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 priority…
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…
When you start an ecommerce business, you are probably thinking of which products you want to sell, who your target market is, and how profitable your operations will be. The details of your Shopify or Amazon accounting might not have crossed your mind. This can result in inaccurate and outdated information that you might be…
Business owners are no longer limited to state borders when it comes to selling goods. In fact, global ecommerce is at the forefront of innovation, allowing Shopify sellers to make sales anywhere in the world. However, being a global seller does come with more regulations, especially if you sell in the European Union and the…
Are you an ecommerce seller with a Shopify storefront? If so, it’s important that you understand the Shopify state sales tax collection process to stay in compliance with all state agencies. Shopify released a new sales tax nexus alert designed to help ecommerce sellers understand when they should begin charging sales tax. In this article,…
There has never been a better time to enter the realm of ecommerce. In fact, ecommerce is predicted to grow by over 11% in the next few years. Before you can select the products or services to sell on your platform, you need to make a key decision: your business structure. The right business structure…
Have you noticed the new Shopify sales tax collection alerts in your storefront? Shopify is looking for ways to make sales tax reporting simpler for sellers. One way Shopify is achieving this goal is through a new sales tax nexus alert. This new feature on Shopify can give you a bird’s eye view of your…
Shopify sellers can have a global reach, triggering other taxes, like VAT. If you sell in the European Union, you will need to have the proper VAT controls in place to maintain compliance and ensure accurate reporting. This article covers the specifics of VAT, including when it’s triggered, who it applies to, and how to…