Author Topic: any accountants out there that i can ask a question?  (Read 123752 times)

Online 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

Online 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?

Online 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?

Offline yitzf

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Re: any accountants out there that i can ask a question?
« Reply #1660 on: January 02, 2019, 10:08:26 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?
Not so simple, the states want their money and some are putting the responsibility in the marketplace. Research 'Marketplace Facilitators'.
For example see https://www.state.nj.us/treasury/taxation/remotesellers.shtml

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Re: any accountants out there that i can ask a question?
« Reply #1661 on: January 03, 2019, 03:35:49 PM »
Looking for help in GIK (Gifts in Kind) assessments. How does an assessment work on an item that doesn't easily have a retail price?

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Re: any accountants out there that i can ask a question?
« Reply #1662 on: January 06, 2019, 12:48:38 PM »
Looking for help in GIK (Gifts in Kind) assessments. How does an assessment work on an item that doesn't easily have a retail price?
Anyone?

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Re: any accountants out there that i can ask a question?
« Reply #1663 on: January 06, 2019, 01:50:54 PM »

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Re: any accountants out there that i can ask a question?
« Reply #1664 on: January 06, 2019, 08:43:35 PM »