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Reducing Tax Liability for Amazon Sellers


This topic is suitable for business owners.
Cost Free
Presentation Length 1.0 hour

Recorded DateApril 20, 2022
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaProduction
Course LevelBasic
Series: Bookkeeper
Course Description

If you or your client sells on Amazon and uses QuickBooks, you may not know how to maximize tax deductions. Most Amazon sellers pay unnecessary taxes because they are not aware of how to properly map fields between Amazon and QuickBooks.  Without accurate field mapping between Amazon and QuickBooks:

  • You will have incorrect cost of goods sold (COGS) recorded for your Amazon sales

  • Sales taxes will be mapped improperly

  • Refunds may not be correctly recorded, resulting in additional taxes

  • You may have to manually correct QuickBooks, leading to additional costs

In this session, you will get an overview of accurate accounting in QuickBooks for Amazon sellers to maximize tax deductions. 

Learning Objectives:

  • Summarize the different types of Amazon fees

  • Recognize how product matching affects tax liability

  • Identify correct field-mapping practices to minimize tax liability

  • Determine how automation can help you minimize tax liability

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Joseph Anderson founded Sync with Connex in 2010 at age 25 with a $20 investment. In his previous employment as a software developer, he noticed that an intern spent hours every day manually entering data into QuickBooks, and his employer was losing money as a result. Joseph founded Sync with Connex to free accounting professionals from manual data entry. Joseph has helped over 5,000 business owners and accounting professionals since 2010 and has turned his $20 investment into $10 million dollars in revenue. Joseph is the author of "The $20 SaaS Company: From Zero to Seven Figures Without Venture Capital" published in 2021. 

About Our Presenter

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Sync with Connex offers software integration tools to automatically sync your e-commerce sales channel, shipping solution, CRM, and more to QuickBooks Online and Desktop. With advanced duplication prevent features, our automation tool eliminates manual data entry. In addition, our tool presents an accurate report of profit and loss while managing inventory, mapping customer order history, and accurately tracking your business sales and expenses.