shopify 1099 2022
Published on: February 4 2023 by pipiads
Table of Contents About shopify 1099 2022
Shopify sales tax setup for stress-free compliance | Walk-through guide
Hi Shopify sellers. This is Kexin from LedgerGurus, And today I'm gonna tok to you about sales tax settings in your Shopify store. I know this is not the most exciting topic and it's just another admin task to add to your list. But trust me, if you can set this up correctly, then you are on a really good path to be compliant with sales tax, and you don't have to pay much out of your pocket. So before we dive into the content, if you haven't done so, please subscribe to our channel and hit that bell so when we get new videos published, you will get notified. So at LedgerGurus, we help so many e-commerce clients with their e-commerce accounting and journal entries and transaction coding and bank reconciliations, But at the same time, we also have a dedicated sales tax team that manage everything that's relating to sales tax for these customers. So I'm in Shopify all the time and I do these sales tax settings for my clients day in and day out. So this is really my arena to share my experience with you guys. Please comment if you have any questions and we'll be sure to get back to you on those questions. So today I'm gonna tok about two things. The first is: how does sales tax work with Shopify. Who's collecting it? Is Shopify like Amazon? And then the second part is I'm gonna walk you through the things you need to make sure you finish setting up on your Shopify store to be sales tax compliant. So to answer the first question, we get lots of inquiries on what's Shopify, How does Shopify deal with sales tax? And the answer is: Shopify is not like Amazon or Etsy or Walmart or another marketplace facilitator where you can just hand over the responsibility to them for to collect and to remit tax to the different states. If you are selling on Shopify, every sale that goes through Shopify is your responsibility to collect and remit sales tax. So Shopify's not gonna do it for you. You have to do it yourself. Shopify's not gonna turn on those settings for you automatikally. You have to turn them on yourself. So then let's tok about how to turn on those settings. There are five things that over the years of my struggle with Shopify that I've figured out, So I hope that this is really helpful to you guys. So the first thing is to enter the places you want Shopify to collect sales tax in. So you would go to settings and you go to Taxes and then you go to US store And then that's where you can add all the states. If you are one of the older Shopify users, you need to add a zip code. If you are using the new interface, which I really like, then you don't have to enter the zip code. You just need to enter your sales tax license and then the state, And then sometimes it asks you which way of sourcing you want. So we can tok about sourcing another time. So that's the first thing, is you need to tell Shopify where to collect tax. The second thing is, after step one, if you go back out of US, if you go to settings and then taxes, if you scroll down- so it's below all the different countries- you can see a box that says automatikally calculate tax on shipping. Some states charge shipping, some states don't. So you would need to check this box so Shopify will calculate tax on shipping And then, for the states that you know are not taxing shipping, you need to go in and add a tax override for shipping in that specific state. The third thing is you want to make sure all your taxable products are collecting sales tax. So to do this you need to go to your products and go to each products. You can edit each variant and then somewhere in the middle there's a box that says charge tax on this product. You want to check that for the products you that are taxable. some products are not taxable, for example gift cards, Those are not taxable, So you would not check the box for those products. Then the fourth thing is you want to add all your locations in from where the fulfillments are going through, So your warehouses that are fulfilling these orders that are sold through your Shopify store. So you would go to settings and locations And at all of thoseThe reason that this is important for sales tax is because some states are origin sourcing, Some states are destination sourcing. So, depending on where the goods are shipped from, if it's an intra-state transaction- meaning if it's shipped from the state to a customer in the same state versus shipped from one state to another state- the rates are very different and where to look for those rates are different. So it's important to put the location of your warehouse there. And the last thing is exempt customers. If you sell to exempt entities or if you sell to like wholesalers that are gonna use your products for resale, then those are all legitimate reasons to exempt sales tax for certain customers. And thus, you would go to customers and you go, edit this customer's information and you check the box to say this is an exempt customer And you can also give a reason on why this is exempt. So to just summarize - five places: first, you need to tell Shopify where to collect sales tax, Then you need to configure shipping options And then, third, you need to make sure your products are all collecting tax for the taxable products. And fourth, you need to add locations of your warehouses. And the last thing is to add information for your exempt customers. Let me know if you have any questions, feel free to leave comments and for sure to get back to them. If you like this video, please like it. Share it with your fellow Shopify users. Hope you all have a good day and I'll see you soon. Bye.
