I just filed my FBN/DBA. Registered for my sellers permit, EIN to open a business bank account. I told my self that i want to learn this from the ground up. Have that foundation. Legally run even my FBA bushiness and be smart about moving forward with it. Everything from how to pay your tax as an online seller. I have learned there's a lot involved and you don't want to be that person in the end caught with your pants down. That is where i feel a lot of people don't think about and don't get organized and prepared to later prevent a headache and surprise. That could end up costing you a lot of money at tax time if you don't organize your self and are prepared. That would be one BIG reason people get discouraged and leave behind something you could be successful in if you had just followed easy steps and kept proper documentation. A lot of people don't talk about it and make it sound like you should just create an AMZ seller account and easy peasy. Well I say if you're a beginner, start there.
Man, only halfway through this video but it's already helped understand the path I'm about to pave. Thank you SO much for this and the rest of your videos.
Shout out to Chris and Tall Oak, they took care of my state tax problem from being almost late and also relieving everything stress related about taxes for me and my business (i hate and try to avoid tax stuff as much as possible haha)
@@FieldsofProfit appreciate it. Amazing how I had almost the same questions and spending time searching and reading online, great value for all of us, now I can use that time to source.
so if it was open S Corp how can we close that up? please really I was advised and helped to open by my Tax Advisor that was helping me with my bookkeeping. So big mistake that I did not know.
Hey fields of profit, when you are talking about entering in $0 about 17 minutes in. Are you referring to the excise use tax that the state in which you have your reseller permit is requiring you to report quarterly?
Should I register for sales tax in all 30 states where Amazon stores my goods or only in the state where I am registered company? Thank you for great video!
I want to ask if we take your speed coaching course to improve our business how much it cost. Will it also be included i. Tax deductable. How much is it? Since we are paying from our pocket will we get reimbursed from taxes.
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Get my direct coaching to build a 7-figure Amazon business: lightspeedfba.com/
Best person on RUclips giving information for the Amazon sellers salute soldier 👍🏻
Appreciate ya!
I just filed my FBN/DBA. Registered for my sellers permit, EIN to open a business bank account. I told my self that i want to learn this from the ground up. Have that foundation. Legally run even my FBA bushiness and be smart about moving forward with it. Everything from how to pay your tax as an online seller. I have learned there's a lot involved and you don't want to be that person in the end caught with your pants down. That is where i feel a lot of people don't think about and don't get organized and prepared to later prevent a headache and surprise. That could end up costing you a lot of money at tax time if you don't organize your self and are prepared. That would be one BIG reason people get discouraged and leave behind something you could be successful in if you had just followed easy steps and kept proper documentation. A lot of people don't talk about it and make it sound like you should just create an AMZ seller account and easy peasy. Well I say if you're a beginner, start there.
Awesome content. Thanks for introducing Tall Oak. These specialized accounting companies are really rare.
For sure, glad you liked the vid
Thanks, Chris! Knowing how bookkeeping and taxes work will definitely lead your business to success!
Man, only halfway through this video but it's already helped understand the path I'm about to pave. Thank you SO much for this and the rest of your videos.
Glad it helped!
I am clueless on taxes and need someone to help me. I reaching out to Chris and his team today. Thank you Fields of Profit for doing this discussion.
This info isn’t talked about as much so thank you for covering it!
Shout out to Chris and Tall Oak, they took care of my state tax problem from being almost late and also relieving everything stress related about taxes for me and my business (i hate and try to avoid tax stuff as much as possible haha)
Hahahahhahhah?
@@sahhilmalhi hahaha!?
@@Brevfba hahahaha?
@@sahhilmalhi hahahaha!!!
This video is super helpful!
Well needed video
This is a fantastic video. It's clear and easy to understand your explanations. Thank you for providing this information.
Glad it was helpful!
CP is the goat
Facts
Very informative thank you brotha.
W
Loving all the videos great content! I do OA on amazon canada been doing well, can't wait to jump into US market way more volume and opportunity!
Awesome stuff, keep it up!
Thanks immensely, very helpful
This was really good information. Thank you
Noob question... Are returns already deducted from my 1099k?
Amazing video
Thanks for this content. Couldn’t find the spreadsheet Chris mentioned to follow expenses. Would you share it?
Thanks for pointing that out!! Should be in the description now
@@FieldsofProfit appreciate it. Amazing how I had almost the same questions and spending time searching and reading online, great value for all of us, now I can use that time to source.
so if it was open S Corp how can we close that up? please really I was advised and helped to open by my Tax Advisor that was helping me with my bookkeeping. So big mistake that I did not know.
great video
Thank you
Remember yo always ask your accountant about how you should report your cash back😁
nahhh just got rick rolled
if i netted 19k profit for the year. how much do you think i would owe in taxes
What ways to Re-Invest all the profit and make 0% income tax ..?
Hey fields of profit, when you are talking about entering in $0 about 17 minutes in. Are you referring to the excise use tax that the state in which you have your reseller permit is requiring you to report quarterly?
awesome
Paul is 💯
Should I register for sales tax in all 30 states where Amazon stores my goods or only in the state where I am registered company? Thank you for great video!
I want to ask if we take your speed coaching course to improve our business how much it cost. Will it also be included i. Tax deductable. How much is it? Since we are paying from our pocket will we get reimbursed from taxes.
To start off my reselling journey do u recommend getting an llc u think it’s necessary it’s expensive in California
What if the address of your llc is your primary residence, does the llc protect that?
Can I deduct miles??
I dont see any spreadsheet link. Please share
Do I need to have at least 500k in sales in order to use their service?
Not that I know of
I have inventory lab right now but because I followed everyones advice. But why not use seller central reports?
Seller Central doesn't store your costs so you need a 3P tool to do so