Tech Talk with Omar - May 2020 update
June 3, 2020
As the UK spent another month in quarantine, much of the Tech World seems to have been business as usual. So what’s been happening...
- Zoom has acquired an encryption startup, Keybase, which in my opinion will increase their security credibility. Given the urgency and the time required to build encryption, it would certainly seem the right route to take - acquire as opposed to build from scratch.
- I certainly wasn’t expecting Microsoft to compete with Airtable but I can definitely see a clear motive behind it. I like Airtable’s functionality so i’ll be interested to see what Microsoft Lists has got to offer.
- I truly believe that being a data savvy Startup you can make better decisions and hit your revenue KPIs. Read more
- I sensed this was coming! With the current climate seeing the demand of online shopping rising even further, it seemed only a matter of time before big dogs Facebook and Instagram jumped on board and gave users the opportunity to buy directly through their pages and profiles.
- 43 US states have now implemented the “economic nexus” process since the Supreme Court ruling in June 2019. Unfortunately, SaaS and Internet businesses are not exempt from Nexus and in some states you may need to set up a company before you can even register for sales tax.
- Don’t forget that physical presence Nexus can trigger sales tax if you have an employee or contractor working in the state so our recommendation is always to be prepared before you launch.
If you have any questions or want to learn more about US taxation, reach out to me at omar.faruq@onthegoaccountants.co.uk
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