Taxes for Shopify Store Owners
taxes. they are not fun, but they are a very important part of e-commerce because you need to be collecting sales tax for different orders and you'll also have taxes that you need to pay to your own government. so in this video, we are going to go over the different taxes for small businesses and how to make sure that you are staying within the law for all of that and paying on time, okay? so since we are toking about taxes, let's start out with a huge disclaimer for this video: that i am not a tax accountant. i am not a cpa. i have no certification for toking about taxes. i am just toking as an e-commerce entrepreneur and a small business owner myself, and i've been paying taxes for over 11 years for my small business. so i'm toking from my perspective here. so make sure that you still contact a tax accountant in your area and you verify everything with them to make sure that everything is set up correctly and that you are paying your taxes correctly, okay? so now that that's out of the way, i want to tok about the different types of taxes that you have to pay whenever you're doing an e-commerce store. so, first off, you do have sales tax that you need to collect, and this is going to be depending on where your location is and what country. so i'm going to have this video toking specifically about the us, so it's going to be different depending on the country that you're in or that you're selling in. however, in the us, you need to be collecting sales tax anytime you have a physical location in a state. so that could be that your office is in one state and your fulfillment center is in another state. you would need to be collecting sales tax in both of those states because you then tiknically have a physical presence in both states. you also have to do sales tax collections based off of an economic nexus, so there are different requirements for different states based on if you have so many transactions in a state or if you have a certain dollar amount that you have sold online in the state. so this can get a little bit confusing. so we'll go over the best way to do that in just a minute. but this is a newer tax thing that has been added in the last few years that you want to make sure, if you're doing a higher volume of e-commerce sales online, that you're being really mindful of. so, first off, when you're setting up charging sales tax by a physical store location. you can do this inside of the shopify backend, so you would just go to settings and then taxes and you can add in your tax location there. so you would add in your zip code, so it'll add in the correct tax information based on the state that your physical location is in. so this is an important one to make sure that you have set up so that it's just calculating taxes overall based on the physical location. but, as i mentioned before, you also need to keep in mind the economic nexus. so this is different for each individual state, which can be a little frustrating since the us has so many states to keep up with and shopify really isn't set up for going through and keeping track of all this information. plus, shopify does not file any taxes for you, it's just charging the customer and it is on you and your responsibility to make sure that you are setting aside that money for taxes and paying that correctly to each individual state. so for this i really recommend a third-party app called tax jar. so tax jar lets you actually see the economic nexus so you can see how much you are getting close to that of needing to collect sales tax in partikular states, so it'll keep track of how many transactions you've had in a state, how much revenue you've brought in in a state, so it's really helpful for keeping track of all of that information so that you don't have to have a huge spreadsheet that you're constantly updating with every new order. also, with the tax share app, they do automatikally file taxes for you once you've got that set up. so, once you have registered that you need to file sales tax in a state, you can then put all that information into tax jar and get that set up. so it's a lot easier for you, especially if you end up having to file taxes in a lot of states based on your online orders and revenue. so i definitely recommend taking a look at tax jar if you are expecting a high volume of orders and you are expecting to have more things that you're qualifying for in terms of different states that you're needing to pay taxes on. i'll put a link to it in the description below, but definitely an app to check out. so that's just the sales tax portion of it all, though you, as an individual, will have to pay taxes on any income that you have received from your business, so this is going to depend a lot based on how you have your business set up. if you are set up as a sole proprietor, so as an individual, if you are an llc, a single member, llc, an, s, corp, a, c corp- however you have set up your business entity, that really depends on how the taxes that you are having to pay are structured out. so i'm not going to get into all of that again. make sure to reach out to a tax accountant and make sure that you're paying the correct taxes for you. but overall, you need to pay taxes on any income that you have received from the business. so you can write off things like expenses, so your cost of goods, of any kind of cost of actually shipping out the or fulfilling the product itself, of the shipping cost, any marketing costs like paid advertising or if you've hired independent contractors to do designs for you, you can deduct all of those as expenses from the business account and you don't have to pay any taxes on that income. that is. there also any income that you leave inside of the business for future months of running expenses. you don't have to pay any income tax on that as well. it's just the money that you're taking out personally as profit from the business and again, that does vary really wildly based on the entity structure that you have set up for your business. so, overall, you just want to make sure that you are reaching out to a tax professional in your area and that you have everything set up. the last thing that you want is to be hit with a huge tax bill that you weren't expecting and you don't have the money set aside for that. one's gonna hurt really bad and it's going to hamper your business growth if you're then having to take additional money from the business or from your own personal accounts to pay off taxes that you hadn't prepared to pay for. so you want to just make sure that you're thinking ahead and setting aside whatever money that you're collecting for taxes- whether it be sales tax or income tax- that you're going to pay personally. so i hope this video was helpful for you in deciphering a little bit more about the different taxes that you have to pay for a small business and for e-commerce stores. we've got a couple more videos over here all about growth strategies, so how to actually grow your shopify store for 2021, and if you haven't yet subscribed to this channel, make sure to hit that subscribe button below. we post videos every week all about shopify and how to grow your online store.
