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eCommerce Tax & Accounting Q&A Pt. 1

Here is the transcript of the Q&A session that Alan Chen our CEO did with Jonathan of OXG Media.

Here are the timestamps for the video:

Introduction – 0:00:00

Alan Introduction – 0:00:57

Question #1 I’m 19 this year and I recently made over $200k this month with dropshipping. How do I NOT get audited/sued by the IRS if I run an eCom dropshipping store? Or when do they start knocking on my door? – 0:01:36

Question #2 How much money should you set aside per year to pay for taxes? – 0:03:38

Question #3 Why tax planning is important and why should I even care as an online entrepreneur? – 0:06:07

Question #4 What pitfalls to avoid on the accounting side when scaling your ecom business? – 0:11:10

Question #5 What compliance and accounting problems will you run into at 100k per year Vs 1m per year vs 8 figures, 10m per year? – 0:15:49

Question #6 What are sales tax thresholds and why is it important to think about sales tax thresholds early on for ecom owners? – 0:17:41

Question #7 How does Sales tax nexus work and How do I not get burned from it as an online business? – 0:19:56

Question #8 What would happen if you don’t file your sales tax or federal income tax? – 0:20:26

Question #9 I’m not American but I want to sell to the USA market and want to make sure I’m covered on the accounting side: other than doing the following: FEIN, track economic nexus, in each state, register for sales tax in states, is there anything else? – 0:23:01

Question #10 What’s the difference between an S corp, LLC and a C corp, which should I choose? – 0:26:02

Question #11 What’s your business structure to pay the lowest amount of taxes? – 0:32:09

Question #12 Wondering how to handle sales tax in other states. It looks like most states want us to collect sales tax but do we register our business in each state? – 0:34:10

Question #13 What will an accountant do? Will he help with the tax and registration process? – 0:35:24

Question #14 I run multiple dropshipping ecom stores. 1 General, a few niche and some branded stores. Can I have them in a single LLC? – 0:36:17

Question #15 Do I charge taxes to everyone based on the country they are purchasing in? and if so how do you manage/organize tax payment information to ensure your paying the taxes to the proper government bodies, or does shopify auto submit that for you? Confused at how to set up taxes. Help! – 0:38:49

Question #16 Give me a not well-known tax deduction that I can use right away to file my taxes this year? – 0:40:44

Question #17 If I buy, like Kitkat or biscuits, is that deductible? – 0:46:31

Question #18 When should I start worrying about accounting for my eCom business? – 0:47:15

Question #19 How much cash should I allocate towards deposits in the bank, towards product, wages, buying inventory, and any advice on managing cash flow? – 0:47:35

Question #20 Cash vs accrual accounting for eCom business. What to use? – 0:49:04

Question #21 How to choose an eCommerce accountant for my online store? – 0:50:18

Question #22 What questions should we ask the eCommerce accountant when we interview them? – 0:54:21

Question #23 How do you settle payroll? I usually pay my VAs through paypal and stuff, but if I want to hire full time staff for example, how do I settle payroll, what software do you recommend and why? What are the advantages? – 0:55:10

Question #24 Can I deduct my taxes when I buy inventory for my eCom business? – 0:56:41

Question #25 What’s the difference between software like A2X and QBO? – 0:58:25

Question #26 What key metrics should I look at in my eCom business? – 0:59:18

Question #27 If I’m not American, but run a USA LLC, do I have to pay US sales tax? – 1:00:29

Question #28 Top 5 mistakes that Shopify sellers make related to tax/accounting – 1:01:42

Question #29 What is your recommended accounting software and why? – 1:03:11

Question #30 Do any of you use software like taxjar.com, quaderno.io, taxdoo.com, or avalara.com, to automate sales tax calculations and do your filing? and what do these softwares do compared to QBO? – 1:04:25

Question #31 How do you record all your expenses in Shopify? Is it automatic? or do I have to manually pull from data into excel? – 1:05:12

Question #32 I paid like $60,000 in taxes last year and I feel it’s a lot. How do I LEGALLY pay less tax? – 1:06:14

Question #33 I have 3 VAs working for me now. How do I expense the cost of hiring my VAs? – 1:09:25

I’m 19 this year and I recently made over $200k this month with dropshipping. How do I NOT get audited/sued by the IRS if I run an eCom dropshipping store? Or when do they start knocking on my door?

