Actually going back to one of my 674 00:32:56,760 --> 00:32:59,600 earlier questions, doing that calculation of when should I go 675 00:32:59,600 --> 00:33:03,240 from DIY and manual to a more automated filing system. 676 00:33:03,520 --> 00:33:05,760 Actually that that was a real factor for me of saying, well, 677 00:33:05,760 --> 00:33:08,840 I'm already spending this much per month on tools I'm using 678 00:33:08,840 --> 00:33:11,680 services I'm buying products, I'm buying computers. 679 00:33:11,880 --> 00:33:14,640 There's 20% VAT on all the computers I buy here in the UK. 680 00:33:14,880 --> 00:33:18,640 And actually, if I'm buying a MacBook for 1000 lbs, 200 lbs is 681 00:33:18,760 --> 00:33:21,960 on top is Vati could offset the 200 lbs versus VAT. 682 00:33:21,960 --> 00:33:23,760 It's coming. So I've just saved £200. 683 00:33:24,120 --> 00:33:27,840 I think it's, there's a real way to be tax savvy, I would say. 684 00:33:27,880 --> 00:33:30,400 And, and it's important to have the right data and the right 685 00:33:30,400 --> 00:33:33,280 tool like Tax Cloud to actually have that information to be able 686 00:33:33,280 --> 00:33:36,240 to make some of those decisions. Yeah, Yeah, for sure. 687 00:33:36,240 --> 00:33:39,000 I mean, I think in the in the US there's a little bit more of 688 00:33:39,000 --> 00:33:42,520 kind of offsetting like your other business taxes outside of 689 00:33:42,720 --> 00:33:47,080 kind of like general sales tax. I mean, for, for us, what we 690 00:33:47,080 --> 00:33:50,600 really find on the sales tax side in terms of thinking about 691 00:33:50,600 --> 00:33:55,000 kind of cost savings and, and those sort of things are a few 692 00:33:55,000 --> 00:33:56,680 of the things we've talked about, right? 693 00:33:56,800 --> 00:33:59,680 Understanding your exemption in those products. 694 00:33:59,680 --> 00:34:01,240 That's certainly a big part of it. 695 00:34:01,480 --> 00:34:04,840 And having a tool that can actually track that stuff, you 696 00:34:04,840 --> 00:34:09,320 know, using a provider that is, you know, you, there's, we've 697 00:34:09,320 --> 00:34:12,400 talked a lot about the additional cost of tax, but then 698 00:34:12,400 --> 00:34:16,159 there's an additional cost of using a provider. 699 00:34:16,280 --> 00:34:18,239 Now paying for a tool obviously is going to make your life 700 00:34:18,239 --> 00:34:21,840 easier, but you know, definitely do some price comparison out 701 00:34:21,840 --> 00:34:25,320 there of these tools and make sure you're not overpaying for 702 00:34:25,320 --> 00:34:26,719 the solutions you're using as well. 703 00:34:26,719 --> 00:34:31,159 That's why we recommend Shopify tax because to a certain 704 00:34:31,159 --> 00:34:34,120 threshold if you're a new business, you actually won't 705 00:34:34,120 --> 00:34:36,960 have to pay anything. And then I don't know if top my 706 00:34:36,960 --> 00:34:38,600 head, but there is some threshold where you will start 707 00:34:38,600 --> 00:34:42,520 to have to pay Shopify, but then they cap that expense, right. 708 00:34:42,520 --> 00:34:45,840 And then so thinking about, you know, the provider and the and 709 00:34:45,840 --> 00:34:49,400 the cost related to that. And then obviously the last part 710 00:34:49,400 --> 00:34:52,520 of it is just making sure you stay compliant so that you're 711 00:34:52,520 --> 00:34:56,480 not dealing with other penalties after the fact and getting into 712 00:34:56,480 --> 00:34:59,200 a bad situation. Those are all kind of the cost 713 00:34:59,200 --> 00:35:01,960 related items that generally we're thinking about on the 714 00:35:01,960 --> 00:35:05,040 sales tax side, tax cloud and having a tool that can help 715 00:35:05,040 --> 00:35:06,680 automate all of that for you. It's just going to make your 716 00:35:06,680 --> 00:35:09,960 life a lot easier for sure. Yeah, yeah, absolutely amazing. 