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DOCUMENTS FISCAUX SHOPIFY 1099K
c'est les amis commentent âge, vous voulez vous être ici. c'est marina, entrepreneur condamné comme un trophée, que c'est maintenant et espère-t-il au canada, mais dans cette ville, nous parlerons des documents fiscaux dits choqués par cette source, est sous la forme de qte ou non. si vous êtes dans une cuisine et ça, alors montez, vous êtes aux états unis. la forme de ce document, la pessah, lequel on, lundi, dans ce qui sera fait, huit canadiens, qui est un bon entrepreneur, doivent nécessairement y lisait tassala chaque année. voyez donc, on sait comment on porte en lots, comment tout le reste, et nous, demain a évolué dans votre plein essor à long terme, que dany boon forcément suivi les passes, à voir que, tant qu en fait de nouvelles à ce que vous faites, comment faire pour pouvoir trouver ces documents? parce que j'allais chez plusieurs messages des accords, voilà, vous obtenez l'année. ok, on atteint la limite, mes toiles, comme en fait foi obtenu, car vous êtes document ok pour pouvoir affirmer, temps de vous mettre à votre compte et vous pouvez appeler que l'état soit pouvoir filer les temps forts de l'année 2022, voilà donc la raison pour laquelle j'ai fait cette vidéo: pouvoir nous associer. comment pouvoir, comment retrouver ces documents-là directement à partir de votre boutique. or, stéphane hocquet, c'est très facile, tant par les avis, avant d'aller à avant d'aller chez mon écran, ok, pouvons montrer comment obtenir cette pouvant en huit ans, sur ce qui est le plus fort. si vous êtes nouveau sous marin, venu tout gâcher and i like et la vidéo, abonnés de marseille ou toulouse, aussi, commenter la vidéo qui va nous aider à pouvoir vraiment, à chaque fois, faire sauter des vidéos du genre en chine, vous avez probablement avant, c'est la vôtre. alors cette année, en se retrouvant après le vol [Musique]. alors là, on se retrouve sur monique rap rock est arrivé à se nicher là. mais qu'est ce qu'il faut faire? vous voyez, à la, je suis lasse, pas des stats, évoqué au niveau des tâches, mois. ailleurs, ce niveau qu elle souffre est voilée. à ma gauche, ok, à ma gauche, là où on me finance, ok, voilà la vision des finances à macau, je suis impliqué, finances, je clic suffit, noces, ok. et après, maintenant, un peu, finances. jacques pu ménager, qui suivait, est ma voix, est là où je me fais ce moment. après, finances, voyais, la facturation est en dessous. il ya faire souvent hockey ici, à ma boutique, un agrément, l'interface de chat. et vu les demies en français, pouvoir un peu, je les mets en france. encore, à votre niveau, vous groupe à l'appât du versement pour cela, ton est cela, qui y ont mis le respect des statuts fort et en anglais, et ça sera à voter une transaction. ok, ça, souvent très chaud. ok, et encore, ici, c'était ce nom parce que bon, c'est milla lanka et en français, et donc on n'a plus eu jusqu'ici versement gérées sous vêtements et ça va se réaliser. ok, donc, la capuche versements et voir ce que viennent. voilà ce que j'ai et ça. vous aurez ici la liste de tout ce que je peux faire grimper au qui vous ressemble, tout ce que je puisse avancer plus vite ou plus ferme, et à payer du 1er janvier au 31 décembre. tout est ici, bon, tout est la voix, et tout est là maintenant, ou casse qui nous intéresse, et amis à, on aimerait obtenir le nôtre, doublement de taille. ok, si vous êtes aux états unis, la forme, c'est maintenant at il indiqué. ok, la fin du tout. comment? cette plaine qui au canada, je ne sais pas trop. ok, en france, on ne sait pas trop, mais il s'agit de suivre le mât chinois que moi, et vous aurez votre mot de passe et vous aurez juste pouvoir, grâce à avoir pas comptable que le compte, à vous à dire, à pouvoir faire quoi? pour filer les tapas, pouvoir, puis l'état, c'est important parce que un bon entrepreneur douaniers du douar doit nécessairement fils et à un peu dans sa danse. this is ça, c'est avec la boutique là. ça, c'est tout ce qu'il pourra faire durant l'année 2000 à 2009, 21 et de 21 hockey avec un artikle à tout à remonter vers le sud avec ce que j'ai fait avec la