I think there’s multiple ways to answer this question. First let’s start off with the basics. You are going to get taxed if you’re making 200K a month. Uncle Sam is going to want a piece of that pie. But that doesn’t mean you have to pay them more than you have to. If you’re making 200K that means in one year ur potentially looking at 2M a year in revenue. 

Anything over 500K i would definitely reach out to a licensed accounting professional to help you go through your financial data with you, it’s well worth the money. 

Esp if you can find someone that really understands your business and can help you maximize your deductions. You also want someone to organize your financial data for you to check for leakage.

How much money should you set aside per year to pay for taxes?

That really depends on what your revenue level is, The safest number would be around 20% of your revenue.

Why tax planning is important and Why should I even care as an online entrepreneur?

Tax Planning is often misconstrued as boring or just a term accountants come up with to confuse Business owners; but that is the furthest from the truth. Tax Planning saves lives. Ok maybe not that far. But it doesn’t put hard-earned dollars back into the pocket of entrepreneurs.

Trust me, Uncle Sam is not going to remind you that you forgot to take a certain deduction.

Another common myth I would say is the belief that tax returns are an April 15th only activity. There’s this thinking that yup I only have to worry about taxes around April 15th and im good right? 

No….that’s actually for the procrastinators….so as an individual…i think this is fine, Individuals don’t have as many tax deductions to take advantage of. But the US government historically has always been very generous with businesses, esp small businesses as that is really the backbone of the country. Entrepreneurs willing to take a risk and grow a company and also employ a bunch of ppl hopefully, open a factory one day and create a new product category.

I say that because Tax Planning is actually an all year round activity, I think that’s part of the education we really want your entrepreneur audience to realize that there are a LOT more things you can do during the actual tax year then afterward.

For example, during the year if you realize you would like to reduce your taxes when it’s time to do your return during 4/15, you should apply what is called the “defer and accelerate method”…Cash basis taxpayers…

Buy additional inventory ahead of time…

Prepaid for software licenses…annual plan (save money and get to take the deduction during the year you want to)

If you run a business where you can dictate when you want to receive the revenue, such as an online agency for example, then you can wait a few days before sending out that invoice, thus delaying the need to recognize that revenue on the books. So for example…

What pitfalls to avoid on the accounting side when scaling your ecom business?

The #1 pitfall is not knowing your numbers. not knowing your numbers is like driving a car without a fuel indicator meaning you have no idea when your car is gonna stop running. You don’t want that to happen to your store. You want a good grasp of your gross margin %, net income, what direction it is trending, what are your winners and losers products on a standalone basis. That’s why having clean bookkeeping done for your business really sets you apart from others and gives you so much insight into the health of your business. You get so focused on the top line sometimes you don’t realize how much money you may have wasted testing adsets, or using apps you didn’t really need, those things believe it or not all cost a certain amount of moola. You want to understand how much free cash flow you have so you know how to continue to use that scale in your business.

What compliance and accounting problems you will run into at 100k per year Vs 1m per year vs 8 figures, 10m per year?

As you scale higher and higher, you will be put more under a microscope with the IRS. THeir system is basically a bunch of red flags that trigger. One of them is definitely whenever a company crosses that 7 figure mark. They start paying a little more attention. Then the 8 figure marks a lot more attention. 

But that’s not necessarily a bad thing, you should celebrate that they are paying attention to you, that means you made it! 

But also means more and more so you want someone that understands how the system works and can help you not only survive it but thrive in that environment and benefit from all the great entrepreneur friendly business deduction and credit available in the marketplace.

