Online Boutique Taxes | How to Prepare For Tax Season
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- čas přidán 21. 07. 2024
- Taxes for Online Boutique Owners | How to Prepare For Tax Season
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Disclaimer: Always consult with an attorney, business advisor, or tax advisor regarding taxes and business advice. This video is only coming from my own personal experiences and is not to be taken as legal or tax advice.
Disclaimer: This is not a sponsored video. I am a proud affiliate partner with Bench. Links with a * are affiliate links which means I may make a commission if you decide to purchase at no extra cost to you. These are all tools and products that I have used or am currently using for my own business and highly recommend. I hope you find it helpful! -Monika Rose - Jak na to + styl
Can’t wait for the masterclass! Who’s coming? 🙋♀️
I'm either dumb or overwhelmed bc I still am confused 🥺 taxes are so hard to understand
Your videos are so helpful! Mindset definitely helps, I was so nervous about my first months taxes, but your tip about mindset really helped calm my nerves! Thank you 💕
Such a helpful video to watch going into my first tax season for my online shop!
This was SO helpful!! I was searching on the internet for a few hours trying to figure all of this out.
THANK YOU
You’re welcome! I’m so happy you found it helpful. Thanks, Alexis. 🤗
you are absolutely AWESOME! THANK YOU!!
This just took a huge weight off my shoulders, thank you!!
Same!!! Its all slowly coming together lol
How would this work if I'm from Washington state and my inventory is coming from California. How I'll sales tax come into place?
Also, when filing my taxes, do I have to include the sales to states where I can't charge taxes or do I only file for the state that I can, such as my home state. I don't want to file incorrectly and have to pay the state a ton of unnecessary money.
When filing my monthly taxes, will I be charged fees for sales in states where I can't charge taxes?
If you have 3 different dropshipping stores do you have to pay tax for each one,, and does each one has to be registered
What about things bought from China?
If your just now starting a business I don’t know if this is a good investment before you even make any sales. Is there a way to keep this information yourself .
I have a small business. Do you recommend bench for ecommerce platforms such as ebay, mercari, etsy, offerup? Also My business is small so it doesn't take much time to do the
bookeeping, so i do it myself. And would you be fine if you file your own taxes, or would you recommend hiring a cpa?
Hey great video but im still very lost lol maybe you can help. I created a shirt brand in 2019. Got my LLC and EIN. Made some sells and manually wrote down my expenses and profits. Had a shopify store but closed it last year. I didnt get to file since I started because I honestly didn't know how or knew what I needed. Should I still get the sellers permit just to have? I just want to finally file my taxes and be done with the stress🤦🏿♂️
What if you have to pay taxes like in a week but you still haven’t launched your business do I still have to pay ?
THANK YOU SO MUCH
So glad you found it helpful! Taxes can be stressful. So happy Bench now offers additional tax services. :)
As a boutique owner buying wholesale am I considered a marketplace facilitator ?
Can you talk about wether you should do cash or accrual for an online boutique and a calendar year vs fiscal?
You should use the accrual method if you have inventory.
How much is this I hear everything but the price of this.
Hi I love the video! I want to start my own online boutique and I had a question , if I bought from wholesale cites that don’t require a sellers permit , would I still have to pay taxes but I have an EIN
I seen that you don’t pay taxes if you buy from wholesale. literally just watched a video on it.
You don’t pay the wholesalers the tax but you still owe the government those taxes
Who can I have / What business has an online service that covers payroll/tax comined?
What form do you technically apply for if your an online boutique or beauty product seller?
Hi! Did you figure out this information? If so, please share if you don't mind.
Something I haven't been able to find a clear answer to is:
I live in Alabama and I run an online boutique (ran through shopify). I already have my resale certification and am able to charge Alabama taxes.
My question is, since I am selling all around the world, especially in the USA, do I need to apply to each state in order to charge taxes for the state or do I only need to charge taxes to Alabama customers since my home business is in Alabama and I pay Alabama business taxes?
I ask because bigger companies like Shein charge sales tax for every state (from what I know) and they are an online clothing store. I doubt they have warehouses in every state so it makes we wonder if I need to apply to every state to be able to charge sales tax with them?
@@venuspoynor4125 did you ever get your answer? because i am on the same boat as you in these questions right at this moment
Is the sellers permit considered the buisness liscence? Also wholesalers doesn’t charge tax, how do you go about keeping up with those taxes that you’ll owe
A seller’s permit is separate from a business license. You can set aside taxes collected once you sell the item. 😊
Got it! Do I need a county and state liscence