logo
Sovos Partners with Shopify to Automate Sales Tax Filing and Remittance for Merchants

Sovos Partners with Shopify to Automate Sales Tax Filing and Remittance for Merchants

Business Wire3 days ago

ATLANTA--(BUSINESS WIRE)-- Sovos, the always-on compliance company, today announced that it has partnered with Shopify to launch Shopify Tax automated filing, a powerful new feature that automates the preparation, filing and remittance of sales tax returns for Shopify merchants. This feature is now available to eligible merchants in the United States using Shopify Tax.
Sovos' Sales and Use Tax (SUT) Filing solution is integrated with Shopify Tax, offering merchants a more streamlined experience when it comes to managing their sales tax compliance. With automated filing, merchants can greatly reduce the hours spent preparing and filing returns each month, while helping minimize audit risk.
'Sales tax rules and laws are constantly evolving and left unchecked, can create serious and expensive problems for businesses down the road,' said Kevin Akeroyd, CEO, Sovos. 'Shopify, through its partnership with Sovos, will greatly reduce the burden on sellers and allow them to focus on delivering for their customers.'
About Sovos
Sovos is transforming tax compliance from a business requirement to a force for growth. Sovos' flagship product, the Sovos Compliance Cloud platform, enables businesses to identify, determine, and report on every tax obligation across the globe. Sovos processes 16 billion+ transactions per year, helping companies scale their compliance strategy in almost 200 countries.
More than 100,000 customers – including half the Fortune 500 – trust Sovos' tax and regulatory expertise and unparalleled integration with their business applications. Learn more at sovos.com.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Your Complete Guide to Building and Growing a Digital Brand in 2025
Your Complete Guide to Building and Growing a Digital Brand in 2025