boutique à tout au long de l'année d'ouverture. donc, c'est mythique des 100 que vient de placer sa sur ce titre, ok, j'en ai plusieurs boutiques de voir un peu. donc, avec la boutique là, j'aimerais vous faites, a obtenu des documents que je vais pouvoir et à tous les documents. alors, pour pouvoir fils et à sang, ok, tout ce qu'il ya à faire pour la faire confie, ça peut coûter beaucoup de l'année de l'ouverture. j'aimerais maintenant obtenir ces documents là pour pouvoir remettre à mon propre compte à blaye, va m'aider à pouvoir filer l'état quand je suis un parieur avait, comme les autres boutiques également. donc, comment faire pour trouver le document? tu viens si la gemmi document. je quitte la wii à ma droite, en haut, à ma 3par au hockey. avant, trois transactions après, j'étais là la seule à avoir un peu. j'ai appris à peluches et autres. voilà ce qui s'affiche: way s'amuse, formulaire away pour l'année 2020, la planète de 0,6 à la world cup et voit la formule, un tel engin qui way et non lundi dans sa cellule. ça c'est le nom du document. toutefois, télécharger pour votre affrontera comptable pouvoir, un peu, je savais d'accord, c'est celle ici. voyez ce qui m'intéressait: l'année budgétaire parce que adjointe à l'année 2022, d'accord, je viens juste d'être cours de l'année du directeur, ou voir que les espaces que vous, l'année de l'année du buffle, j'avais fait ça depuis, agents dans l'année 2022, dont voyage du document de l'année 2001 et vainqueur, ok, l'année vous, que ces lenteurs, pouvoir filer les temps sont de ceux qui oeuvrent pour faire dans l'année précédente pour avoir des problèmes en avait, et l'état fédéral est aussi le style, ou un peu encore comme entrepôt, dessous de la loire et la haute-loire. la famille 2021, formule 1, elle a dit: je vais en plus, j'ai téléchargé, attendait d'abord les jeux dévoilés à votre niveau. si votre boutique à vous la met juste prix en 2020 heures, vous aurez uniquement voué, uniquement à but, uniquement. le formule 1 de 2000 voitures est là. ok, vous recevrez formule est d'un naturel à moi. ça, parce que la boutique là, je suis libéré depuis l'année 2000, à fait, ok, j'ai créé la boutique a depuis l'année 2000, vers, ce qui fait que j'ai le faible de l'année 2020: hockey est le faux nez de la, le 2 mai 20h. donc, pour l'année 2020, j'avais d'affilée ça depuis la halle et fils états depuis l'année passée, mettant pour l'année 2022, ok, et les documents, le tass de l'année 2014, maintenant, je vais appeler ça rythme en début de méfaits du pacha qui va. nous sommes en février 2002, donc je rappelais létard ça pour ce tout ce qui lui a fait confiance à faire beaucoup de l'année 2000, à fait, bien, ok encore, comment faire? j'ai en plus eu télécharger hockey, déjà, les pros, fichiers pdf way dans ses pensées, vous a plu, suffit de télécharger le document à la lgv en savoie. se télécharger est tous super, un peu face à voilà, voilà ce que vous aurez, les aplombs, vous avez la même chose comme moi. voilà, vous avez la même chose que vous. maintenant, qu'est ce qu'il faut faire? il faut juste et hebdo. mais ok, vous, et prenez photos que moi, je vous ai joué sa recontre comptable dans cette profession comptable, qui va vous aider à pouvoir maintenant, a filetta su bien l'impression qu'ils vous aident à vous appeler l'état. vous allez vous mettre à voir ici. wesh, ils ont mené 3-2 militaire, doit être de mettre fin à qui donc? voir, voilà le document que nous aurons à pouvoir, à remettre à votre comptable qui vous aident à pouvoir, et fils et hawaï. et si vous avez parisot, me fait dire à un, comme ça, tu vas, y est d'accord, c'est tout, est clair, tout ce que cette compensation, je puis, file, informant, et l'étagé, l'étape idéale aussi, le style hockey qui vous a perçu tel montant, c'est votre compte. encore, vous devez déclarer ça, c'est important. oui, je vais déclarer ça, c'est vraiment important, un peu denses, et ça tant que cet ami. j'espère que j'espère que, grâce à cette vidéo, savant pour coup, vraiment, vous avez pour que le fiso, mais désormais, vous aurez la facilité fait tantôt plus. j'espère que cette vidéo vous a plu. alors n'hésitez pas, du lac et la vidéo, de commenter la.
