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Using Tax Exempt Account to Increase Profits when Drop Shipping on eBay EXPLAINED

Published on: December 3 2022 by Marc Augustine

Using Tax Exempt Account to Increase Profits when Drop Shipping on eBay EXPLAINED

okay what's up this mark
Becky
Andra Ryan actually at will do a video
about your what you did yesterday entity
after but this videos about tax-exempt
and Becky and Ryan wouldn't really have
I keep calling you Andrey yeah like it's
Andrea like so Becky and Ryan do you
have much to say about tax-exempt but we
do in video so I asked them to just sit
here and look pretty so basically I
don't know why I may or may not look to
see if I made a video about this but
this is what it is so we always used to
charge taxes like sales tax on eBay us
and you charge the front seal Saperstein
and then when we purchase the item and
ship it to the buyer you and a peon
sales tax to like Walmart us or Amazon
or Sears or whoever the right and
what used to happen is that the the
state let's if Florida can't collect
sales tax from both Walmart and from us
on eBay twice if we never touch the item
right scan I calm the down
sky is my dog so what has happened
recently I want to say a few months ago
is that eBay sent an email saying listen
y'all need to stop since
charging sales tax not in those words
but but something similar and it's
interesting because it wasn't sent to
every person they just like over time
like different people kept receiving it
so the solution that we figured out is
that we need to stop paying sales tax to
the other supplier so we learned how to
open an account with Walmart Amazon
and Home Depot so far that is a
tax-exempt account what that means is
that all the items you buy when you ship
it to other states you don't pay sales
tax but you only pay sales tax in your
state now I'm not going to go step by
step and show you how the to get us
a tax exempt account but I'll just give
you like this summary right so basically
you need to have a corporation you could
be a sole proprietor sole proprietor
means that you don't even register
separate corporation you need to get a
tax ID number the tax ID number you can
get as a corporation or sole proprietor
and then you need in Florida it's called
a business license in other states is
called a tax certificate and I don't
know what is calling all the different
states right but you need basically a
certificate from the state that you're
in doing business seeing that you're in
business and you allowed to collect
sales tax once you have that form and
you have your tax ID number there I'll
put a link to the Walmart form on this
video but you go to Walmart Amazon Home
Depot and I think Sears and basically
register as a business and get an
account where you do not pay taxes when
you buy items and ship to all these
random states so I'm just doing this
because someone asked me to do this
video and explain in a little
more detail so here you go
you're welcome okay glad so if you K you
it's much simpler because we don't have
like difference by state it's the whole
country pays the same sales tax and
sales tax is already included in the
price they don't add it on afterwards
depending on where the person is located
but everyone pays sales tax so instead
of getting exempt you'd have to you pay
it anyway when you buy it and then if
you're registered to charge sales tax or
via t as it's called when you go to pay
the government the DAT or sales tax that
you
you deduct what you paid for it when you
bought the item so yeah you pay the less
sales tax because you well you you pay
the government less sales tax because
you claims back what you've gotten when
you bought the item that's very
complicated but you need to set up with
an accountant and to be registered to
charge v80 so yeah yeah that's it good
information it wasn't even you
distracted me because if you in the UK
the AC is already included in the price
that you pay there's no state
differences but and via t is for
value-added tax
idiot Andreea he in one of his
videos some comment or some so this
week let's see this to
teach you guys how the job ship on eBay
but he doesn't know what the that
is
so if you happen to see this video and
know this and Rhys Andrea so
whatever his name he has a YouTube
channel send him this video so you
notike that that stands for value-added
tax and if you charge $1,000 it seems
people are the dropship on eBay
you should or advanced we're go
ahead sorry so when you buy something
from your supplier you are always paying
v80 on what you purchased when you are
registered to charge your customers v18
you are gonna have to pay the government
the vit you've charged them which is
included in the price but you claim back
the VNT you purchased when you you paid
when you purchase the item ah so the old
so you an appeal let's say you pay Argos
but yeah then you charge that yeah and
the government takes that but then when
you file in taxes you get back to back
to you part Pete are you okay
so that is cool so I was right
I thought you said want some coolant but
you need a you need an account to become
v80 registered so she did give you all
some value information
value-added information Andrea's
for sake anyway have a good one
subscribe to my channel
look at the description for the free
and Becky's channel and those of
you guys who add back your Facebook stop
calling on facebook facebook
like and sending me pictures
no dick pics no video cause it's not
gonna happen like actually know if you
said come on if the next dick every
Becky help you say got a dick pic I say
we put it public and tag the person okay
yes so Santa dick make if you want the
world to see it okay bye