717 00:35:09,960 --> 00:35:12,720 And one of the best bits of advice I ever had was, and this 718 00:35:12,840 --> 00:35:15,040 is going to sound so simple to you, especially if you've been 719 00:35:15,040 --> 00:35:17,680 the CEO, you would have looked at loads of these is AP and L 720 00:35:17,680 --> 00:35:20,720 report, profit and loss. You would not believe how 721 00:35:20,720 --> 00:35:22,920 important they are. Guys, whether you're running a 722 00:35:22,920 --> 00:35:25,840 Shopify business, an agency business, a hair salon, whatever 723 00:35:25,840 --> 00:35:28,440 it is, you need AP and L report and you need it regularly. 724 00:35:28,440 --> 00:35:30,160 And you're not going to have accurate data if you don't use 725 00:35:30,160 --> 00:35:32,720 the right tools for it. The profit and loss, literally, 726 00:35:33,120 --> 00:35:34,880 I assume they're the same format all around the world. 727 00:35:34,880 --> 00:35:37,840 I use 0 here. The top bit just says all of my 728 00:35:37,880 --> 00:35:39,760 income and that falls in a few buckets. 729 00:35:40,160 --> 00:35:42,000 Then there's a big long list, which is really depressing 730 00:35:42,000 --> 00:35:43,840 because it's bigger than the income list and that's the 731 00:35:43,880 --> 00:35:46,680 outgoings list tend to be they have to be smaller numbers or 732 00:35:46,680 --> 00:35:49,480 you're not making a profit, but just having access to that like 733 00:35:49,760 --> 00:35:53,440 like almost in real time guys. The, the difference on my side 734 00:35:53,440 --> 00:35:55,640 is that we have a lot of expenses that are like physical 735 00:35:55,640 --> 00:35:57,520 receipts and they all need to be logged by a bookkeeper. 736 00:35:57,960 --> 00:36:00,680 But actually within Shopify, a lot of your receipts can be done 737 00:36:00,880 --> 00:36:03,280 almost in real time through a system like tax cloud. 738 00:36:03,280 --> 00:36:06,160 To actually say this is your, I don't know if it's the same 739 00:36:06,160 --> 00:36:08,720 phrase in the US, but in the UK, we use the term run rate a lot 740 00:36:08,720 --> 00:36:11,600 when we talk about financials. So your run rate right now is 741 00:36:11,600 --> 00:36:14,080 how much cash are you making and how much are you burning? 742 00:36:14,320 --> 00:36:16,840 And it's like, have you got enough coal to keep that fire 743 00:36:16,840 --> 00:36:18,160 going without running out of coal? 744 00:36:18,440 --> 00:36:19,800 And that's the, the profit and loss bit. 745 00:36:19,800 --> 00:36:23,560 And so I think having access to that quickly, real time tax is 746 00:36:23,560 --> 00:36:27,600 such a big part of it. I, I won't, I won't moan too 747 00:36:27,600 --> 00:36:29,360 much about the tax rates in the UK. 748 00:36:29,600 --> 00:36:31,680 But if I was running this business 20 years ago, I'd be 749 00:36:31,680 --> 00:36:33,960 far more wealthy and probably have a lot more staff and a 750 00:36:33,960 --> 00:36:36,480 bigger office than I have now and the same income. 751 00:36:36,880 --> 00:36:39,680 So it's even more important, I think, in the current global 752 00:36:39,680 --> 00:36:42,640 climate to yeah, to keep a really close eye on this and 753 00:36:42,920 --> 00:36:45,360 yeah, yeah, yeah. But but Ryan, it's been so good 754 00:36:45,360 --> 00:36:46,720 to have you on the show. I really appreciate your time. 755 00:36:46,720 --> 00:36:48,960 And if anyone wants to reach out to Ryan and the team, go to 756 00:36:48,960 --> 00:36:50,800 taxcloud.com. Again, if you put a forward 757 00:36:50,800 --> 00:36:54,360 slash winning on the end free on boarding session for when you 758 00:36:54,520 --> 00:36:57,360 when you guys decide to make this make the switch and but but 759 00:36:57,360 --> 00:36:59,640 Ryan people can reach out to you guys have a conversation, ask 760 00:36:59,640 --> 00:37:01,600 questions in advance, can't they if they if they want to know 761 00:37:01,600 --> 00:37:03,080 what's going on and check out the free trial. 