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!
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
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
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.
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.
![State of Flex Webinar [Dec 2024]](http://i.ytimg.com/vi/z07exBuGUs0/mqdefault.jpg)
Very informative! This was fantastic and is a topic no one ever wants to address. Thank You both
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!
Awesome setting this up with how touchy it is giving advice on this stuff 🙏
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
I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
Thanks for the support!
Very informative! I will listen to it over.
Glad it was helpful!
very informative. I should have watch 3 month ago.
Sorry. Did he say to start as an LLC in California (around 2:33)?
He said to skip it since it's so expensive, wait until you really are all in on this biz
@@FieldsofProfit OK, that's what I thought. Thanks for clarifying sir, and thanks for all your content!
Can we open an LLC in another state while running the business from California?
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
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.
Signed up with Tall Oaks last night for tax help
How did that go?
what about paying quarterly sales tax? I live in California and I get an email from the CDTFA every quarter about my sales tax
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
Good stuff. Thanks for the vid.
Much needed info. Thank you🙏🙏
Glad it was useful!
I’m confused it’s best to start off with an LLC in Cali ? Because he said two different things 😮
In michigan its 2000
Lots of good info
Glad it was helpful!
Great info
I’m currently living in Cali should I start with an LLC?
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.
If I made 3k profit on Amazon do I need to report this?
All hail the lord Chris!
Lol for real
Good video. Probably helpful for USA sellers but definetly not for European members.