Don’t let Amazon business tax hold you back – Conquer compliance with a pro!
Are tax complexities hindering your Amazon business’ growth and compliance?
Don’t let tax challenges slow down your Amazon agency’s success.
Discover how expert tax advisors can simplify your tax strategy and ensure compliance, letting you focus on scaling your business.
Our Amazon Agency aims to be your one-stop shop for growth, and so we bring you this post that unveils the top tax and accounting firms specifically catering to Amazon businesses. PLUS we’ll equip you with the knowledge to prepare for seamless collaboration and optimize your Amazon business tax compliance and strategy.
Amazon Business Tax Compliance And Strategy: Who To Partner With
hellotax
- Empowers Amazon FBA sellers by simplifying VAT compliance, a major pain point for businesses selling across borders.
- Founded by experienced sellers, hellotax leverages its deep understanding of Amazon FBA to provide seamless VAT solutions for sellers of all sizes.
Services offered:
- One-Stop-Shop
- VAT Software
- VAT Solution
- Germany Local Accounting Services
Taxomate
- Streamlines e-commerce accounting by automating data entry from your sales channels to your accounting software, saving you time and minimizing errors for tax season.
- Focus on growing your business, not your bookkeeping. Taxomate automates data entry, giving you clear financial insights to maximize profits and simplify tax filing.
Amazon accounting integrations with:
- Xero
- QuickBooks
- Wave
TaxJar
- Now part of Stripe, automates the entire US sales tax lifecycle for e-commerce businesses, saving them time and ensuring accurate filings across complex jurisdictions.
- Providing services to over 20,000 businesses, its cloud platform tackles the tedious tasks of sales tax compliance, from calculations to multi-state filings.
Products Offered:
- Sales Tax Compliance Platform
- Real Time Calculations
- Filing and Remittance
- Nexus Insights
- Sales Tax Reports
- Integrations
A2X
- Eliminates the headache of e-commerce accounting by automatically reconciling sales data from major platforms with QuickBooks or Xero, saving you hours and giving you clear financial insights to grow profitably.
- Driven by the frustration of managing e-commerce finances, A2X launched in 2014 with a core principle: simplifying e-commerce accounting for all.
Offers Amazon integrations with:
- Quickbooks
- Xero
- Netsuite
Quaderno
- Automates global tax compliance for e-commerce, digital creators, SaaS, platforms, and marketplaces to eliminate manual calculations, ensure accurate tax collection across borders, and streamline the entire sales tax, VAT, and GST process.
- Handles everything – from real-time liability tracking to automatic tax calculations on every sale, all within a user-friendly platform that integrates seamlessly with your existing tools.
Products Offered:
- Registration
- Calculation
- Reporting & Filing
- Invoicing
- Checkout
- Connect
- Integrations
Taxback International
- Taxback International simplifies global VAT compliance for businesses of all sizes, offering innovative technology and expert guidance to ensure seamless tax management wherever you operate.
- Trusted by over 12,000 clients, Taxback International takes the complexity out of global VAT with a combination of cutting-edge tax technologies and expert consultancy services.
Services offered:
- VAT Consultancy
- VAR Registration
- AP Audit Review
- VAT Reclaim
- Global Payments
- Cross-Border VAT Compliance for Accountants
Avalara
- Trusted by over 30,000 businesses, their software automates tasks, leverages a massive global tax database, and prioritizes data security, all while helping you reduce costs and ensure accuracy.
- Avalara’s cloud-native software automates tax compliance, offering cost-effective solutions for businesses of all sizes and global reach to streamline your tax operations.
Featured Products:
- Avalara AvaTax
- Avalara Returns
- Avalara Exemption Certificate Management
- Avalara E-Invoicing and Live Reporting
- Avalara Cross-Border
- Avalara Business Licenses
- Avalara Sales Tax Risk Assessment
- Avalara Tax Research.
Offered Integrations for: Shopify, Microsoft, NetSuite, SAP, QuickBooks, Sage, Adobe Commerce, and more.
Vertex
- Vertex empowers businesses of all sizes to navigate complex tax landscapes with confidence across 195+ countries, leveraging over 700 million effective tax rules and the trust of 60% of the Fortune 500.
- It offers scalable solutions for businesses of all sizes.
Offered Products:
- Vertex O Series
- Vertex O Series Edge
- Vertex PDF Returns
- Vertex Chain flow Accelerator for SAP
- And more
Greenback
- Greenback specializes in simplifying US expat taxes and has filed over 61,000 tax returns.
- Their team of experts helps navigate complex filing requirements, ensuring compliance for over 18,000 US expats living abroad.
Services Offered:
- Federal Tax Return Preparation
- Streamlined Filing Package
- State Tax Return Preparation
- Foreign Bank Account Reporting
- FATCA Reporting
- Small Business Tax Return Preparation
- Late Tax Return Preparation
TaxCloud
- TaxCloud simplifies sales tax compliance for businesses of all sizes, offering automated calculations and filing with guaranteed accuracy across all 13,000+ US jurisdictions, saving you time and ensuring peace of mind.
- It automates the entire process, guaranteeing accuracy in every US jurisdiction so you can focus on running your business.
Sales Tax Integrations:
- BigCommerce
- Shopify
- Odoo
- WooCommerce
- Magento
- PrestaShop
- Quickbooks
- And more
Offered Products are Sales Tax Calculation and Sales Tax Filing
TaxValet
- TaxValet acts as your dedicated sales tax department, ensuring compliance across all 50 states for growing businesses. Their expert team handles everything from nexus identification to audits, saving you time and money.
- It offers a worry-free solution with a 360° audit guarantee and unlimited transactions, allowing you to focus on growth while their experts handle all your sales tax needs.
TaxValet tackles your sales tax woes in 3 steps:
- Fix It: They uncover past/present tax issues & craft a plan to resolve them.
