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…
Did you finally land your first sale on Shopify? If so, congratulations! You are one step closer to your dream of entrepreneurship. Dozens of thoughts might be filling your head, like “Should I charge tax on Shopify?” or “Does Shopify remit sales tax?” Another question that might be lingering relates to getting paid. There can…
Is your ecommerce business growing? If so, you might be experiencing growing pains, particularly in your accounting function. Without the proper bookkeeping for Shopify or your Amazon storefront, you could be generating inaccurate financial statements. This is where an outsourced CFO comes in, infusing accuracy and thoroughness into your accounting function. In this article, we’ll…
Are you running an ecommerce store? Do you understand the proper sales tax bookkeeping for Amazon and Shopify accounts? One of the not-so-fun aspects of running an ecommerce business is sales tax collection. You may find yourself asking, “Does Shopify pay sales tax?” or “Should I charge sales tax on Shopify?” Each ecommerce platform and…
Was your business affected by COVID? Did you continue paying wages and healthcare costs despite a drop in revenue or shutdown orders? If so, you might be entitled to receive a tax credit for wages and healthcare costs that you already paid. Working with an ecommerce CPA, an accountant for Amazon sellers, or a Shopify…
If you’re like most e-commerce business owners, you dread bookkeeping. You probably have countless reasons why it’s last on your to-do list, from taking up too much time to being too complex. However, neglecting your Shopify bookkeeping can have some serious repercussions, like overpaying on your taxes or receiving some unwelcome letters from the IRS. …
If you’re a small business owner trying to minimize your tax liability, you shouldn’t overlook the power of accountable plans. Implementing an accountable plan can save both your business and employees money on payroll taxes. Understanding the basics of an accountable plan, its importance, general setup, and maintenance requirements can give you the information needed…