New York SBDC Research Network

By Lucy Koch From eMarketer Most US consumers expect to get a tax refund this year, and they plan to stick their windfall in the piggy bank. A February 2019 survey from the National Retail Federation (NRF) showed that nearly two in three US adults said that they expected a tax refund this year, and half of those respondents said they planned to save it. That was in line with trends the NRF has seen since 2012, when plans to save became more common than paying down debt. Consumers’ reasons for saving varied—40.4% of respondents to the Valassis survey said that they planned to put their refund toward an emergency fund, while others were saving for bigger-ticket purchases like home improvements or furnishings (19.1%), vacations or experiences (15.2%) or a car purchase or auto-related expense (8.7%).

From Avalara Understanding where your company has nexus is an integral part of your sales tax compliance strategy because nexus dictates where your business is required to collect and remit tax. There are a lot of business activities that can cause your business to have nexus, but one is getting a lot of attention from states right now because it was at the forefront of the Supreme Court of the United States (SCOTUS) case South Dakota v. Wayfair, Inc. Sales tax nexus is the connection between a seller and a state that requires the seller to collect and remit tax on sales made in that state. Historically, nexus was based on physical presence. After the Wayfair decision, nexus can now also be established based on economic activity. If you have sales tax nexus in California and Texas, for example, you must collect and remit sales tax in California and Texas. Unfortunately, you can’t just figure out where you have nexus today and forget about it — you must closely monitor nexus on an

Article by Lucy Koch From eMarketer Earlier this month, Philadelphia passed a bill rendering cashless stores like Amazon Go and Sweetgreen illegal and banning future establishments from completely abandoning cash. By July 2019, most retailers in the city will be required to offer consumers a cash payment option... “The number of completely cashless businesses are few and far between, and research has shown that cash is still a preferred payment method for many shoppers in the US,” said eMarketer forecasting analyst Cindy Liu. An October 2018 survey from Pew Research Center showed that 70% of US adults used cash last year for at least some of their purchases during a typical week. Separately, 60% of US internet users polled by Cardtronics said that cash was the most available payment method for everyone, and another 90% viewed cash as essential to those without checking or savings accounts.

By MARK SULLIVAN From Fast Company Facebook’s Instagram photo-sharing app has become a hotspot for brands, and a hotspot for consumers who want a sort of digital window shopping experience. Today, Instagram sweetened the deal by adding a checkout feature to the app so users can buy stuff they see in their feed without ever having to leave Instagram... Instagram says its users have been sending strong signals that they want to be able to shop inside the app. The company says 80% of its users actively follow a brand or brands on Instagram. And 130 million users are interacting with shopping posts on Instagram every month, Instagram product management lead Ashley Yuki told me. “We started building this last year, but before we even did anything people were trying to shop for products on Instagram,” she said. The on-Instagram checkout feature is currently a closed beta, so only a small group of 20 brands will get it at first. They include Adidas, Burberry, H&M, Micheal Kors, Nik

By Lyndsey Matthews From AFAR The rules are about to change. Starting on January 1, 2021, all U.S. citizens who want to travel to the 26 members of Europe’s Schengen Zone will need to register with the European Travel Information and Authorization System (ETIAS) or risk being turned away at the border. The new travel authorization applies to those entering any member country of Europe’s Schengen Zone. Currently, that includes 22 countries that are also members of the EU, four non-EU countries, plus three European micro-states. That means that you’ll need to register starting in 2021 to enter Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland. The micro-states of San Marino, Vatican City, and Monaco will also require the registering. Through an online system on etiasvisa.com , a tr

By Andrew W. Hait, a survey statistician/economist at the Census Bureau. From the Census Bureau If you think a business is a brick-and-mortar place of work with employees and managers who have benefits and paid time off, think again. The latest data show that more than three-fourths of U.S. businesses may be run out of someone’s home and have zero employees. The rise in the number of self-employed has altered what people believe a business is. Last October, the U.S. Census Bureau released a new report that combines the data published on employer businesses with data on businesses without paid employees, or “Nonemployers.” This report challenges the common wisdom of just what is a business, how important are each of these two types of businesses, and how this definition and importance has changed. How Businesses Have Changed Traditionally, businesses are brick-and-mortar enterprises that have paid employees. They have staff who manage these employees and often provide benef

By Linsey Knerl From NAV There was a time, not long ago, when businesses in every industry grew with the labor and talent of workers classified as independent contractors. Even before the “gig economy” and “side hustles” were buzzed about (and companies like Lyft and Uber made them newsworthy) small businesses everywhere relied heavily on contract workers provide the bulk of their services. Hairdressers, construction workers, writers, and dog walkers were all classified as independent contractors with little to no challenge to their status, but all of that is changing. A recent California Supreme Court ruling, along with a handful of state and local ordinances have made some strict interpretation of who can—and who can’t—be called a contractor. Washington state has even produced a "step by step guide" for businesses to classify and hire their workers with the appropriate classification. While the exact rules differ slightly from region to region, there is a common thr