Have you ever wondered how to find your ecommerce CPA?
Do not fret, because i will help you out.
I understand that it can be a daunting task when trying to figure out what the right price for your product is and if you should hire someone to do this for you or do it yourself.
I’ve compiled a comprehensive list of questions and points for you to consider while selecting an ecommerce CPA so that you get the most out of your investment.
Why Deal with a Specialist?
It always feels good to depend on professionals.
Specialist can help you better understand your ecommerce business and assist you on preparing for success, making ecommerce compliance easier, more manageable and less costly.
Specialist accountants such as ecommerce CPA not only do accounting services but also ecommerce tax planning and consulting.
The ecommerce CPA will help you do accounting by preparing tax returns and reports, including ecommerce financial statements, business valuation, forecasting analysis and cash flow projections.
They also know the best ecommerce resources in your area.
These people can help you make the most out of ecommerce opportunities like ecommerce seminars and workshops.
Free 30-Min Strategy Session
By the end of this Strategy Session, you will have a clear understanding of the next steps you can take for your business to take advantage of the tax deductions you are missing out on.
Specialist also understand important ecommerce terms like ecommerce gross profit ratios, business depreciation, and capitalizing expenses.
So if you’re looking for a ecommerce CPA search no more because Free Cash Flow has the best eCommerce accountants in California!
How to find the right CPA for your business
Ecommerce accounting services are not easy to manage and require a specialist to do this for you.
You can find the right fit by asking these questions:
- How much ecommerce experience does they have?
- How many ecommerce clients has dealt with?
- What are ecommerce client’s satisfaction level?
All these will help you find the ecommerce CPA that is perfect for your business.
You should be able to trust your ecommerce CPA with everything from payroll to ecommerce compliance.
Ecommerce consultants are also helpful because they can guide you through the ecommerce process, including start-up to success.
Their core competencies are ecommerce strategies, growth tactics, customers relationship management, ecommerce technology, and marketing.
They will give you ecommerce consulting that can be customized to your business requirements such as infrastructure, e-trading platform, strategic planning and ecommerce staff training.
Where to Start finding the best fit
Many ecommerce sellers who are looking for more hands-on help welcome the idea of handing their account over.
But knowing when is right and finding someone with the expertise can be tricky though!
So there’s a two situations to consider.
#1: You’re Making 0 – $20k per month in Sales
The number one problem with your ecommerce store in the beginning is that you don’t have any money and are not sure where to start.
You might be the one doing all of the bookkeeping, or maybe it’s a shared responsibility between spouses. Either way – there must be something better for you than this boring work!
You’re eager to know how you can structure your business in the most tax-effective way. You want all of the basics about local, state and federal taxes that will help grow it into something big for yourself or maybe even start up some other companies with their own infrastructure!
You are focused on making sure this ecommerce store has everything it needs when growing so there aren’t any surprises later down road – especially ones where I owe money because then nobody wins.
Amazon FBA is a great way to start making some extra money and learning how ecommerce business works. It will probably seem intimidating, but if you’ve got an idea for how it should work or what your next steps should be don’t hesitate!
Ain’t nobody got time like now–time’s up on this old clock (and we’re not talking about zombies).
But what is the best solution?
You’re right, you do need a CPA for your ecommerce but that doesn’t mean they have to handle your bookkeeping.
A proper CPA should be more involved in helping with taxes and filing tax returns which is the bare minimum for any business owner who wants their company’s financials straightforwardly represented during annual audits or other personal engagements as well-organized so there are no surprises come time of settlement season!
Consider getting an outside professional on board from day one – it’ll become normal operating procedure once things get rolling at some point soon enough.
One of the most important decisions you’ll make early on in your Amazon selling adventure is whether or not to have a CPA help with all those tricky tax questions.
But if I were starting from scratch today and had no idea what taxes applied for this type of business, here’s how my understanding would grow:
I’d start by making a phone call with an ecommerce CPA to get the low down on ecommerce tax basics so I could understand how Amazon ecommerce works.
Then, once I had a little bit of experience selling on Amazon ecommerce, I’d hire one to help me with eCommerce sales taxes.
Finally, after building my ecommerce business for some time, I would expand their role into
I know taxes can be confusing, so at this point I refer you back to the CPA that’s going help with your basics. Here are some tips on finding just what kind of person would work for you:
Check to see if you like them and how they operate.
I was really surprised when I discovered that accountants can have a good personality.
Accountant’s personalities often reflect the type of work they do and how much time is devoted to it, but some find themselves in more customer facing roles which means being approachable from clients or potential ones as well!
Ask about their credentials and how they work with clients like you
You can do a quick license lookup for the CPA you’re considering.
By doing an online search, it will tell you if they hold themselves out as one, but also whether there are any negative claims against them (or if their own license was temporarily revoked). Most people pass this test without issue!
#2: You’re Making $20k – $50k per Month in Sales
Congratulations on reaching this stage with your ecommerce business! Here is where you’ll find all of your current challenges.
You might be making enough money now to make this your full-time endeavor. That’s awesome, but it also adds some stress on top of everything else because you are fully invested in the success of your business and have employees who depend upon their livelihoods from what they do for work (or at least help provide).
It is hard not having any free time anymore – especially if there has been growth over recent months/years which requires an increased level or dedication than ever before!
You’ve heard the horror stories about how Amazon shuts down businesses willy nilly, so you’re expanding into selling on Shopify to develop your brand and maybe eBay too just in case.
When you’re running a business, it’s important to see how your performance is doing overall. As the data in various shopping carts are difficult for people at times and can be hard on their own sanity if they don’t know what needs done with them – procrastinating like I did!
I’m starting realize now that things may not go well unless we get some real help from an accountant or someone who knows more about numbers.
Cash flow can be a concern, because you need sales and purchases of inventory to support your business.
But don’t worry, I’ve got this! Talk to the bank about getting an loan so that worrying about cash doesn’t come up as much in your day-to-day operations; however for that we’ll need better financial statements (and maybe even some tax documents).
But whats the solution?
The ecommerce CPA in this space will set up your books and give you some training.
They’ll then let you run the books on a daily basis, but they clean things up for at month end so it’s more affordable than traditional accountant services! However be careful- there are lots of false automation claims out their that might seem like something worth checking into before committing time or money to them.
A monthly accountant is a great option for businesses that have a low volume of transactions and complex financial statements.
And As you grow and diversify, your business needs to be managed on a more daily basis.
These ecommerce accountants typically don’t have the time or resources for monthly cleanups when they start getting too big; in order of severity:
1) drastically increasing prices.
2) handing over management duties (increases cost).
3) firing outright due to strain put onto company operations.
Tip: If you’re doing it independently for each transaction, they’re probably doing it wrong and setting you up for difficulties later on.
The right CPA specialist can help you save time, money and headaches in your business.
Whatever stage of growth or complexity level that your company is at, there are ecommerce CPAs out there who specialize in the type of work that you need done to make sure everything runs smoothly.
If you’re ready to find a CPA for your small business but don’t know where to start, consider these important things when evaluating different firms before making any final decisions about which one to choose.
You may be surprised by how much easier it will be than if you were just starting from scratch!
If you’re serious about reducing your taxes and increase your net income, Download our FREE E-book “9 Most Crucial eCOM Tax deductions The IRS Doesn’t Want You To Know“.