The other area is sales tax……this really start exploding

Bookkeeping becomes more complicated because you have to use the accrual method vs the cash method. You can’t just simply follow the cash anymore…it’s a more GAAP way of looking at your books, expenses are recognized when used…Revenue are recognized when earned…

A lot more to lose…the more you make, the more possible tax deductions categories you are qualified for…so really there is EVEN more to lose for not doing your tax planning correctly.

What are sales tax thresholds and Why is it important to think about sales tax thresholds early on for ecom owners?

Sales Tax Threshold……..Def Sales tax is #1…..You have to understand how complex the US sales tax system is. So you may think, oh it’s not so bad, just have to keep up wth about 50 states of sales tax right (it’s actually a little bit less Alaska, Delaware, Montana, New Hampshire and Oregon), nopeee, you have to understand that it’s not just that

How does Sales tax nexus work and How do I not get burned from it as an online business?

-Economic and Physical Nexus

South Dakota vs Wayfairer.

-Learn the rules of the different states, figure out your nexus threshold strategy, and learn to manage it.

Another great way is to sell more international, I had a client tell me that they actually make more money selling to international than domestic, so we encourage them to increase their ratio

What would happen if you don’t file your sales tax or federal income tax?

Don’t delay on your sales tax….Huge penalties can apply……if u do fall behind…volunteer to the state government you know just tell them, hey guys, I’m behind, I’m sorry I didn’t know i surpassed this state’s threshold, what can I do to make it up to you? And oftentime than not they are pretty nice to ppl that volunteer this.

At first it’s just penalties and Interest..

If you continually ignore your taxes, you may have more than fees to deal with. The IRS could:

File a notice of a federal tax lien (a claim to your property)

Seize your property

Make you forfeit your refund

File charges for tax evasion

Revoke your passport

I’m not american but I want to sell to the USA market and want to make sure I’m covered on the accounting side: other than doing the following: FEIN, track economic nexus, in each state, register for sales tax in states, is there anything else?

You want to set up an LLC- SEparate your business and personal side expenses…You want to set one up for each brand you have too.

You want certain forms fill out depending on what your tax treaty is like for.Importance of Form 5472: Information return of a 25% Foreign owned US corporation or a Foreign corporation engaged in a US trade or business

$25,000 Penalty

If you fail to file within 90 days after the first warning letter, another $25,000 penalty will be added on

Must establish clean and accurate bookkeeping to file Form 5472

“Reasonable Cause”

Due April 15th in the year following the year your Foreign LLC was formed

Make sure to complete

W8-Ben or W8-BEN-E

Certificate of Foreign Status of Beneficial Owner for United Tax Withholding and reporting.

Compliance game, you wanna play the game correctly here or face huge withholding and penalties in this area.

What’s the difference between an S corp, LLC and a C corp, which should I choose?

S Corp, LLC and C Corp are different business entity structures that you can choose when you start a business. There are pros and cons to each one, but one of the main reasons why you would want to operate under a business entity instead of just as yourself is two words: limited liability. That means that if you’re selling a toy and it explodes and the customer sues you for damage, they can’t come after your personal assets. 

I would say 90% of business start with being an LLC simply because it offers the key benefit above plus it is the easiest one to set up in terms of time and paperwork. IT also gives your business legitimacy in the eyes of the bank, lenders and other 3rd parties you may be working with or sending invoices to or signing contracts with. 

C Corp is what you think of when you look at big companies such as………..A much more complicated structure…and the main reason you would do it is if you are raising money…..because there’s a lot more regulation around it…so a lot more trust………

S Corp is the hybrid of the two…..you still have the pass through of LLC but you also get the corporate structure of a C corp….a lot of restrictions such as how many classes of stock you can have…but the main secret benefit is in the Self employment tax saving…15.3%

What’s your business structure to pay the lowest amount of taxes?

