Author Topic: any accountants out there that i can ask a question?  (Read 256343 times)

Offline Yehuda25

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Re: any accountants out there that i can ask a question?
« Reply #1640 on: November 18, 2018, 02:11:47 PM »
BMG at the top again.
A frum professor told me he was at a conference, this was discussed and everyone wanted to know BMG's teaching methods etc..
Lol
good stuff lol
ďTo avoid criticism say nothing, do nothing, be nothing.Ē


― Aristotle

Offline Jkhein

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Re: any accountants out there that i can ask a question?
« Reply #1641 on: December 25, 2018, 09:06:50 AM »
It I write a charity check today but the recipient only deposits it in 2019, can I still deduct ir for this year or not?

Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #1642 on: December 25, 2018, 09:09:03 AM »
This year

Offline RavChik

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Re: any accountants out there that i can ask a question?
« Reply #1643 on: December 25, 2018, 12:54:10 PM »
Hi, I know there a lot of online sellers over here and perhaps someone is familiar with my issue

I live  have a side business registered in Illinois selling items on  Amazon. After I read about the tax changes for online stores, I contacted the Illinois Department of revenue tax specialist to check if I need to collect sales tax

I was suggested by Illinois Department of revenue tax specialist that I need to collect 10.25% in tax from IL residents and 6.25% from Non-IL residents from on-line sales to remit those sale tax to the state of IL. I received the Illinois State Tax Registration number with effective date 01/01/2019.

I checked the Amazon tax setting and it seems that I need to obtain State Tax Registration number from every state to collect and pay sales tax there. I communicated with them over email and spoke with their tax team and that is the way Amazon does. Even if I do that, it makes me liable to pay sales tax to those states and not the state of IL.

Would anyone assist me in this matter? Is there a way to convince Amazon to make the setting to satisfy the Illinois Department of revenue sale tax requirements?

Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #1644 on: December 25, 2018, 02:20:53 PM »
This year
Just to clarify, this assumes that you mailed out the check before year end.

Offline Luvisrael

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Re: any accountants out there that i can ask a question?
« Reply #1645 on: December 25, 2018, 02:31:04 PM »
Whats the procedure if i live in NJ and work in New York State?(not NYC)

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #1646 on: December 25, 2018, 05:38:52 PM »
Hi, I know there a lot of online sellers over here and perhaps someone is familiar with my issue

I live  have a side business registered in Illinois selling items on  Amazon. After I read about the tax changes for online stores, I contacted the Illinois Department of revenue tax specialist to check if I need to collect sales tax

I was suggested by Illinois Department of revenue tax specialist that I need to collect 10.25% in tax from IL residents and 6.25% from Non-IL residents from on-line sales to remit those sale tax to the state of IL. I received the Illinois State Tax Registration number with effective date 01/01/2019.

I checked the Amazon tax setting and it seems that I need to obtain State Tax Registration number from every state to collect and pay sales tax there. I communicated with them over email and spoke with their tax team and that is the way Amazon does. Even if I do that, it makes me liable to pay sales tax to those states and not the state of IL.

Would anyone assist me in this matter? Is there a way to convince Amazon to make the setting to satisfy the Illinois Department of revenue sale tax requirements?
I'd love to help but no idea what your question is.

Offline RavChik

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Re: any accountants out there that i can ask a question?
« Reply #1647 on: December 26, 2018, 02:08:14 PM »
I'd love to help but no idea what your question is.

Thank you. My question is how I can comply with IL Dept of revenue sale tax requirement (to collect 10.25% from IL buyers and 6.25% from out of state buyers) while Amazon allows me to collect sale tax from IL resident only with my IL Tax number?
Thank you again

Offline S209

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Re: any accountants out there that i can ask a question?
« Reply #1648 on: December 26, 2018, 02:37:57 PM »
Thank you. My question is how I can comply with IL Dept of revenue sale tax requirement (to collect 10.25% from IL buyers and 6.25% from out of state buyers) while Amazon allows me to collect sale tax from IL resident only with my IL Tax number?
Thank you again
Are you saying you don't have an Illinois Tax ID number? Why don't you have one?
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Offline RavChik

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Re: any accountants out there that i can ask a question?
« Reply #1649 on: December 26, 2018, 03:53:32 PM »
Are you saying you don't have an Illinois Tax ID number? Why don't you have one?

