Saving a Huge Amount of Cash on Your Taxes - SellerPlex

EPISODE 5: Saving a Huge Amount of Cash on Your Taxes with Aran Quinn

save a huge amount of cash on your taxes

Tax attorney and CPA, Aran Quinn, shares with us everything FBA and eCommerce sellers need to know about tax compliance, rules and regulations to note, and the breakdown of responsibilities of your accounting team. As well as tips and suggestions for a seamless and profitable exit.

SAVING ON YOUR TAXES – WHAT YOU’LL LEARN

  • Role of a Tax Accountant
  • Tax compliance for FBA’s
  • Key financial points to consider when exiting
  • Common mistakes in Tax Planning

KEY POINTS

  1. The Tax Accountant comes in whenever there are tax problems that need to be resolved. The tax accountant’s concern is ensuring the cash flow is preserved while taxes are paid. The position is especially needed by a booming business.
  2. Taxes of FBA are dependent on its jurisdictional presence or where the FBA is physically located. However, it is important to be aware of other taxes that may be levied which transcends physical presence.
  3. It is important to get finances in order for eventual exiting. Preferably, get the services of a professional who will work on the records 90 days before the transaction for exiting takes place.
  4. One of the biggest mistakes of entrepreneurs is taking track of their investments; this would have an impact on the final tax they need to pay upon selling the business.
  5. You can drop by Quinn Global Tax Law website for more information, or send a message to apq@quinngtl.com.

RELEVANT MATERIALS

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