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Be very careful doing our own Amazon taxes!
 

Just a heads up that your Amazon gross does NOT include Amazon fees. You have to take your gross minus your deposits and whatever is left over are deductible Amazon fees.

Re: Be very careful doing our own Amazon taxes!
 

Amazon fees are not tax deductible. That is why the fees are not in the tax report. Same goes with any selling platform.

Re: Be very careful doing our own Amazon taxes!
 

Of course the fees are deductible. It`s a cost of doing business. To take OPs point further, you take your gross sales and deduct all associated expenses (ie, AZ fees, refunds, postage, shipping supplies, home office expense or rent if you lease commercial space, auto expenses for driving to the post office, etc, etc... you get the point.

Re: Be very careful doing our own Amazon taxes!
 

Exactly. Fees on Amazon, Ebay, etc. are always deductible. Sorry to the guy who has been paying taxes on them fees all along.

Re: Be very careful doing our own Amazon taxes!
 

LOL

Yeah!

Re: Be very careful doing our own Amazon taxes!
 

I will ask my accountant about this. I have asked him every year and he says its not, everything else yes but not this. If not I will ask another accountant.

Re: Be very careful doing our own Amazon taxes!
 

Are you talking about Income tax?
Or are you talking about business tax?

Re: Be very careful doing our own Amazon taxes!
 

Hes talking about fees that amazon charges you when you make a sale on amazon. These expenses are deductible I thought. Saying its not deductible is like saying advertising and marketing fees of any business is nondeductible as well. Its best to consult with more than one tax advisor in this situtation. You got to approach these people the same way you approach ebay reps.

Re: Be very careful doing our own Amazon taxes!
 

Definitely that accountant is giving bad information.

And to echo zoneout's post earlier, there are many other areas that are tax deductible for a business that you must be aware of (if not, at the very least, your accountant).

Get your billion $ back America!!!

(and no, I didn't go to HR Block)

Re: Be very careful doing our own Amazon taxes!
 

Which is EXACTLY why the forum says to get tax advice from a skilled professional.

Start with

www.irs.gov

It's user friendly and free to use. Amateurs on forums are not the go to people for this judging by a couple of posts.

Good Luck

:mod:

Re: Be very careful doing our own Amazon taxes!
 

GB I would close this thread as people here are not accountants. Seek the professionals for help not a forum!!!!!

Re: Be very careful doing our own Amazon taxes!
 

Yeah, but the problem is that it`s an accountant giving bad advice - not the members here.