I do have one. With the IL tax id, the IL Dept of revenue requires me to collect tax from all online customers (10.25% from IL resident and 6.25% from out of state), but Amazon State Tax setting allows me to collect from IL residents only

Offline gozalim

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Re: any accountants out there that i can ask a question?
« Reply #1650 on: December 26, 2018, 03:56:50 PM »
why not bake 6.25% into your selling price?

Offline RavChik

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Re: any accountants out there that i can ask a question?
« Reply #1651 on: December 26, 2018, 05:57:21 PM »
why not bake 6.25% into your selling price?

Possibility, but the price will be higher and i will be less competitive. As I learn more this subject it is possible that I am obligated to pay to states where buyers from.
It is very new and unclear

Offline S209

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Re: any accountants out there that i can ask a question?
« Reply #1652 on: December 26, 2018, 11:59:15 PM »
Possibility, but the price will be higher and i will be less competitive. As I learn more this subject it is possible that I am obligated to pay to states where buyers from.
It is very new and unclear
Yeah I donít understand, why would Illinois be charging you tax for sales to other states? Iím not close to being an accountant, but I didnít realize the law was changing in that regard at all, I thought it was the other way- states being able to charge tax for goods purchased in their state from out of state sellers.
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Offline RavChik

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Re: any accountants out there that i can ask a question?
« Reply #1653 on: December 27, 2018, 12:34:49 AM »
Yeah I donít understand, why would Illinois be charging you tax for sales to other states? Iím not close to being an accountant, but I didnít realize the law was changing in that regard at all, I thought it was the other way- states being able to charge tax for goods purchased in their state from out of state sellers.

Thank you. I also do not understand that, but I need to comply with this rule

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #1654 on: December 27, 2018, 07:33:05 AM »
There got to be a way for you to register as a foreign seller

Offline RavChik

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Re: any accountants out there that i can ask a question?
« Reply #1655 on: December 27, 2018, 01:31:24 PM »
There got to be a way for you to register as a foreign seller

I think my other option is to get Tax number in all other states, insert them in the Amazon State Tax setting and let Amazon to collect tax for each state and I will need to remit these sale tax to each states monthly/quarterly/yearly according to each state. In this case I can show those payments to the State of IL to avoid double taxation.

This route seems to be very time consuming for relatively small Amazon store. Is that how other Amazon seller proceed to comply with the tax law?

Offline churnbabychurn

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Re: any accountants out there that i can ask a question?
« Reply #1656 on: December 27, 2018, 01:57:59 PM »
I think my other option is to get Tax number in all other states, insert them in the Amazon State Tax setting and let Amazon to collect tax for each state and I will need to remit these sale tax to each states monthly/quarterly/yearly according to each state. In this case I can show those payments to the State of IL to avoid double taxation.

This route seems to be very time consuming for relatively small Amazon store. Is that how other Amazon seller proceed to comply with the tax law?
Of course not

Offline RavChik

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Re: any accountants out there that i can ask a question?
« Reply #1657 on: December 27, 2018, 02:15:35 PM »
Of course not

Probably not, but how other Amazon seller comply with Sale tax requirement?

Offline dovy2

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Re: any accountants out there that i can ask a question?
« Reply #1658 on: December 30, 2018, 07:51:47 PM »
New question:
I run a nonprofit shul.. as a cong. We don't file a 990.
I remember hearing once something about once you hit a certain threshold (I seem to remember 150k) in donations, something changes..
Anyone here can shed some light on this?

Offline michal613

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Re: any accountants out there that i can ask a question?
« Reply #1659 on: January 02, 2019, 09:13:34 AM »
I posted this on another thread: https://forums.dansdeals.com/index.php?topic=10448.new#new
I used to work for a public accounting firm in NYC, now I work for www.shtotty.com which is like a Jewish Amazon (free to post your products - but a fully moderated site for Jewish and Israeli related products).  We tell Sellers that they can do whatever they want with their taxes, because we treat our site like the equivalent of a newspaper.  When you post in a newspaper classified you don't expect the newspaper to have anything to do with your taxes.  You report and deal with your own taxes, and you can deduct the ad fees as a business expense.  Same with Amazon or shtotty.  What do you think?