I don’t think there’s a concrete answer here as it changes over time. And it really depends on the size of your business and revenue level. Generally speaking, C Corps are enjoying some of the lowest tax rate the US have ever seen at 21% but that is not guarantee to stay that way as there are rumors that with Biden in office this is going to be raised to 25 or 28%……..S Corp at a certain revenue level could help you save………I would talk to a professional to evaluate your exact situation and do a detailed diagnostic so you are using the right business structure..

Wondering how to handle sales tax in other states. It looks like most states want us to collect sales tax but do we register our business in each state?

This also depends on your revenue level and more importantly your nexus status. What is Nexus? We get this question a lot. NExus is your affiliation with a state……There used to be just physical nexus but now there’s also

What will an accountant do? Will he help with the tax and registration process?

That depends on the accountant…some just focus on one area….other will take care of it all for you…..or at least offer you the advisory service you need to guide you through the process….some smaller clients may not need the all-in service yet, but it’s important to establish a good relationship with an accountant early that you know you can depend on so that later on, as your business scale you already have someone in place you can rely on.

I run multiple dropshipping ecom stores. 1 General, a few niche and some branded stores. Can I have them in a single LLC?

Terrible Idea…..diversify your risk, setup multiple LLCs.

Do we have to collect sales tax right away, or do we wait until we reach a certain number of sales or transactions in a particular state? What about our home state? Based in Michigan.

Home state- Yes…Physical nexus……No not right away. Unless you trigger a physical nexus.

Do you only charge taxes on goods purchased in your country that your business resides in? Ex. I live in Canada so I would only charge taxes from people purchasing from within canada?

OR

DO I charge taxes to everyone based on the country they are purchasing in? And if so, how do you manage/organize tax payment information to ensure you’re paying the taxes to the proper government bodies, or does shopify auto submit that for you? confused at how to set up taxes, help!?!?

I can’t comment on Canadian Law…….for the US you would want to collect sales tax in all states that you have established nexus. For internationals, there is no sales tax to collect for those countries, so it’s actually an advantage if the main objective is to avoid remitting or collecting sales tax, is to sell more internationally. 

However, you should look at your profit margin when doing so on what is more profitable…for example if shipping to those countries are high or return rates are high then it might not be worthwhile to do it just to avoid sales tax. 2nd part of the question, Yes there are settings in shopify that you can use to set up your sales tax properly. 

I can provide a link for anyone interested. Shopify has a page that gives detailed instructions there.

Give me a not well-known tax deduction that I can use right away to file my taxes this year?

Startup Cost Deduction-

Research about your business

Travel to supplier to check out things

Incorporation cost, lawyers and accountants.

SOLO 401K……Very generous to give

Home Deduction Tax Deduction

When should I start worrying about accounting for my eCom business?

You want to start looking into it when you hit the 6 Figure mark for your business, that’s when you really need to just either study up more on yourself or consult with a licensed professional to evaluate your situation. 

I would say at about 300K is when having a professional perform detailed tax planning really starts paying off and you start to see the benefit of having someone to understand your business to perform the tax return on your behalf. TAX FREE ECOM Course….doing this at the start is very important as owners who do not file could be faced with serious penalties and fees and it could go as serious as being de-licensed from being able to do business in the state they are in.

How much cash should I allocate towards deposits in the bank, towards product, wages, buying inventory, and any advice on managing cash flow?

This depends on your business…..what we do for our clients is we do a burn rate evaluation and cash flow analysis to determine based on their last 12-18 month trending how many need to leave in their business to cover inventory, estimated taxes, and other categories, so that they can use the excess cash tog grow their business, invest it for the future or anything else they want to do with it and still feel safe and secure knowing their business operation will keep running with no problem. We also performed forecasted future PL .

People think accounting or tax is a 1-time thing you do every month/year. How can an accountant help with financial planning throughout the year?

“Tax Planning is often misconstrued as boring or just a term accountants come up with to confuse Business owners; but that is the furthest from the truth. Tax Planning saves lives. Ok maybe not that far. But it doesn’t put hard-earned dollars back into the pocket of entrepreneurs.