Time Business News

time9 hours ago

  • Time Business News

Your Complete Guide to Building and Growing a Digital Brand in 2025

In 2025, the global economy is more digital than ever before. From e-commerce stores and coaching platforms to SaaS startups and affiliate marketing, the online business world offers limitless potential. Starting an online business is no longer reserved for tech geniuses or big corporations—it's a tangible opportunity for students, freelancers, professionals, and aspiring entrepreneurs alike. This guide breaks down everything you need to know to build and grow a successful online business in today's competitive digital environment. The benefits of running an online business today include: Low Startup Costs: You don't need a physical store or a large inventory to begin. You don't need a physical store or a large inventory to begin. Flexibility: Work from anywhere in the world. Work from anywhere in the world. Scalability: With the right tools, your business can grow quickly. With the right tools, your business can grow quickly. Automation: Many business processes can be automated, saving time and increasing efficiency. Many business processes can be automated, saving time and increasing efficiency. Access to Global Customers: Your products and services are not limited by location. The digital marketplace continues to expand, and online consumer behavior shows no sign of slowing down. Before launching, it's important to choose a model that aligns with your skills, budget, and long-term goals. Popular online business models in 2025 include: E-commerce (physical or dropshipping) Digital products (courses, eBooks, templates) Affiliate marketing Freelancing and consulting services Subscription or membership websites Software-as-a-Service (SaaS) Take time to research your target market and business model before diving in. Success begins with understanding who you are serving. A well-defined niche helps you stand out in a crowded online space. Consider: What problems can you solve? Who is your ideal customer? What value do you offer that others don't? Example: Instead of selling 'fitness products,' niche down to 'fitness gear for busy moms' or 'plant-based meal plans for athletes.' A professional online presence is essential. Here's what you'll need: Your website is your online headquarters. Platforms like Shopify, WordPress, or Wix make it easy to set up an e-commerce site or blog. Create a memorable brand identity, including: Business name Logo Brand colors and fonts Brand voice Use keywords (like 'online business,' 'digital marketing,' and 'start an online business') throughout your website content to improve visibility on search engines. Your offerings must solve a real problem or meet a demand. Whether it's a course, a physical product, or a monthly subscription, success depends on value and delivery. Tips: Conduct surveys and market research. Offer free trials or freemium versions. Bundle your products/services to increase average order value. Marketing is critical for growth. Use a combination of organic and paid methods: Blog posts, YouTube videos, podcasts, and social media educate your audience while promoting your brand. Build a subscriber list to send newsletters, promotions, and updates. Tools like Mailchimp or ConvertKit are useful. Platforms like Instagram, TikTok, LinkedIn, and Facebook allow you to connect directly with your target audience. Run ads on Google, Facebook, or Instagram to drive traffic and sales. Getting traffic is great, but conversions are key. Use these tips to increase sales: Offer limited-time promotions or bonuses. Use persuasive copywriting and clear calls to action (CTAs). Include testimonials, reviews, and trust badges. Simplify the checkout process. Add a live chat feature to answer customer questions. An online business must run smoothly to succeed. Focus on: Automate repetitive tasks like email sequences, invoicing, and shipping notifications using tools like Zapier or ActiveCampaign. Provide excellent support through chatbots, FAQs, and prompt email responses. Use dropshipping or third-party logistics (3PL) to handle fulfillment. Beyond your main offering, consider these monetization options: Affiliate marketing: Promote other brands for commission. Sponsored content: Collaborate with brands on content deals. Licensing your content or software. Hosting webinars or paid virtual events. Selling templates, guides, or toolkits. Multiple income streams make your business more stable and profitable. Once you're making consistent income, it's time to scale: Hire a virtual assistant or team to handle daily tasks. Launch new products or services. Expand to international markets. Invest in advanced analytics and advertising. Build partnerships or joint ventures. Focus on sustainability, customer satisfaction, and innovation. Don't forget the business essentials: Register your business with the appropriate government authority. with the appropriate government authority. Set up a business bank account and accounting system. and accounting system. Understand your tax obligations (sales tax, income tax, VAT, etc.). (sales tax, income tax, VAT, etc.). Protect your assets with trademarks, terms of service, and privacy policies. Consult with legal and financial experts as needed. Here are some must-have tools to streamline your journey: Website Builders: WordPress, Wix, Shopify WordPress, Wix, Shopify Email Marketing: Mailchimp, ConvertKit, GetResponse Mailchimp, ConvertKit, GetResponse Design: Canva, Adobe Express Canva, Adobe Express Analytics: Google Analytics, Hotjar Google Analytics, Hotjar Project Management: Trello, Asana, Notion Trello, Asana, Notion Payment Processing: Stripe, PayPal, Square The right tools increase efficiency and professionalism. Avoid these pitfalls: Trying to serve everyone instead of focusing on a niche Launching without testing your offer Neglecting SEO or marketing Underestimating time and effort required Ignoring customer feedback Treat your online business like a real business from day one. Meet Sarah, a graphic designer who launched a digital product store selling Canva templates. Starting with $100, she built a brand, marketed through Instagram Reels, and scaled to $10K/month within one year—all by solving a clear problem for a specific audience. Her story highlights the power of clarity, consistency, and customer-centric thinking in the online world. In the coming years, expect: Greater focus on AI automation and personalization Voice search and smart devices influencing purchasing decisions The rise of digital communities and niche social networks Sustainability and ethical entrepreneurship as major brand values Staying updated with tech and trends will keep you ahead of the curve. Starting and growing an online business in 2025 is more accessible than ever. With the right mindset, tools, and strategies, you can build a brand that offers freedom, income, and impact. Whether you're a student looking to earn, a professional seeking change, or a dreamer with a vision—your digital empire starts with a single step. Take that step today. TIME BUSINESS NEWS

Shopify partners with Coinbase and Stripe in landmark stablecoin deal
Shopify partners with Coinbase and Stripe in landmark stablecoin deal