- Set It: They connect to your systems & manage everything for all 50 states.
- Forget It: Focus on growth – they handle the rest!
TaxConnex
- TaxConnex offers a safety net.
- It acts as your outsourced sales tax department, helping you determine nexus, manage ongoing compliance, and navigate audits – all with dedicated practitioner support.
Offered Services:
- Sales Tax Filings and Payments
- Notice Management
- Penalty and Interest Indemnification
- Sales Tax Registrations
- Ad-hoc Sales Tax Support
TaxOps
- TaxOps leverages seasoned Big Four tax experts to craft practical, growth-oriented solutions.
- Their fixed-fee structure empowers you to navigate the complexities of tax without surprise bills, ensuring your business thrives.
Offered Solutions:
- Federal Tax
- State and Local Tax
- Tax Minimization
- ASC 740
Sales Tax DataLINK
- Sales Tax DataLINK supercharges your Enterprise Resource Planning (ERP) with accurate, automated sales tax calculations.
- Their flat-fee model and optional managed service empower businesses of all sizes to simplify compliance and save time.
Services Offered:
- Tax Registration
- Voluntary Disclosure Agreements
- Exemption Certificate Management
- Reverse Audits
- Nexus Studies
- Related Services – Taxability Studies, Annual/Business Reporting, and Consulting with US-based CPAs and Accountants.
Sovos
- Sovos empowers businesses of all sizes to navigate complex global tax landscapes with confidence.
- Their award-winning cloud platform, industry-leading expertise, and global reach ensure seamless compliance and transform compliance into a strategic advantage.
Offered Services:
- Value-Added Tax
- Sales & Use Tax
- Tax & Regulatory Reporting
- Shipping & Distribution Compliance
Choosing an Amazon Business Tax & Accounting Firm
Here are the key reminders for an Amazon seller when choosing a tax and accounting firm:
Expertise in E-commerce & Amazon
Look for a firm with experience in handling the unique tax complexities of e-commerce businesses, specifically those selling on Amazon. This includes understanding FBA, sales tax nexus, and international sales regulations.
Technology Integration
Choose a firm that leverages technology to seamlessly integrate with your existing e-commerce and accounting platforms. This will streamline data transfer and minimize manual entry errors.
Scalability
Select a firm that can grow with your business. As your Amazon sales increase, your tax needs will become more complex. Choose a firm that can handle your current and future needs.
Communication & Transparency
Find a firm that prioritizes clear and regular communication. You should feel comfortable asking questions and understanding the tax implications of your business decisions. Transparent pricing structures are also important, especially when dealing with ongoing tax compliance.
Cost vs. Value
Consider the value a firm brings beyond just tax filing. Look for firms offering additional services like financial planning, bookkeeping assistance, or tax optimization strategies. While cost is important, prioritize the overall value they provide for your business.
Client Reviews & Reputation
Research the firm’s reputation and read client reviews. Look for positive feedback on their expertise, communication style, and responsiveness to client needs.
Preparing for Seamless Collaboration with an Amazon Business Tax & Accounting Firm
Before Contacting a Firm:
1. Gather Your Records
Organize your business documents, including tax forms (1099s, W-2s), bank statements, sales records, inventory details, and Amazon settlement reports.
2. Understand Your Needs
Identify your current needs and future goals. Are you mainly looking for tax filing assistance, or do you also need bookkeeping, tax optimization strategies, or financial planning advice?
3. Prepare Questions
Develop a list of questions for potential firms like their experience with Amazon sellers, fee structures, technology integration capabilities, communication style, and availability for consultation.
During Initial Contact:
1. Be Transparent
Provide a clear picture of your business model (FBA vs. FBM), product categories, sales volume, and any existing tax concerns you have. The more transparent you are, the better the firm can tailor their services to your needs.
2. Discuss Technology
Ask about their technology solutions and how they integrate with your current e-commerce and accounting platforms. This will minimize manual work and streamline data exchange.
3. Fee Structure Clarity
Ensure you understand their fee structure (flat fee, hourly, etc.) and what services are included. Discuss any potential additional costs for specific services.
Optimizing Amazon Business Tax Compliance & Strategy
Here are some key things to do to optimize your tax compliance and strategy as an Amazon seller:
Tax Compliance
Track Sales Tax Nexus
Understand the sales tax nexus rules for every state you sell in. This will determine if you need to register for and collect sales tax. Use resources like the Sales Tax nexus map from https://www.streamlinedsalestax.org/.
Maintain Accurate Records
Keep meticulous records of all your income (sales, refunds) and expenses (inventory, advertising, shipping). Consider using accounting software to automate data entry and simplify record-keeping.
File Taxes on Time
Never miss deadlines for filing your federal and state income taxes, as well as any applicable sales tax returns. Late filing penalties can be significant.
Tax Strategy
Maximize Deductions
Work with your accountant to identify all eligible business expenses you can deduct from your income, such as advertising costs, product sourcing, shipping fees, and home office expenses (if applicable).
Consider Entity Structure
Consult with your tax advisor on the best business entity structure for your situation (sole proprietorship, LLC, S corporation, etc.). Each structure has different tax implications.
Stay Up-to-Date
Keep yourself informed on changing tax regulations and e-commerce tax laws. Your tax and accounting firm can help you stay updated on relevant developments.
In Conclusion
Don’t let tax season be a roadblock on your journey to Amazon domination. With the insights from this post, you can leverage the combined expertise of top tax and accounting firms and gain the knowledge to collaborate effectively.
This one-two punch sets you up for seamless tax compliance and a streamlined strategy, freeing you to focus on what you do best: crushing your Amazon goals. So, take advantage of this valuable resource, partner with a tax pro, and watch your Amazon business soar!
