Amazon taxes
Hi there fellow sellers,
So next year I will be filing my tax first time. I would like to know which Amazon expenses should I keep in my bookkeeping for my income tax credits?
Just FYI: I have all my tax numbers registered in Amazon system.
Thank you.
Amazon taxes
Hi there fellow sellers,
So next year I will be filing my tax first time. I would like to know which Amazon expenses should I keep in my bookkeeping for my income tax credits?
Just FYI: I have all my tax numbers registered in Amazon system.
Thank you.
7 replies
Seller_y7W9ccUlauftE
ITC - sales tax paid on AZ selling fees qualify. The non-tax portion of the fees are a selling expense.
Daryl_Amazon
Hey @Seller_9ESGZSEmjn9jS,
When preparing your taxes, here are some tips on Amazon expenses to track:
- Referral fees, FBA fees, and other selling fees paid to Amazon should be tracked as business expenses. The fees themselves (non-tax portion) are deductible expenses.
- Any sales tax you paid on those fees is eligible for the Input Tax Credit (ITC). Make sure to keep records of any sales tax paid.
- Other deductible expenses can include inventory costs, shipping & fulfillment costs, advertising, professional services, etc. Track all business-related expenses.
Refer to Amazon's help pages on tax information for more details:
Daryl