Yahoo

time9 hours ago

  • Yahoo

Shopify partners with Coinbase and Stripe in landmark stablecoin deal

Big Tech's fever for stablecoins won't stop. The e-commerce giant Shopify announced Thursday that it was rolling out stablecoin payments to all users on its platform later this year in its largest crypto play yet. The publicly traded tech company lets merchants—including vintage clothes sellers, cosmetics businesses, and electronics companies—set up their own online marketplaces. By late June, Shopify will let a select group of users accept payments in USDC, a stablecoin issued by the crypto company Circle, which recently had one of the year's hottest IPOs. 'In our own philosophical framework, we are extremely aligned with everything that crypto stands for,' Tobias Lütke, the CEO of Shopify and a Coinbase board member, said onstage at a Coinbase conference on Thursday. Shopify will then gradually expand access to merchants across its network in the U.S. and Europe before opening up stablecoin payments to every merchant who uses its platform. The e-commerce company worked with Coinbase to develop a payments protocol to handle chargebacks, refunds, and other intricacies of retail payments on Coinbase's blockchain, Base. It also collaborated with fintech giant Stripe, one of Shopify's payments processors, to integrate stablecoins into the e-commerce company's existing software stack. 'I think other payment processors will look at what Shopify is building and be like, 'Holy crap,'' Jesse Pollak, a Coinbase executive who oversees the crypto exchange's wallet and blockchain divisions, told Fortune. Shopify's plunge into crypto comes as stablecoins, or cryptocurrencies pegged to assets like the U.S. dollar, become one of the buzziest sectors outside of AI in Silicon Valley. Rather than wait days for a bank wire to clear, advocates say that stablecoins reduce cross-border transfer fees and speed up transactions. Tech giants like Meta, Apple, X, Airbnb, and Google have taken notice and have all been in talks with crypto companies to explore stablecoin integrations. Moreover, the Senate is poised to pass legislation that regulates the crypto assets. And Stripe has acquired two crypto startups in the past year as it looks to carve out its own crypto payments strategy. 'This will be the beginning of a lot of dominoes falling,' Pollak, the Coinbase executive, told Fortune, in reference to Shopify's own stablecoin play. That being said, this isn't the first time the publicly traded e-commerce company has dipped its toes into crypto. Shopify, headquartered in Ottawa, has long let third-party software developers like and Strike provide plug-ins for merchants to accept cryptocurrencies like Bitcoin, Ethereum, and even USDC for payment. However, these integrations came from developers outside Shopify and were opt-in, meaning that merchants had to explicitly choose to integrate crypto payments into their online marketplaces. Shopify's most recent stablecoin play is opt-out. Merchants will have to adjust their settings to not accept payments in USDC, a Coinbase spokesperson told Fortune. Moreover, the payments protocol Coinbase developed with Shopify is the product of executives and developers from both companies collaborating over the past nine months, Pollak said. Shopify will give merchants who accept USDC up to 0.5% cash back in the U.S. and other countries, and it plans to also give customers who decide to pay with USDC an unspecified percentage of cash back later this year. This story was originally featured on

Brokers Suggest Investing in Shopify (SHOP): Read This Before Placing a Bet
Brokers Suggest Investing in Shopify (SHOP): Read This Before Placing a Bet

Yahoo

time15 hours ago

  • Yahoo

Brokers Suggest Investing in Shopify (SHOP): Read This Before Placing a Bet

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Shopify (SHOP) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Shopify currently has an average brokerage recommendation (ABR) of 1.76, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 45 brokerage firms. An ABR of 1.76 approximates between Strong Buy and Buy. Of the 45 recommendations that derive the current ABR, 28 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 62.2% and 4.4% of all recommendations. Check price target & stock forecast for Shopify here>>> The ABR suggests buying Shopify, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation. Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations. In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement. Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision. Although both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether. Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5. Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide. In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research. Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns. There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices. Looking at the earnings estimate revisions for Shopify, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $1.40. Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Shopify. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Shopify. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Shopify Inc. (SHOP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store