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IMPORTANT INFO ALL RESELLERS NEED TO KNOW | Reselling Taxes 2022
oh boy, texas. so 2022 is quickly approaching and within new year comes a new federal tax law for us, small business owners and small sellers. the government has now initiated a new federal tax law that will begin on january 1st 2022.. a lot of us are probably really comfortable with knowing that all the online marketplaces never reported to the irs until you made 20 thousand dollars in sales, for sales, or and, or if you made 200 transactions. well, no more. before i jump into this video, let me just preface that i am not a tax professional. i am just sharing the information about this new federal tax law to more or less give you guys a public service announcement about what's going to start happening coming in january 1st 2022. if you're a reseller or online seller, like myself, i highly suggest you guys look in the description for some of the information links that i will be providing regarding this topic, because i know it's a a topic that a lot of people have questions about and, of course, i am not a professional and at all, but i do know how to you know, read and comprehend uh tax law. so, um, i will have that in the description below for you guys to read up on as well, but i'm going to give you the quick basics in this video, and this video is kindly brought to you by mercari. they are sponsoring today's video. they asked if i could put out a video as a public service announcement about this new tax law which really will take place for all online marketplaces, not just mercari. but they did reach out to ask if i could do this video for you guys and i was like: yeah, absolutely. you guys know i love to work with mercari, but this is more like an informational video. so you guys need to be aware of this new tax law. reselling has taken off, so of course now the government has made a new little tax regulation on it. of course now you should be paying your taxes already. you shouldn't. this shouldn't be so surprising, like crazy news, like hopefully you have been paying your taxes already, just like everybody else. we should all be paying our income taxes. last year- i know you guys i've probably mentioned in a few videos- i did all of our taxes by myself because i am a sole proprietor. reselling was- that was the first full year of it being, you know, a bit like a small business and on my business expenses and the whole nine yards. it did take me like three or four days to do all of my husband and i's taxes, to include all the reselling stuff. so it definitely took a little while. but we never got audited and everything was correct. so thankfully that is all said and done. so, like i kind of briefly stated in the beginning, online sellers- i think for the most part we're pretty used to- if you make over 20 000 in sales or over 200 transactions, then a 1099k is submitted to the irs for you to report those gross sales. now that is all changing. now if you want to make, if you want to gross over six hundred dollars- six hundred, six, zero, zero- then you're going to have to fill out a w-9. at least on mercari they've already put out this information- i'm assuming all of the other marketplaces are going to be like this as well- just to get your tax- individual or business tax- information so that way they can create your 1099 at the end of the year to send it over to the irs so your income tax is reported. however, that does not take into account any cost of goods, your business expenses, the shipping, the driving, all of the crazy business expenses that go with the job. so it is just looking at the gross sale number. there are a lot of inner workings, of taxes, obviously to bring down your taxable income tax deductions as a small business owner. so mercari has already went ahead and let all of the users know on their app, um, which i will pop up on the screen here, um, to go ahead and get your w9 info in there. if you want to sell more than 600 in the new year- and of course i do so- i'm gonna go ahead and get that filled out as quickly as i can, because