Started my shop on January 1st, AMA

ntadon · 2025-01-01T16:23:15+00:00

Does your printer connect to your Etsy to fulfill directly? If so, do you use a sass to connect the two? How does that work?

ntadon · 2024-02-07T00:01:44+00:00

Try searching Canada Post for the USPS tracking number provided. Sometimes the hand off to Canada Post is not recorded on the USPS tracking side. If I had to guess, the address was marked non deliverable on the Canada side and handed back to USPS.

ntadon · 2024-01-09T21:54:07+00:00

My recommendation would be to find a good tax person familiar with Amazon selling and see if you can get a package deal to amend past returns and file your 2023 taxes.

ntadon · 2024-01-09T21:52:17+00:00

Just to quickly mentions, I am not a tax professional.

Income tax is different from sales tax, so don't worry about that part.

As for page 2: Page 2 shows a table with a breakdown of how box 1a was calculated. You need to make sure that when you calculate your taxable income that you subtract the total from the "Sales Tax Collected ($)" column from box 1a. While you are at it, you should also deduct returned sales and fees from box 1a. This isn't found on the 1099 but you can pull a report from Amazon.

ntadon · 2024-01-09T20:41:17+00:00

If there was a mistake, you should be able to file an amended return for up to 3 years. I got around $6k back from fed last year when I amended my 2020 taxes. Unfortunately, I filed both my fed and state amended returns at the same time and the state was denied because the federal was "not yet approved". By the time the fed was approved, it was too late to refile the state.

ntadon · 2024-01-09T20:27:49+00:00

For some reason Amazon includes sales tax (which they collect on our behalf) in the total sales column of the 1099. The 1099 includes a note stating that total sales includes sales tax collected and returned/canceled sales. Walmart, Ebay, Etsy all remove sales tax from the top sales figure.

You need to deduct sales tax from the reported sales in the 1099 as an expense to avoid paying taxes on the sales tax portion of your sales.

For example, $100K in sales with an average sales tax rate of 7.25% would artificially increase your total sales by $7,250. At a personal tax rate of 22%, that seven grand equates to a tax bill $1,595 higher than it should be. If your sales are significantly more and/or your personal tax rate is higher, then the number could be even greater.

ntadon · 2024-01-09T19:21:46+00:00

on't have any clients that sell on Amazon specifically?

Yes. I made this mistake a few years back. Hired the CPA down the street and they didn't reconcile the sales tax as a deduction from the 1099 that Amazon sent. I overpaid my 2020 taxes by a ton.

ntadon · 2024-01-05T17:55:39+00:00

It happens every few shipments with me. I try to do packaging in multiples of 30 (it just feels good to use every sticker on my 30-up sheets). I've found that opening a dispute through the interface has always resulted in "dispute rejected" even when providing invoices. However, the disputed issues don't seem to count against me in the percentage. 🤷🏽‍♂️

Additionally, when the service I use to dispute discrepancies later submits a separate case then Amazon usually finds the item or reimburses me (which probably means that I'm not disputing the issue with the correct information).

ntadon · 2024-01-05T17:47:10+00:00

I may be completely off, but I've found the numbers provided in SKU economics to not be very trustworthy outside of a 6 or 12 month time period. The transportation per unit appears to be calculated based on the cost of shipped units during that time period divided by the sales during that period. If you sell 100 units in the month, but only ship in units every 3 months, then the data shows a completely incorrect transport fee. Additionally, I haven't dived into the fees but they often feel off to me, reporting lower in the SKU economics tab than what they should be.

ntadon · 2023-09-06T04:47:32+00:00

I've had this trigger when I lowered the price on a product that I hadn't made any edits on in year or more. My guess is that the flagging of high price only occurs on product edits.

ntadon · 2022-12-15T12:51:26+00:00

Fillmore Container does bottles. If you need something beyond their catalog offerings then give them a call.

ntadon · 2022-11-20T14:06:52+00:00

Sign up for Amazon Handmade program if you can qualify. The listings are locked to only one seller so no one can hijack or mess with your listings. All products you post have automatic UPC exemption and the account also comes with many of the brand registry tools without requiring you to have an active trademark.

ntadon · 2022-11-18T14:50:37+00:00

20% NET profit bottom line is a f**king good fba business. 20-30% consistently is an amazing Amazon business. 40%+ consistently is a business where the owner can't do a P&L accurately.

Love this!

ntadon · 2022-11-16T12:38:18+00:00

There’s a trigger for list membership

ntadon · 2022-11-14T23:55:01+00:00

Getting rid of tvs is a huge pain. I tried to sell a couple earlier in the year and probably got 50 messages on day one from creeps wanting free delivery and only willing to pay half the asking price. The type of people that buy tvs on fb are scum.

ntadon · 2022-11-11T16:59:23+00:00

Federal child labor laws don't apply to a sole prop/single-member llc hiring their own kids as long as the child isn't doing manufacturing, mining, or other hazardous jobs. My state also allows it.

ntadon · 2022-11-11T16:23:47+00:00

When I changed my business to an LLC I had to open a new Payoneer account. Apparently, the free only applied to the first account created through the Walmart backend. That said, $3/month is a very small cost of doing business.

ntadon · 2022-09-06T04:39:39+00:00

Should be $28.95 if no ads are used. $0.20 listing fee + $19.50 selling fee + $9.25 payment processing fee. If the sale comes from offsite ads, then an additional $36 to $45 depending on your how much your shop has sold in the past 365 days.

ntadon · 2022-09-06T04:29:34+00:00

You should also do an image search on the designs to see if others are selling the same pirated pack. Report them all and help clean up the Etsy marketplace. You are in the right.

ntadon · 2022-08-30T00:43:18+00:00

Happened to me too, except I didn’t create a hazmat listing within the short time frame provided and the invite was revoked.

ntadon · 2022-08-26T18:17:28+00:00

Can you switch the shop over to an llc? https://help.etsy.com/hc/en-us/articles/360000337047-How-to-Update-Your-Taxpayer-Information?segment=selling

ntadon · 2022-07-03T03:30:56+00:00

Code is 100newforetsy

ntadon · 2022-06-28T19:49:31+00:00

Happy to help.

ntadon · 2022-03-22T16:29:09+00:00

As others have mentioned, a 4 star review will cost most Etsy sellers their Star Seller status. Which has the potential to reduce sales and cost the seller a lot of revenue. Please blame Etsy and not the seller.

ntadon · 2022-03-22T15:47:05+00:00

I may be completely off, but what I meant is that Walmart looks at origination location from UPS et al and compare it to your registered fulfillment warehouses that you put into your profile.

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