Amazon FBA sellers face many issues, including keeping track of their sales and reconciling all of their records when it comes time to submit their annual tax returns. If you’ve been considering becoming an FBA business, Robert Hall & Associates will help you breathe a sigh of relief and avoid all IRS issues.
Advantage of Selling Through Amazon
Fulfillment by Amazon (FBA) helps you save time and effort handling the logistics of your online business. This is especially beneficial for individuals who don’t have a lot of time on their hands to accomplish all of the small tasks. FBA also allows you to store your items in their fulfillment facilities and handles the journey of your goods to your customer.
The Importance Of Hiring A Professional Tax Preparation Firm For Your FBA Business
You must record your income on your annual tax return because you make money from FBA. Additionally, any business must account for all its transactions to correctly complete the tax forms. A common problem for business owners is that they most likely won’t have time to do anything about it. This is where a tax preparation firm can help since they assist businesses with their finances and tax returns.
At Robert Hall & Associates, our tax preparers are experienced with processing the finances of small businesses that sell through Amazon’s FBA. Consider hiring our team for your Amazon FBA accounting needs in California.
Reconciling Amazon’s 1099K Form with the Sales Declared on the Tax Return
A 1099K form is issued by Amazon and describes the gross receipts a vendor gets from their sales. A typical challenge for many online sellers is reconciling the amount on the 1099K with the actual sales received from Amazon. This can lead to issues with the IRS. Having problems with the IRS and the threat of getting audited is a nightmare that every business wants to avoid. This is why you should hire an Amazon FBA tax advisor from Robert Hall & Associates to ensure you can focus all your energy on growing your FBA business.
Small Business tax advisor in California
Robert Hall & Associates can also assist you in expanding your business. We have a team of professionals that work with clients to assist them in growing and managing their businesses. Our team has a lot of knowledge assisting FBA customers, from helping them keep track of their Amazon accounts to standard bookkeeping. Let Robert Hall & Associates be the one to reduce your tax-related stress! Call us at 818.925.7594 or fill out our contact us form to schedule a free consultation.