Trust me, Uncle Sam is not going to remind you that you forgot to take a certain deduction.

Another common myth I would say is the belief that tax returns are an April 15th only activity. There’s this thinking that yup I only have to worry about taxes around April 15th and im good right? No….that’s actually for the procrastinators….so as an individual…i think this is fine, Individuals don’t have as many tax deductions to take advantage of. 

But the US government historically has always been very generous with businesses, esp small businesses as that is really the backbone of the country. Entrepreneurs willing to take a risk and grow a company and also employ a bunch of ppl hopefully, open a factory one day and create a new product category.

I say that because Tax Planning is actually an all year round activity, I think that’s part of the education we really want your entrepreneur audience to realize that there are a LOT more things you can do during the actual tax year than afterward.

For example, during the year if you realize you would like to reduce your taxes when it’s time to do your return during 4/15, you should apply what is called the “defer and accelerate method”…Cash basis taxpayers…

Buy additional inventory ahead of time…

Prepaid for software licenses…annual plan (save money and get to take the deduction during the year you want to)

If you run a business where you can dictate when you want to receive the revenue, such as an online agency for example, then you can wait a few days before sending out that invoice, thus delaying the need to recognize that revenue on the books. So for example…

Cash vs accrual accounting for eCom business. What to use?

For businesses starting out, I would definitely start off with the cash basis method. It is easiest to understand. Because as the name implies, it follows cash. Cash goes out, it is an expense. Cash comes in, it is income and revenue.

Accrual method is for bigger businesses and once you reach 7 figures you start to consider if you want to make that switch but before then there’s no need. 

Cash basis gives you a lot more flexibility for tax planning. Let me give you a few examples….buying inventory….prepaid for Software………or delaying income…..

How to choose an eCommerce accountant for my online store?

What questions should we ask the eCommerce accountant when we interview them?

Trust me, it is a very costly mistake to not hire the right person and can actually cost your business tens of thousands of dollars, maybe even if you do not…

So let’s go right into:

#1- Make sure your ecom accountant is a CPA

#2- Hire an ecom accountant that understands your business from top to bottom

Hire someone that speaks your lingo…and don’t need you to have to explain to him anything

#3- Hire an ecom accountant that already has clients in your specific niche

#4- Hire a US ecom accountant if at all possible (even if it cost you a bit more and here’s why)

#5- Hire an ecom accountant that is supporting you all year round and can be your outsourced CFO.

Following these tips would make sure you are able to extract the maximum tax savings and business strategies that are needed for your business.

The savings can be tens of thousands and even hundreds of thousands with the right situation in place, so it is not something you should push away. Embrace it, learn it and love it.

And get yourself the right ecom accountant to take care of it all for you.

How do you settle payroll? I usually pay my VAs through paypal and stuff, but if I want to hire full time staff for example, how do I settle payroll, what software do you recommend and why? What are the advantages?

Payroll is one of those areas that has a lot of compliance headaches around it. because well it’s salarry and that affects people’s livelihood so they expect companies to do it properly. When it is time to hire full time staff i would definitely not recommend you guys figure it out yourself esp when you for business owners in the US because you have to deal with payroll tax…medicare, social security and how to withhold…I would definitely reach out to a professional or at least explore professional payroll software to help you take care of it. 

QBO has a payroll solution so if you guys are used to QBO you can give their software a try and see if you like it. My most recommended software solution is actually gusto. Gusto is made for entrepreneurs and small businesses. 

They have a very intuitive interface that makes it very easy for business owners to understand how it should work. And if nothing else you can also get an accountant to run gusto on your behalf and this way you wouldn’t have to worry about it. They have a very reasonable pricing and it starts out quite low and it just scales as you grow your headcount. So that’s highly recommended from us, if you guys are interested I will make sure to ask Jonathan to leave a link below for you guys to take a look yourself.

Gusto – https://gusto.com

If I’m not american, but run a USA LLC, do I have to pay US sales tax?

