Accessing, Interpretting, and Explaining Amazon FBA Tax Reports
As an Amazon Seller one of the biggest struggles is understanding and staying on top of federal income taxes and state sales tax. In this video I demonstrate how to download and interpret Amazon FBA tax reports. Fortunately, just about every state in the US has enacted the marketplace facilitator tax laws, which means that Amazon is required to collect and pay sales tax to the state on your behalf. This does not however excuse you from reporting your sales to the state. This video will help you understand how to not only download and interpret your 1099 for federal income tax purposes, but how to download sales tax reports so that you know exactly what to report to the state that you are licensed in as a retailer. PLEASE NOTE: I am not a CPA and you should consult a CPA if you are unsure about how to file and pay your taxes.
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