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You May Be Overpaying on Amazon Sales Tax

Can you imagine overpaying on Amazon sales tax to the tune of $500,000? As crazy as it sounds, it actually happened. And we know because we were the ones who caught the mistake! This particular seller—who was NOT a tax client of ours during this time period—had fallen behind on their bookkeeping and hired us…

How to Cope with a Failed Business

To say that COVID-19 devastated the U.S. economy is an understatement. According to Yelp’s Local Economic Impact Report, nearly 100,000 American businesses that temporarily shut down due to the pandemic are now permanently shuttered. That’s a lot of broken dreams. That’s a lot of lost money. And that’s a lot of people who are desperately…

The Amazon Seller’s Guide to Getting Reviews in 2021

Did you know that 92.4% of consumers are more likely to purchase a product if they can read a credible review of it first? It’s statistics like these that illustrate just how important product reviews are. And yet, customer reviews are not easy to obtain—particularly for Amazon sellers.  According to LandingCube.com, the average review rate…

PPP Round 2: Everything You Need to Know

If you’re a small business owner struggling to stay afloat during the pandemic, hang tight because help is on the way. The U.S. Treasury and Small Business Administration (SBA) have reopened the Paycheck Protection Program (PPP), but with some notable differences this time.  Officials have introduced new terms and conditions that are designed to quell…

Fulfillment Options for Amazon Sellers

As an Amazon seller, some of your biggest operational costs will revolve around fulfillment, which involves storing your inventory, packing it, shipping it, and managing returns. It’s an important service no e-commerce seller can go without. As such, it’s worth re-evaluating what your options are to ensure you’re getting the service you need at a…

Calculating and Reporting Year-End Inventory

What Is Your “Year-End Inventory Value”? This is the total dollar value of all products in your warehouses as of the end of your fiscal year. We adjust your inventory account in QuickBooks to ensure the balance in your warehouse matches the balance in QuickBooks. Why Do We Do This? We do not have direct…

Filing 1099s- Who Gets One?

It’s the 1099 time of year again! But what does that mean and who should pay attention? Read on to find out! First off, it’s not the 1099 you’re used to this year! Of course with everything else going on in 2020, the IRS decided to throw one more curve ball and change the decades-old…