i do typically sell about 300 to 500 in gross sales a month on mercari. just as a part-time seller, which i'm fine with, i will be expecting to make, you know, thousands of dollars on marcari next year, so i am going to want to get that done. so, yeah, they make it really really easy to go ahead and do. but going back to some points on this whole new tax law, this is taking effect starting january 1st 2022 and it is coming from the united states government, not mercari, not poshmark, not ebay, not amazon, not shopify. whoever your online marketplace is is not coming from them. it is coming from our government, which everybody does business under, so we all live well, at least not all of us. if you're in the united states, this is a new tax law for you. if you're not, then congratulations. really, only what should be taxable is your gains or your profit of your sales. so if you sold something for fifty dollars and you actually bought it for a hundred dollars, tiknically you're negative fifty dollars, so your cost of good would be a business expense. so really none of that income is taxable, so you're not gonna get taxed on it. but if, for whatever reason, you sold something for fifty dollars and you bought it for ten dollars, then that forty dollar difference is your profit and that is applicable to be taxed. of course you can deduct more business expenses depending on your business. it's not going to be the same for everybody. you know your, your monthly subscriptions, whatever you use to be able to provide those listings, your cost of goods, of course, which we toked about getting to those items. the list kind of goes on and on about how many things that you can deduct for your business expenses to kind of lower that taxable income. so another point i want to bring up is that now more than ever, it is so, so, so important for you to keep up with your numbers, your gross sales, your cost of goods, sale dates, the item, how much you sold for the profit, any sort of selling fees which can be deducted as well- you know, like mercari is 12.9 plus some- i always say about 13 from recurring um is what the selling fee ends up being- but all the selling fees for your online marketplaces, business expenses, because it is, you know, an avenue for you to be able to sell your items. but now more than ever, it is important for you to keep up with your numbers, and so, if anything, this is a really good public service announcement that in 2022, one of your new year's resolutions should be to keep up with your numbers, at least on a weekly basis or something, so that way you're not having to play catch-up for like a month in the next tax season trying to catch up with everything anyways. my point here is like this is the time to really stay organized. not even just your sales, your cost of goods, where it's sold, your selling fees, not not just that, but also all of your business expenses, anything and everything that you're spending on your business. keep up with it. create like a digital spreadsheet so it'll be easier for you if you're doing your own taxes or your tax professional, keep up with all of your receipts so that way, if you do, for whatever reason, get audited, then you would have all that information to be like: yep, this is here, this is here, this is here. um, some things that you do also want to keep up with is like, if you are driving a lot, keep up with, like, your start to end mileage. just keep up with your mileage. um, there are a few different ways of having a business deduction for your mileage, so you might want to look into that. i'm not at liberty to tell you which one is best for you- that's something you'd probably have to look into on your own. but there is a deduction for driving for your business. now, for whatever reason, you do, get audited and now, instead of getting a refund, you owe the government some money. or if you just straight up om after you know filing your taxes, this is also a good reminder that you might want to be saving some money for taxes. so i'm sure you've heard a lot of resellers here on youtube tok about that- that they usually set aside about the range gener.
