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@mtahir-2816
@mtahir-2816 9 күн бұрын
Hello, nice content. I have a question and I hope you can help. I have a LLC in the UAE and an amazon account in the UAE as well. I'm trying to expand to the US and try open an Amazon US account over my LLC in the UAE. Do you see any issues with this structure? and do I have to pay Taxes except sales taxes? I'm intending to use the Amazon FBA, so the goods will be stored in the amazon warehouses.
@joebyron2984
@joebyron2984 12 күн бұрын
Although the video is very good I still feel a bit lost, just opened my own eshop and I’m trying to have all my ducks in a row and don’t mess up. Deff will rewatch
@aryanasmith4426
@aryanasmith4426 20 күн бұрын
Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This KZbin channel is very informative and effective.
@ahsanmehdinaqvi
@ahsanmehdinaqvi Ай бұрын
I am bit confuse here many CPAs on youtube told that non-resident with inventory in US Amazon or with 3pl service provider does not count trigger ECI since these both inventory locations are not our dedicated contractors/agent, they do not work for is exclusively. Same theory goes even if we are using US suppliers for dropshipping.
@LucidBoxFilms
@LucidBoxFilms Ай бұрын
I agree. We need an answer.
@ecomaccountants
@ecomaccountants 11 күн бұрын
Unfortunately the guidance is not 100% clear in this space. It’s not uncommon for accounting firms to differ in terms of application of tax law.
@erictan9274
@erictan9274 Ай бұрын
What if I transfer the profit from my Disregard entity bank to my personal bank account in United States? Does it has to be reported ?
@ecomaccountants
@ecomaccountants 11 күн бұрын
No!
@aryanasmith4426
@aryanasmith4426 Ай бұрын
Usually, I never comment on videos, but your video is so convincing that I am unable to stop myself from doing something about it. You’re doing a great job Man, Keep it up.
@ecomaccountants
@ecomaccountants 23 күн бұрын
Thank you!!
@stefanocicchinitravelfoodi6634
@stefanocicchinitravelfoodi6634 2 ай бұрын
I would like to close my company in Italy, and since I live in the Philippines for more than 6 months a year, I would like to take tax residency in the Philippines, which has a territorial taxation system. I plan to open an LLC in the USA in Delaware or Wyoming, etc., to benefit from almost 0% taxation and then pay dividends into my Revolut account with tax residency in the Philippines. My clients are mainly in Italy and the USA. Can I do this? Will I only have to pay taxes to the LLC in this case? I sell digital products online!
@ecomaccountants
@ecomaccountants 11 күн бұрын
This seems to be a pretty technical question. Consider booking a consultation call with our firm or another that specializes in international tax.
@redcpu1952
@redcpu1952 2 ай бұрын
Does using 3pls (auto ds ) count as having inventory in us
@ryanmahmudsanvy
@ryanmahmudsanvy Ай бұрын
No
@ecomaccountants
@ecomaccountants 11 күн бұрын
It is our firms position that this would count as having inventory in the US for purposes of ECI
@eso1666
@eso1666 2 ай бұрын
I still don’t understand! Do I pay sales tax in Florida for a sale that I made to a customer in Georgia and what if I pass the threshold for Georgia. Do I pay sales taxes for Georgia as economic nexus and to Florida as a Physical nexus!!!! Doubles sales taxes?!!!
@jlm3744
@jlm3744 2 ай бұрын
I wouldn’t recommend moving to Puerto Rico just for the Act60 tax benefits. There’s a ton of controversy surrounding them, and they are getting very strict with the rules to be eligible to be on Act60. Local Puerto Ricans hate it because its causing gentrification to the island with Non-Puerto Rican Americans moving in with no relation to the island and with more buying power buying up entire neighborhoods, public areas, and historical sites then going on to turn them all into private resorts, vacation homes, and Airbnb businesses. Because of all this a movement called the GringoGoHome movement has been growing big time and there have been many protests throughout the island to have Act60 removed. Also, many financial gurus and economists have said that Puerto Ricos Act60 is very likely to be taken down in the near future because its actually doing more harm to both Puerto Rico and the US economies. Channels like the Wealthy Expat and Nomad Capitalist have talked about it multiple times and explain why it’s a no go, and there’s better and safer places to move than to a US territory to follow a bunch of strict rules just so you can get away with paying little taxes. Congress has been demanding the Puerto Rican government take down Act60 because it’s losing the US billions of tax dollars and many people who are on Act60 are using it as a tax loophole to cheat paying taxes on the island by pretending to live there. Already over 100 people have been caught and arrested, and many more are under investigation by the IRS. The only reason Act60 is still up is because the current corrupt governor Pedro Pierluisi and his party are using it as leverage to pressure congress to make the island the 51st state. And they are open about this plan, when congress ordered them to take it down, Pierluisi said he’ll only do it if they make the island a state first. This year is the elections on the island and their party has been losing a ton of support because of all the corruption being exposed, and all the other parties are forming an alliance against them. If their party loses the governorship and they don’t get the majority in both house legislatures, then definitely Act60 is dead. All in all, I’m not saying Puerto Rico sucks, I just don’t recommend moving your entire life there just because you want to pay less taxes, when there’s a ton of issues going on in the island. You should pray no Puerto Rican influencers see this clip, if they do, your name is going to be blasted all over social media as someone who is promoting colonization, gentrification, and displacement of Puerto Ricans from their homeland.