762 00:37:03,600 --> 00:37:05,960 Yeah, that's right. We offer a free trial, the tool 763 00:37:05,960 --> 00:37:08,640 30 day free trial. We also, as I mentioned before, 764 00:37:08,640 --> 00:37:10,920 we put a real value on being people first. 765 00:37:10,920 --> 00:37:13,640 You can talk to a real person here in the US. 766 00:37:13,840 --> 00:37:17,320 As I said today, we service US based businesses and businesses 767 00:37:17,720 --> 00:37:19,720 that are selling into North America. 768 00:37:19,720 --> 00:37:23,120 We'll hopefully go global eventually, but we're here to 769 00:37:23,120 --> 00:37:24,720 talk. If you're a business, whether 770 00:37:24,720 --> 00:37:27,880 you're in a different country or here and just have questions and 771 00:37:27,880 --> 00:37:30,760 want to evaluate the tool or just kind of understand a little 772 00:37:30,760 --> 00:37:33,360 bit, learn a little bit more. We got a great team here that's 773 00:37:33,360 --> 00:37:37,720 happy to, to talk anytime, go to tasklab.com as, as, as Nick 774 00:37:37,720 --> 00:37:39,800 mentioned there and we'll be happy to connect. 775 00:37:39,800 --> 00:37:42,440 So yeah, really hope this was valuable. 776 00:37:42,440 --> 00:37:44,160 Hope we didn't scare people too much. 777 00:37:44,160 --> 00:37:47,280 And yeah, you know, we're, we're here. 778 00:37:47,280 --> 00:37:49,920 We're here to be a real partner to help with your sales tax when 779 00:37:49,920 --> 00:37:52,560 you're when you're ready for it. I think sometimes a bit of 780 00:37:52,560 --> 00:37:55,240 stress is a good thing. Stress equals action in in all 781 00:37:55,240 --> 00:37:57,440 good situations, as long as it's imbalance. 782 00:37:57,440 --> 00:37:59,960 But now massive thank you, Ryan. I think there's so many things 783 00:37:59,960 --> 00:38:01,080 as well that you brought up there. 784 00:38:01,280 --> 00:38:03,160 We, we've never, we never really talked about on the show. 785 00:38:03,160 --> 00:38:06,400 We're so focused on the, the kind of really fun stuff, which 786 00:38:06,400 --> 00:38:09,240 seems fun, but actually it's all pointless doing the meta ads and 787 00:38:09,240 --> 00:38:11,600 the Google ads and the e-mail marketing and the, you know, 788 00:38:11,920 --> 00:38:14,000 launching a Netflix series alongside your brand, like we 789 00:38:14,000 --> 00:38:15,440 had somebody on recently as well. 790 00:38:15,800 --> 00:38:17,600 And that's all fun. But actually if you don't get 791 00:38:17,600 --> 00:38:19,600 the economics right, you're just heading towards bankruptcy. 792 00:38:19,600 --> 00:38:21,520 So now massive thank you, really appreciate time. 793 00:38:21,520 --> 00:38:23,480 Thanks for joining us. Hey, thanks a lot, Nick. 794 00:38:23,480 --> 00:38:25,760 Thanks everyone. Cool and for everyone listening 795 00:38:25,760 --> 00:38:28,320 at home, we are back again next week and tax cloud are going to 796 00:38:28,320 --> 00:38:29,440 be on our website going to check them out. 797 00:38:29,440 --> 00:38:31,680 There'll be links in the descriptions and if you have any 798 00:38:31,680 --> 00:38:34,040 questions for them at all or actually if this has sparked a 799 00:38:34,040 --> 00:38:37,680 topic of saying do you know what this drives me mad, Send us an 800 00:38:37,680 --> 00:38:39,800 e-mail hello at winning with shopify.com or check out 801 00:38:39,800 --> 00:38:42,960 wwspodcast.com. I always at this point say we 802 00:38:42,960 --> 00:38:45,160 couldn't keep winning with shopify.com because our 803 00:38:45,160 --> 00:38:47,400 website's on Shopify right now and our Shopify policies. 804 00:38:47,400 --> 00:38:49,840 You can't have the word Shopify in your domain, which is really 805 00:38:49,840 --> 00:38:52,280 annoying, but there we go. We are in the pendants like a 806 00:38:52,280 --> 00:38:53,400 mode about Shopify as much alike. 807 00:38:53,640 --> 00:38:55,720 Thanks for tuning in today guys. If you haven't already, please 808 00:38:55,720 --> 00:38:57,760 leave us a review, hit subscribe button and we will see you again 809 00:38:57,760 --> 00:38:58,760 next week. Take care.