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February 27, 2013
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Make Online Business Tax Reporting Easier
What you need to know as you prep your tax returns.
Q: Any tips on how to make online business tax reporting easier? What forms do online sellers need to file, what should we have handy and what write-offs can we use? A: Let’s start with the basics. While you certainly should check with a […]
February 22, 2013
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2013 Tax Change Impacts U.S. Buyers
Smaller take-home pay means shoppers will spend less.
A change in U.S. social security tax law that decreased Americans’ take-home pay is affecting how much people buy. That’s according to a recent survey by researcher BIGinsight. It finds that 73.3 percent of shoppers say their smaller paychecks are […]
November 7, 2012
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Plan to Hire an Assistant? Know the Employment Laws
Experts discuss the legal considerations of becoming an employer.
You may find that when your online business reaches a certain size, you can’t handle all the aspects of your operation—shipping, creating listings, packing, sourcing, etc.—on your own. You need help, so you decide to hire an assistant. You get […]
September 18, 2012
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Tax Write-Offs: Can I Deduct My Vacation?
Here's a rundown of what vacation expenses do and don't qualify as tax deductions.
I recently co-wrote my first book, Introduction to Tax Laws for Amazon Sellers. While this may not make me a tax “expert,” it does mean that I field tons of questions every day about tax laws and tax write-offs, and […]
June 7, 2012
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Reporting Deadline Nears for U.K. Sellers
Merchants are promised lower penalties if they report online earnings by June 14.
Sellers in the U.K. who sold regularly on online marketplaces and did not report the income these sales generated to the government have one more week to report their earnings to get “preferential treatment.” HM Revenue & Customs reminds sellers […]
May 21, 2012
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A Few Minutes Can Save Hours
Why it's important to start preparing for tax season now
Technically, tax season is over. If you are like many online sellers, you just want to forget the month of April, completely. It was tough enough to pull together all of your records and get everything together for taxes. Many […]
May 1, 2012
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Break Up with Your Spreadsheet
Why you'll be more fulfilled by switching to online bookkeeping tools
If you are like most online sellers, you have a spreadsheet that you update weekly—or maybe even daily—to track and manage your business finances. You probably have heard of all of these fancy schmancy cloud-based technologies that you can use […]
April 16, 2012
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Getting a Handle on Bookkeeping
Part 1 of a series that explains how you can take the work out of business accounting
Bookkeeping—yuck! Why should you even consider reading an article about bookkeeping? I’ll tell you why: Because ignoring your bookkeeping is the No. 1 mistake you can make to harm your business. At Outright, we see that most online sellers associate […]
April 5, 2012
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Federal Court Kills Amazon Tax Law
Ruling calls Colorado bill 'unconstitutional' and 'unfair.'
A federal court has thrown out a Colorado law that would require out-of-state online retailers to collect state sales taxes, sometimes called the “Amazon Tax.” The law was passed in 2010 in a package of bills that was intended to […]
March 28, 2012
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Claim eBay Sales on Tax Return?
In response to Making Tax Prep for Online Sellers Easier: I inherited from my mother-in-law all the unsold inventory in the little retail doll store she had, plus her personal collection. She died in 2011. The law states that there […]