@politanene
@politanene 2 ай бұрын
SO.... as humble P.O.D. hustle, that doesn't live in USA, foreign citizen (no LLC), but use companies like Printify, to sell on U.S. platforms, do I need to pay taxes in US? can't find the answer. I appreciate in advance your reply,. Thanks
@ecomaccountants
@ecomaccountants 11 күн бұрын
If you are a US citizen (even one living in the US) you would be subject to US Income Taxes.
@jadeer1786
@jadeer1786 2 ай бұрын
What about Wyoming or Alaska based llc ?
@ecomaccountants
@ecomaccountants 11 күн бұрын
The state for which you entity was formed does not make a difference from an income tax standpoint. The only items that matter are the items highlighted in the video!
@Hamon0192
@Hamon0192 3 ай бұрын
Hi, I had a question. Im based in the Netherlands and want to start an LLC in the US with the first method u used in this video so the "second tax structure". But I wanted to know what like the exact steps are that I am supposed to take legally so also how to get an EIN number and if that is required, so if you could explain or maybe have a link to a site that explains it all. Thank you!
@ecomaccountants
@ecomaccountants 11 күн бұрын
Hire a lawyer - this would be the simplest solution. It may cost a little extra - but it will cost much less headache!
@Ana-pn8gt
@Ana-pn8gt 3 ай бұрын
Thank you soooo much! ⭐
@Ana-pn8gt
@Ana-pn8gt 3 ай бұрын
Thank you very much, it's an obvious question no one's talking about in those overhyped print-on-demand and affiliate marketing videos. Was looking for such clear video and finally found yours. Does affiliate marketing business (when you just advertising another company's product, but do not own the product itself) owner, living in Europe, have to pay any taxes to U.S., while promoting U.S. company's products? I would say it also is a case of just having a foreign exception certificate and that's it. Am I right? Thank you a lot ❤
@ecomaccountants
@ecomaccountants 11 күн бұрын
It depends on how the company compensates you! If the customer is buying directly from you (you process the credit card payment) then you may need to set up a sales tax process and potentially an income tax structure. If you’re simply receiving a commission for each purpose then you don't have to worry about sales tax or income tax!
@Ana-pn8gt
@Ana-pn8gt 11 күн бұрын
@@ecomaccountants wow, thank you for the reply :)
@ChaseGreene-dd1sw
@ChaseGreene-dd1sw 4 ай бұрын
I recently had a great experience with Carolina Dozer! Way to go guys 👍🏻
@he9265
@he9265 4 ай бұрын
Your video was great. However, there is still something I do not understand. I would appreciate it if you could help me. I am currently a partner in a multimember LLC established in Florida. Our company is physically located outside the US and we sell online through Amazon and Shopify. The Amazon platform has collected sales taxes in all states for us since our first sale and paid them to those states for us, but shopify has not started collecting sales tax because we still have not reached enough sales by following the threshold values according to the states. For this reason, since we did not have any nexus, we only received a certificate of registration from the state of Florida where we are established. In this context; In the state where we are established, we generated a total revenue of 2000 dollars in a total of 5 sales. For 1700 dollars, which constitutes 4 of this, amazon itself collected approximately 50 dollars of sales tax and paid it to the state on our behalf. Since we had 1 sale of 300 dollars from Shopify,we did not collect sales tax because we were below the threshold value. Now how will I enter the values of "gross sales", "exempt sales", "taxable amount" and "tax due" when filling out the online form during the sales tax filling. If you can help me with this example, I will fully understand the sales tax issue. Thank you very much in advance
@ecomaccountants
@ecomaccountants 3 ай бұрын
I believe that your question is related to the Florida Sales Tax return? The technical answer is that your Florida GROSS SALES should be gross sales for Amazon + Shopify. The EXEMPT SALES should be the total sales from AMAZON. The net sales should be your D2C (Shopify Only) sales. It also sounds like you are registered in the state of Florida, so in Shopify you should TOGGLE ON Sales Tax collection in Florida so that Florida customers are paying sales taxes on your shopify orders. Hope this helps!
