Talking Internet Taxes, Outright

Amberly Dressler — Mon, 20 May 2013 14:40:00 GMT

As one of the first beta testers for Outright, accounting software for small businesses and those who are self-employed that was launched in 2008, Kat Simpson has seen her fair share of changes affecting online sellers. Perhaps no fluctuations as impactful as the one facing Internet retailers today, however.

“We are in the middle of a new era and whether or not the Marketplace Fairness Act passes will make a huge impact on how we proceed,” said Simpson. “Currently my advice is hold and keep an eye on our Senate.”

Simpson, who started her business in 1997 selling household items on eBay for extra money around the house, currently has a branded store, Kat's Boutique, on eBay selling products invented by and used by women. She also sells some of everything on the Amazon FBA platform.

In addition to tax changes, Simpson has seen changes to Outright, a solution she relies heavily on. In 2012, Outright was acquired by Go Daddy, a natural fit as both companies are passionate about helping small businesses grow. Go Daddy helps companies get online, and Outright helps them stay there with bookkeeping needs.

“I use Outright each week to reconcile my books, keep an eye on expenses and prepare for taxes,” said Simpson. “Monthly, I use the Sales Tax Reports to help me file sales taxes in the 10 states in which I have a presence thanks to FBA and at the end of the year I rely heavily on Outright to help prepare my income taxes.”

For those companies needing extra assistance in regard to the impending Marketplace Fairness Act, Priyanka Sharma, Product and Marketing at Outright, says they’ll be there to help.

“Regardless of what happens, Outright is committed to helping small businesses understand their sales tax obligations,” Sharma. “We have easy sales tax reporting so that sellers can see how much sales tax they have collected and submitted. Additionally, our blog, The Bottom Line, provides tips and information for online sellers, including a state-by-state guide to sales tax collection.”

Outright’s sales tax report also shows sellers how much they have collected in sales tax. Its sales-by-state report shows how much they have sold for the year in each state, so that they can determine whether they have met the limits that require them to collect sales tax.

OutRight's Accounting App in PayPal Apps (Beta)

Pete Prestipino — Mon, 01 Nov 2010 16:10:00 GMT

Online accounting solution Outright.com will provide its services to PayPal customers through the new Outright accounting application available in the PayPal Apps beta.

Outright’s application on PayPal Apps will leverage multiple PayPal X APIs and automatically pull up to two years of PayPal transactions and categorize those transactions, helping business owners better control their cash and manage their business. SMB's on PayPal.com will be able to see their cash flow, who their biggest customers are and where they’re spending money. Outright also provides valuable tax service including sales tax tracking, estimated tax calculations and a pre-populated Schedule C, the IRS income tax form for sole proprietors.

“When we learned from a recent PayPal study that 23 percent of small businesses using PayPal are managing their financials with spreadsheets, more than any other accounting program, we knew Outright was the perfect fit for PayPal businesses,” said Kevin Reeth, Outright co-founder and CEO. “Using PayPal X, Outright is able to automate accounting for small businesses on PayPal, eliminating the need for spreadsheets.”

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Talking Internet Taxes, Outright

OutRight's Accounting App in PayPal Apps (Beta)