How to Do Your Taxes as an Amazon Seller

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Күн бұрын

Пікірлер: 35

@kanwaljeetsingh4783 3 ай бұрын

Thanks so much. This was quite a useful video. If i open a single member LLC for doing amazon FBA in US as a non-resident alien (my domicile is in India) , what kind of taxes i have to report and pay in US ? I've been trying to glean information on this topic. Sales Tax : Report NIL sales Tax each quarter since amazon is collecting it on seller's behalf but who do i report it to and how ? State Tax: To be Paid annually to state in which single member LLC in incorporated. how do i report and pay it ? Federal Tax : Paid annually to IRS each year before 15th of April. which form numbers i must use for this purpose ? Finally since US and India have DTAA ( dual tax avoidance agreement ), Should i pay taxes in US or India ? Please help me understand this as this is quite confusing. Thanks in advance.

@luisfuneral 12 күн бұрын

Hi, I am super newbie in the Amazon FBA space and I'm just trying to conceptualize as to how taxes are filed. The topic of tax returns seems very overwhelming but I'm glad there are people like you who address this topic. Wish me luck on my entrepreneurial journey. I'll sign up with Tall Oaks when I'm ready to start my Amazon store. I would have ended up hiring a CPA who isn't familiar with Amazon if it wasn't for this video. Thank you!

@TheTradeWaveLLC 4 ай бұрын

Hi I have a question, if I have a California business but am currently living in FL do I need a resellers permit in Florida or in California. I do plan on moving back to CA eventually but for the time being I’m in FL

@swjo 9 ай бұрын

Very informative! This was fantastic and is a topic no one ever wants to address. Thank You both

@1lifeonearth 7 ай бұрын

Thank you so much, I really needed the info about cash and accrual method. god this business tax stuff is to hard to do correctly! I made an LLC for my fba business, and im wondering if people are LLC's and then elect to be taxed as an S-Corp?.. is that the right thing to do to save money? hopefully i can figure this all out

@MatthewKlyce 9 ай бұрын

what about paying quarterly sales tax? I live in California and I get an email from the CDTFA every quarter about my sales tax

@geovanrich4916 9 ай бұрын

You don't owe any sales tax. Amazon collects the sales tax for you. You still file quarterly with the CDTFA but the total you owe always is $0

@Clayton.Y 9 ай бұрын

Signed up with Tall Oaks last night for tax help

@diegorabelo5821 6 ай бұрын

How did that go?

@pauliegetthat 9 ай бұрын

Awesome setting this up with how touchy it is giving advice on this stuff 🙏

@emmanuelfleurine121 6 ай бұрын

very informative. I should have watch 3 month ago.

@vanessagalleguillos-zv5kl 8 ай бұрын

I’m confused it’s best to start off with an LLC in Cali ? Because he said two different things 😮

@Natedavis4444 7 ай бұрын

If I made 3k profit on Amazon do I need to report this?

@ludmillagayle4099 8 ай бұрын

Very informative! I will listen to it over.

@FieldsofProfit 7 ай бұрын

Glad it was helpful!

@russellgray3303 5 ай бұрын

I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!

@FieldsofProfit 5 ай бұрын

Thanks for the support!

@percivalL8685 9 ай бұрын

Sorry. Did he say to start as an LLC in California (around 2:33)?

@FieldsofProfit 9 ай бұрын

He said to skip it since it's so expensive, wait until you really are all in on this biz

@percivalL8685 9 ай бұрын

@@FieldsofProfit OK, that's what I thought. Thanks for clarifying sir, and thanks for all your content!

@protectbulldogskennels 9 ай бұрын

Can we open an LLC in another state while running the business from California?

@JDMaple85 7 ай бұрын

Good stuff. Thanks for the vid.

@DiegoGarcia-on2sd 7 ай бұрын

I’m currently living in Cali should I start with an LLC?

@luisfuneral 12 күн бұрын

Yes, there are potential consequences if you start selling on Amazon without an LLC. It's just better to dump the $800 in taxes than to regret not having an LLC later down the line.