@manobill162
@manobill162 4 ай бұрын
hey, I never seen this information about the 31 days before, instead this is what I found: Substantial presence test You satisfy the substantial presence test, and are therefore treated as a resident alien for a calendar year, if you have been physically present in the United States on at least: 1. 31 days during the current year, and 2. 183 days during the 3-year period that includes the current year and the 2 years immediately preceding the current year. To satisfy the 183-day requirement, count: 2.1 All of the days you were present in the current year, 2.2 One-third of the days you were present in the first year before the current year, and 2.3 One-sixth of the days you were present in the second year before the current year.
@ecomaccountants
@ecomaccountants 3 ай бұрын
Hey - were doing our best to simplify the rules however I do confirm your finding is accurate.
@lifeon2wheels1990
@lifeon2wheels1990 5 ай бұрын
if my physical nexus is Texas, and will definitely not be in the $3m threshhold at the beginning or even the 200. Does it mean I only pay sales tax in Texas for those customers who are from Texas? But still collect sales tax for all customers?
@ecomaccountants
@ecomaccountants 3 ай бұрын
No. To further clarify, you should ALWAYS register for sales taxes before collecting sales taxes. In your example, you should register and collect from Texas ONLY. In all other states you should have Sales Taxes turned off.
@brettold6912
@brettold6912 5 ай бұрын
Hey awesome content, I just want to clarify does that mean sales tax does not apply to foreigners and simply we just need to file the annual 5472 and have separate business bank account etc
@ecomaccountants
@ecomaccountants 3 ай бұрын
Sales Tax is a completely separate beast! Check out our Sales Tax video for more info. Physical Nexus won't apply to you as a foreigner HOWEVER Economic Nexus will.
@lauri7855
@lauri7855 6 ай бұрын
Great video, what about sales tax? is it the same for people who live in Europe or do we in Europe have to pay sales tax after the certain state's threshold?
@ecomaccountants
@ecomaccountants 3 ай бұрын
Sales Tax is a completely separate beast! Check out our Sales Tax video for more info. Physical Nexus won't apply to you as a foreigner HOWEVER Economic Nexus will.
@russellgray3303
@russellgray3303 6 ай бұрын
I extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.
@aryanasmith4426
@aryanasmith4426 6 ай бұрын
Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This KZbin channel is very informative and effective.
@ecomaccountants
@ecomaccountants 23 күн бұрын
Hey thank you!! .
@jonathan.kizuka
@jonathan.kizuka 6 ай бұрын
I just bought your course! Super valuable. Still diving in, but quick Q about piercing the veil Can I use the Amex membership points from my business credit card towards anything? or is it strictly for business what I choose to redeem my points for?
@ecomaccountants
@ecomaccountants 3 ай бұрын
A bit of a grey area. However we typically tell our clients its okay to use your AMEX POINTS for personal purchases, even if the points are generated by the business. This may not be a popular opinion with attorneys - but its our firms position.
@user-hi7wj7ww1v
@user-hi7wj7ww1v 7 ай бұрын
I am having such a hard time understanding QBO and I know it supposed to be easy, i have my store on shopify, still small business and I did the integration with shopify but to be honest I dont know if thats better or worse cause now is even more confusing. I am stress about this as I want to do things right but as a small business just starting resources are limited and cant afford an accountant!
@ecomaccountants
@ecomaccountants 3 ай бұрын
As mentioned in the video - if your sales are below $250K then you can probably get away with doing your own P&L SAFELY outside of QBO using a sheet or a VA. Dont let accounting stress you out - just FOCUS ON GROWTH and eventually you'll have the budget to outsource this work
@ezpondering
@ezpondering 7 ай бұрын
This video is SO clear, thank you!!! I am a Print on Demand Shopify Seller. I live in Florida. By the end of this year I will have about 4k in shopify sales, shipped from about 3 different PODs (NY, CA, MI). Should I register in Florida before the end of this year and pay sales tax on my Florida sales only? I DO file income tax for EComm because of Etsy... TIA : )
@ZyneAi-X
@ZyneAi-X 4 ай бұрын
How do you do print on demain can you guide me please
@ecomaccountants
@ecomaccountants 3 ай бұрын
In your scenario, we would suggest registering in FLORIDA ONLY. Be sure to check in with your POD supplier though, because they may be charging you sales tax for your sales OUTSIDE OF FLORIDA and you may have an opportunity to gain some margin by getting TAX EXEMPT (RESELLER CERTIFICATE) status in those other states so that you no longer have to pay sales tax to your POD Supplier
@MeaningfulTeesShop
@MeaningfulTeesShop 3 ай бұрын
@@ecomaccountants Thank you so much! I really appreciate your feedback! : )
@oscarpowers637
@oscarpowers637 7 ай бұрын
promo sm 😠
@flicked6900
@flicked6900 7 ай бұрын
Dude watch the video before posting
@ecomaccountants
@ecomaccountants 7 ай бұрын
Hey - are you noticing any issues with this video?
