Tax File
I have a job with w2. If i start selling on amazon individually
So first of all i will get 1099 from this.
So do i have to do tax file separately or together and do i have to sales tax file also? As i am doing individually.
And second if i do with professional account
Then what i have to do? if i sell with professional account, do i need a llc must?
Tax File
I have a job with w2. If i start selling on amazon individually
So first of all i will get 1099 from this.
So do i have to do tax file separately or together and do i have to sales tax file also? As i am doing individually.
And second if i do with professional account
Then what i have to do? if i sell with professional account, do i need a llc must?
0 replies
Seller_nRFmxiQg4EGrw
I would strongly advise you to consult an accountant, to examine your particular situation, as well as advise you on bookkeeping requirements that you need. Handling taxes is not overly difficult, but can be a bit tricky; and the cost of getting it wrong is far greater than the cost of consulting an accountant.
With the exception of MO, Amazon collects and remits sales tax on all sales; however, you will probably have to file a return in your state to report total sales, and zero due; the specifics vary from state to state. Again, ask your accountant, but be sure they understand Marketplace Facilitator tax laws (meaning Amazon handles the money).
Amazon does not require you to have an LLC to have a Professional account.
Amazon will issue a 1099 if you sell enough; for most states, the threshold $600; however, even if you do not receive a 1099, you must report all income (and also deduct your expenses and losses)
Cooper_Amazon
Good Evening @Seller_3hVTkwN3PJIdw, it looks like you were able to get some feedback from @Seller_nRFmxiQg4EGrw around taxes and having a professional selling account.
If their reply helped you, feel free to mark it as “Most Helpful reply” using the 3 dots in the corner of their post. This helps other sellers find the answer to your question at the top of the post just in case they find themselves in a similar situation.
I additionally wanted to share a few Amazon Seller Central resources around taxes and having a professional selling account:
The information provided on this page does not constitute tax, legal, or other professional advice and must not be used as such. You should consult your professional tax advisor if you have questions about your personal tax obligation.
In regards to learning more about a professional selling account, please review this help page HERE.
If you would like to upgrade from an individual selling plan to a professional selling plan feel free to use, THIS page in the future.
Let us know on this discussion if you require additional assistance or you can always contact Selling Partner Support with inquiries at anytime. Have a great rest of the week! ~ Cooper_Amazon
