Do you frequently travel to potential customers, to suppliers, or even to a warehouse? If so, are you currently reimbursing yourself for mileage? Although a majority of ecommerce operations are online, there are still reimbursable opportunities for travel to and from certain locations. Reimbursing yourself for these expenses not only helps lower your business’s…
Even if you just opened your ecommerce business, it’s important to have an exit strategy. For most business owners, this involves selling. There are a few different ways you can sell your business, each of which comes with different tax scenarios. Whether you are finally ready to collect on the years of hard work…
Are you interested in starting your own ecommerce business? How about finally starting to see growth in your ecommerce company after weeks, months, or years of hard work? Regardless of where you’re at in your ecommerce journey, it’s important to understand how to set yourself up for long-term success. One of the fundamentals…
Managing an ecommerce business goes beyond just selling products. In fact, the bookkeeping and accounting of your business will be a determining factor in the success of your organization. How could your business grow when you know which products are performing the best? What about the flexibility you have when you are able to increase…
There’s no doubt that we are living in the Digital Age. Meetings are virtual, ecommerce continues to grow, and remote work is the new norm. Companies are changing the way they operate, infusing technology into most aspects of daily operations. This is why it should come as no surprise that virtual accounting is gaining traction,…
Accounting for the typical mom-and-pop shop is boring, but this isn’t always the case with Amazon or Shopify accounting, which excites us accountants. Without the proper oversight in your Amazon accounting function, you could be left with stagnant sales, inaccurate tax filings, and low profitability. In this article, we’ll talk about the current challenges Amazon…
So, you’ve decided to start your own ecommerce business selling on Amazon, Shopify, and other platforms. Your day-to-day tasks might include ordering inventory, managing items on hand, and driving traffic to your platforms. You realize that accounting will come into play eventually, maybe around tax time, so you push it to the bottom of your…
Unless you have a background in accounting, it’s always best to have an expert oversee your financials and accounting system. After all, you already most likely have an endless to-do list, from reordering inventory and managing employees to finding new growth strategies and products to sell. Accounting might be at the tail-end of your…
Are you trying to save money on your next tax bill? With year-end quickly approaching, now is the time to revisit your tax situation. Maybe your Shopify storefront was more profitable this year or you finally decided to open your Amazon FBA business. Even if you haven’t ventured into the ecommerce realm, you should still…
Throughout the years, there have been numerous unconventional sales tax proposals. After all, Florida generates a majority of their revenue from sales tax, as the state has no income tax. The latest proposals, outlined in Senate Bill 352 and House Bill 369, look to implement a sales tax holiday, having potential implications for ecommerce sellers…