Dropshipping & Taxes: The Ecommerce Accountant Explains ALL

Explains ALL!
Gives one example of how tax works
Plugs Academy

do you help non us residents start ecom?

Thank you for sharing this information.

How does one who haven't even started yet but ready and rearing to go or someone who not making 30k monthly work with you? How does someone like that gets assistance from you, or its a case you don't really grow with beginners but someone who is already well established and looking to scale even larger.

What if your physical presence is in Puerto Rico, and you're making sales on the mainland. Do you have to pay sales tax in each state where you make a sale? Federal Tax?

Thank you!!

Great video.

Chris is the GOAT

Thanks for the video, am I able to deduct shipping costs if buyer paid? or only free shipping? The IRS considers shipping as
income, but it's not profit I get so, that's why I'm asking.

Y'all talk to much came back 1yrs later you still not really talking about filing taxes.. this is just talking about deductions

Is it after $100k that you turn the tax button on to start charging taxes for futur sales in New York or do you still have to pay sales taxes for the existing 100k you already made ?

Where can I find the UK equivalent of this accountant? Great work guys.

Good video. How much profit from each sale do you recommend saving per sale, especially if your profit margins are less than 50%? Like would 1/3 profit of the profit from each sale be a reasonable amount to put aside? Thanks

So Even though I set up an LLC for an e-commerce clothing company I can do all of my eBay sales and other reselling through the same business. What about a media company?

Where is the link to the "ecom tax academy" please?..

biggie n tupac of the e comerce

Do you need a re-seller permit for every state you sell in? or just the state your business address is in? Plus the state of the drop-shippers warehouse? For example, if I was in california, but my drop shipper has a warehouse in ohio, and I sell to every state in america, would I need a reseller permit in california and ohio and the other states too?? Thanks

Can you recommend how to find a ecommerce tax person? I'm in VA. Thinking of going i to dropshipping

I didnt learn much

How do I claim the double tax collected if I'm not exempt but the platform collects

Happy the S corp filing for LLC was mentioned.

Awesome job guys! I SOOO agree with Scott, so much bs everywhere and no concise to the point answers. Would love to see more tax/accounting videos!

So what if I live in Europe and I'm dropshipping into the US. How does the sales tax work? As far as I know I don't have to collect sales tax as a non US citizen

Hi where do I buy the $95 course from Cris Rivera for businesses below $50k, Please

Hmmmm not it sis

💚💚💚

aren't chargebacks reduced from the next payout? What's the big deal?

Great discussion, thanks for sharing your knowledge!

great video mane!

Hey if your doing a seasonal one product dropshiping store and you want to close it will it affect your taxes or llc, do I need to take my store name off the llc ???

Hello! I am dropshipping, and I am located in Illinois while my supplier is in china. To collect tax, do I need to register a sales tax id with every single state even though I am only in Illinois? I am just confused on who I am able to charge sales tax on or if I even need to.

You could use a mic splitter though

IS your first year of dropshipping tax free? and how do you measure your the start -finish of your first year? Is it from the date you filed your LLC? Thanks

Thank you

why you passing the mic like its a spliff

Is it okay to not charge sales tax on my shopify store?

Do you need to register as a business and get a seller's permit and charge sales tax in order to drop ship?

is this jesse pinkman?

Still an underrated video

Questions:
1) if the dropshipping company fulfilling on my orders and for Print On Demand only (no inventory), do I need to charge sales tax in those states the fulfillment center is doing business in?
2) Do i need a state tax ID for CA technically? Can I just add tax rate in Shopify instead for CA?

I’m 13 and am making around 3-8k profit a month but I have to pay tax because I have to use my dads account

next time buy more microphone

If it isn't already, it should be in your podcast. This is golden, and you could follow by listening - no visuals needed

what about the sales tax for Wyoming based LLC owned by a non-US resident (for DROPSHIPPING from CHINA only) ? Can you please address that ? Do I still need to pay sales tax ?

what a view

Thank you so much for asking the right questions and thank you to Chris for elaborating on this important topic 🙌

Hey Scott. Great video! One question, when should you file your first tax return? My LLC was formed on 12 March 2020.