@perperuna6773
@perperuna6773 8 ай бұрын
Hi. But If I am doing print on demand and POD company is printing my tshirts in USA, it does not render me as ECI, because warehouse is owned by POD company. Right?
@ecomaccountants
@ecomaccountants 3 ай бұрын
@@MB-mh4cz we agree with your answer entirely! Its not your inventory! Also love the part regarding the resale certificates. Our firm is planning to release a video on this topic soon.
@perperuna6773
@perperuna6773 8 ай бұрын
How can I just ignore sales treshold if I am not over xxxx€ in revenue ?
@ecomaccountants
@ecomaccountants 3 ай бұрын
This is definitely not a fully technical answer, but a solution for entrepreneurs in their beginning stages that are trying to grow and not have to spend alot of money on accounting services or advice
@Rihla_a-z
@Rihla_a-z 8 ай бұрын
i feel like he made this complicated on purpose! "our clients. our clients" the fact that he keeps saying that is basically asking people to crawel to them and seek their help, when it reality it doesnt even need to be this complicated.
@ecomaccountants
@ecomaccountants 7 ай бұрын
Hi Arii - it is very very complicated! We're doing our best to simplify these concepts for you to be able to understand them clearly. Please don't sleep on this as as e-commerce entrepreneur because it can be a costly mistake!
@whitewaterinsurance8403
@whitewaterinsurance8403 9 ай бұрын
Best video I have found. Thank you for the info!
@MohammadUsamadiaries
@MohammadUsamadiaries 9 ай бұрын
i make easily this type of video i am video editor
@srishtiverma705
@srishtiverma705 9 ай бұрын
hey buddy...... im a video editor. and i saw your reels so if you want a editor so give me chance. i can edit your reels videos more creatively. thanks
@davegreenberg002
@davegreenberg002 9 ай бұрын
Wow, one of the best ecomm-related videos I have seen in a while. Great explanation and info. Much appreciated, keep up the great work!
@ecomaccountants
@ecomaccountants 3 ай бұрын
Happy to help sir!
@aryanasmith4426
@aryanasmith4426 9 ай бұрын
Nice video! Thanks for sharing this video with us. I like the video and it is very helpful for me. Thanks for sharing.
@zillionz
@zillionz 10 ай бұрын
Great video, clearly explained everything... I went through about 10 other videos before this (some which were more than double the length of this one) and I still had unanswered questions after it... your production explained everything I needed to know in a clear, logical and step-wise manner.
@ecomaccountants
@ecomaccountants 3 ай бұрын
Boom baby. Happy to help.
@mhowie76
@mhowie76 11 ай бұрын
you earned my sub, thanks!
@ecomaccountants
@ecomaccountants 3 ай бұрын
Hope to continue bringing value to you
@noontimewhale
@noontimewhale Жыл бұрын
Awesome!
@CarolinaDozer
@CarolinaDozer Жыл бұрын
Was a great pleasure filming with you, Chris!
@evanjohansen
@evanjohansen Жыл бұрын
Let’s goooo🎉
@gina8719
@gina8719 Жыл бұрын
This was extremely helpful. Thank you
@MarcellusI7
@MarcellusI7 Жыл бұрын
No one cares..
@RayaFlora
@RayaFlora Жыл бұрын
Thank you for the video!!! We learn a lot with you! Thank you!
@kevincharles5904
@kevincharles5904 Жыл бұрын
This doesn’t apply to non us citizens doing Shopify out of the U.S correct?
@ecomaccountants
@ecomaccountants 3 ай бұрын
This does apply to NonUS citizens if you are shipping into the US. Especially if you have a US entity (LLC or Corp)
@IchiroCapital
@IchiroCapital Жыл бұрын
Thanks man, love the value!
@RaiseTheWoofHTX
@RaiseTheWoofHTX Жыл бұрын
Love this! I’m a client of Louie’s and his consulting has changed my life. So grateful for him and the Unleashed team! Thank you for sharing this.
@Bgomez88
@Bgomez88 Жыл бұрын
Yay! Let’s go Louie and Michelle
@diamondaton8455
@diamondaton8455 Жыл бұрын
"Promo sm" 🙈
@meinaqu2657
@meinaqu2657 Жыл бұрын
The United States has over 50 states. Do I need to apply for a sales tax ID in each state?
@ecomaccountants
@ecomaccountants 3 ай бұрын
Unfortunately yes, however be sure to watch the video in its entirety because you may not need all 50 states. You may not even need anywhere close to it.