How Shopify Entrepreneurs Can Do Taxes The Right Way
hey everybody, justin cener here, in this video i'm going to teach you how to get your ecommerce taxes and accounting done right, and we'll jump right into it. this topic is maybe not super sexy and exciting, but it's very important and obviously, building your own brand, that's fun, that's exciting- maybe not as exciting, but super important. accounting, tax planning, proper business setup, bookkeeping- these are kind of the backbones to your business and they make up the back office that really kind of runs and operates the day-to-day, and you're not going to see gurus really toking about this because it doesn't sell courses. you know, it's not something flashy, it's not something you could attach a big screenshot to, but you could really save or lose a lot of money when it comes down to bookkeeping and proper tax filing if you don't do it the right way. so this is all very important, even if it isn't kind of the most flashy subject, and there are definitely a lot of pain points that ecommerce entrepreneurs run into when they do their taxes or their bookkeeping. and number one is: you're an entrepreneur, not an accountant. that's a very specific task and very specific set of skills, typically not one that is, uh, kind of shared by entrepreneurs. and on top of that. even if you were an expert, you may not be any more. tax laws, especially regarding online commerce. they're constantly changing. there are a bunch of updates in 2021. there's going to be a lot more in 2022 and beyond. the bottom line is you need to have someone that actually understands not only the kind of overall idea of tax, but what's happening right now, this year in tax laws relevant to e-commerce, and there's obviously no built-in way to do this with something like shopify. there's no accountant side of things. it's really going to involve working outside of the platform, and that's what this video is all about. that's why i've been working with 1-800 accountant for a while now, and if you want to get your taxes done right, you're going to use 1-800 accountant. i'm going to show you over the shoulder exactly what they could do for you. you see the link in the description, though. very, very, very highly recommended, not just by me. they have massive reviews, so let's go over the shoulder. i'm going to show you 1 800 accountant right now. so you're looking at 1800 accountantcom and say hello to better online accounting. first of all, these are all real cpas. they're all real experts. they understand not only about accounting in general bookkeeping in general but specific to your industry- e-commerce right. they're going to be able to match you up with a cpa on their on their team that actually understands your business, and i can't tell you how important that is. you could tok to someone who has 20 years of accounting experience, but if they don't have e-commerce experience, it's not going to be as helpful and really that can kind of come under the lens of a lot of different uh services and all of these can be kind of your topic of help. with 1 800 accountant, for example, you might want to be starting a business officially right, actually filing the paperwork, figuring out which type of business is going to work best for you. that's, you know something that they could absolutely help you with and that really helps you right off the bat, be on the right track for success. every year, business taxes right. today, a 1 800 accountant saves businesses more than twelve thousand dollars a year on taxes and they guarantee the largest possible refund. basically, they know exactly how to maximize on your tax prep- not only tax time but throughout the year tax prep- to make sure that you're filing your taxes properly and taking advantage of anything that you can, of course, within the guidelines, that they are truly experts at payroll. for those of you that have a payroll staff needing to have that in their 1-800 account, can do that for you. and, of course, bookkeeping, which literally everyone needs and almost everyone ignores this is that day-to-day accounting, sales orders, cogs, right, marketing, understanding your numbers at any uh, any moment- right. proper bookkeeping is incredibly important as well, and they always tok about cpas being a business owner's best friend, i mean, first of all, when it comes time to file taxes. this is the amount that you'll save by working with 1-800 accountant people who actually understand right, understand what is going to be needed to file and to maximize your return as an e-commerce entrepreneur, as an e-commerce business owner. these are going to be accountants that know your business specific needs and know the industry in terms of the guidelines, the rules, even the new, updated rules that are very, very relevant to us as shopify and e-commerce entrepreneurs. and, of course, as an entrepreneur, you want to know about their pricing: flat rate pricing, very affordable. it's not hourly, so you're going to get nickel and dime to death. you can take a look at their pricing more again. you see the link directly below this video and they have 30 days no obligation satisfaction guaranteed. the reason why they have so many huge reviews- 4.7 out of 5 stars on over 3 800 reviews. right, and you can come over here, take a look at trustpilot and see all of the different reviews that are on trustpilot here for 1-800 account they have that excellent rating. four point seven out of five verified company and literally just come over here and read review after review after review, understanding exactly kind of what i'm describing here. why they're so good is because they have that very specific industry expertise and they've partnered with literally some of the biggest names in the space: legalzoom, bizfilingswebcom, gusto nolo. you've probably heard a lot of these names in the accounting and legal space. 