Accountant for eCommerce Companies – San Diego Accounting Specialist

Accountant for eCommerce Companies – San Diego Accounting Specialist

November 18, 2019 0 By Kody Olson


(Music) I break it down into these five major
categories first what we call etailers. Those are
retailers mainly selling physical goods online Most of them have a website, but not all
of them, and they’ll typically be selling on one or multiple sales channels, such as
Amazon eBay or Best Buy, for example. And then the other category that we look at
are people that are selling online informational products. An example of that would
be some type of digital content, maybe an online course or ebooks The third category that we look at are
bloggers mainly blogger who are creating content on their site. A lot of them,
but not all, typically generate income through affiliate links on their site. A couple
other categories we kind of group in there are software, as well, so it might be
traditional software, web based, or maybe software-as-a-service, somebody
that’s offering that. And then the last category that we add are
the providers that kind of service that industry, so it might be a web designer or
someone in social media, maybe somebody that manages affiliate
programs. We group all of those together in our definition of online
businesses. With a new client, we get started by going through our checklist and really
understanding how they’re structured and how their business works. And then a question
might go on to sales tax. What states are you currently collecting
sales tax in? So there’s quite a lengthy process we go through to
understand the different aspects And then we get into the general typical
accounting type questions. How do you handle your book? Who does your
bookkeeping? What does your tax situation look like?
Are there opportunities to reduce tax? And then making sure we understand what their business
projections are. Are they growing quickly? Does it
makes sense to possibly change their entity structure? Does it makes sense to incorperate in a
different state? We ask those questions and various other questions like that. (Music)