1800 accountant is a leader among all of them and you could read through here. they've got a lot of great content on this site but really the bottom line is you want to go ahead and tok to a cpa schedule, a time schedule, an appointment, and you'll be able to meet with an accountant that is going to have that relevant experience for your business, whether you're a single person ecom store, maybe you have a team, maybe you have multiple businesses, maybe you also have a full-time job, whatever it is you're going to be able to get all of that kind of uh toked about and your plan kind of built when you just come up here, start for free and schedule your call, and i really highly recommend them. i think the biggest thing is that, of course, any accounting firm is going to have cpas right. they might also have some nice reviews. what 1 800 accountant has are industry expert cpas, which are incredibly important. any cpa can help you start a business right? how about a cpa that understands shopify, e-commerce right, amazon? or, when it comes time to do business taxes, any accountant can help you with business taxes. but people that are going to really help us as ecom entrepreneurs are going to be the people that file econ business on uh taxes, file small business taxes, that have stores and retail storefronts and have drop shipping businesses and print-on-demand businesses. same thing goes for payroll and bookkeeping and they're really going to become your best friend, like it says over here, if you have that industry match and that industry expertise- exactly what 1-800 accountant gives you. so i really highly recommend them. you take a look through if you're in my bootcamp. i've got a lot more videos on tax prep and how to do this if you're taking a look at my free training. i've got some content on my youtube as well about tax time with 1-800 account and how they could help not only at tax time but year round. so make sure you check, check that out. a lot of great stuff there. you can learn more about 1-800 accounting. you see the link directly below this video. but i highly recommend them and, again, like i said, not just me. they have that excellent rating, 4.7 out of 5 stars over here on trustpilot, so you know that they are really good at.
Best Accounting Software for Shopify in 2022
while there is certainly no shortage of small business accounting software available today, choosing the right tool can be deceptively challenging. with so much overlap and functionality and considerable differences in pricing, it's all too easy for business owners to end up choosing the wrong accounting tool. after even a modest length of time, switching to another accounting program can seem more of a hassle than it's worth. a great example of the sunk cost fallacy, which makes choosing the right tool in the first place partikularly important. hello everyone, this is james from 925softwarecom. here we'll look at some of the best accounting softwares for shopify currently available on the market and also include further options to consider, as you can opt for specific expense tracker apps or even customer accounts. check out the links in the comments to get a free trial and a discount to the applications we look at. before further ado, let's get started. books. one of the most popular and well-known small business accounting tools available today is freshbooks. many of freshbooks tools feature small assistive tiknologies and automations designed to make bookkeeping easy. freshbooks can be configured to automatikally reconcile credit and debit amounts and can automatikally import financial data from a range of sources. users can also adjust access permissions on an individual basis. for example, employees can be granted limited access to financial reports, while you can give your accountants administrator privileges. speech 50 cloud. sage 50 cloud accounting is comprehensive cloud-based accounting software product with extensive customization options and advanced functionality. the products pro accounting plan- the least expensive option available for 50.58 dollars per month- is aimed at smaller independent businesses. it can handle a range of accounting tasks, including expense management, invoicing and inventory tracking. sage 50 cloud accounting also integrates seamlessly with microsoft office. sage's other plans offer additional features such as role-based security privileges and account management for multiple companies, but may be prohibitive for smaller businesses with more modest administrative budgets. books online- intuits. quickbooks online is a popular bookkeeping tool that can help business owners handle their accounting quickly and easily. quickbooks has everything business owners need to take control of their bookkeeping. quickbooks features clean, simple interface and intuitive reporting means even newcomers can get up to speed quickly. all quickbooks plan includes mileage and expense tracking, sales and tax reporting and tools to manage 1099 contractors. quickbooks other plans offer additional functionality such as inventory tracking, support for up to 25 individual users and even access to a dedicated customer support manager. plans start at 12 per month. two businesses are exactly alike and an accounting solution that works well with one business may not work at all for another. while there's a great deal of overlap between the small business accounting software above, only you can decide which tool is right for your business. some business owners may see sophistikated reporting functionality as an essential feature, whereas some may prioritize automated reconciliation. before investing in a new accounting system, it may be worth taking advantage of a few free trials before committing to a decision.