Yes, depending on nexus status.

Top 5 mistakes that Shopify sellers make related to tax/accounting

  1. Not doing Quarterly Estimated tax
  2. Not looking at your transaction fees
  3. Not good bookkeeping to track your magins.
  4. Not understanding cash flow
  5. Not maximizing your tax deductions

What is your recommended accounting software and why?

QBO-Scalability: Most SaaS companies are growth-minded, meaning you need accounting software that can keep up with your business as it expands.

Automation: SaaS is a fast-paced industry. Nobody wants to spend all their time doing accounting, so you need a solution that is as high-tech as the service you provide. Automation allows you to focus less on your books and more on your business.

Multi-business Support: SaaS encompasses a wide range of business types. Your software needs to provide a solution that can account for that.

Do any of you use software like taxjar.com, quaderno.io, taxdoo.com, or avalara.com, to automate sales tax calculations and do your filing? And what do these softwares do compared to QBO?

Yes, Taxjar and Avalarar are two of the most popular options to use.

How do you record all your expenses in Shopify? Is it automatic? or do I have to manually pull from data into excel?

Nothing is automatic in shopify….Shopify is not the best source of truth. Shopify is not meant to be used as any kind of financial standing for your business and it doesn’t really paint the whole picture. If you think about it, the majority of an Ecom business spending is in two places: Inventory and Facebook/other paid ads. 

Shopify does not have data on either of these, and even for Revenue i would compare it very carefully with what’s actually received in your bank account at the end of the month so a reconciliation is necessary esp if you collect money from paypal or stripe.

I paid like $60,000 in taxes last year and I feel it’s a lot. How do I LEGALLY pay less tax?

Here are a couple ways you can look into paying less tax.

  1. Use retirement planning as a tax shelter.
  1. Capture all of your business meals/mileage
  1. Cash basis For example, during the year if you realize you would like to reduce your taxes when it’s time to do your return during 4/15, you should apply what is called the “defer and accelerate method”…Cash basis taxpayers…

Buy additional inventory ahead of time…

Prepaid for software licenses…annual plan (save money and get to take the deduction during the year you want to)

If you run a business where you can dictate when you want to receive the revenue, such as an online agency for example, then you can wait a few days before sending out that invoice, thus delaying the need to recognize that revenue on the books. So for example…

I have 3 VAs working for me now. How do I expense the cost of hiring my VAs?

Normal business expense, Consulting Fees…not actual Employees. You would simply expense their salary that you paid them.

I’m looking to exit and sell my eCommerce business. How do I value the business? How can I maximise the value of my business? And what is a fair valuation multiple?

Clean investor level Financials is an important step. Due Diligence process is all about can you prove the value of your business? Whether that is a powerful email list, exclusive supplier relationship or custom product or patent that only you own…Viral video…..AD spend…actual revenue figures…actual expenses……How profitable is your business…

Aside from the obvious attention given to running your business in a profitable way, having investor-grade accounting is crucial to ultimately making a good sale.

A good profit and loss statement (P&L), like the one shown above, is EXTREMELY readable even to the least experienced buyer. Your P&L should articulate your business’s performance by sales channel (Amazon, Shopify, eBay, etc.), as well as be parsed out by month so it’s easy to tell exactly which numbers belong to which period.

This is where accrual accounting comes in: accrual accounting allows your landed sales numbers to hit your report in the correct months, which creates both a simplified view of your COGS and more consistent gross profit data to track over time. If you’re still using cash-basis accounting, your books will likely be too complicated to go through necessary due diligence.

A solid P&L also has the advertising information in one easy-to-read place. Ad costs tell buyers what kind of investment they’ll need to put in in order to make sales, so making this data easily available makes your buyer’s job easier and negotiations less of a communication struggle. Much like buying a car at a used car lot or trying to sell a house, the “curb appeal” of your clean P&L leaves a good impression on your buyer.

Return on Working Capital

Finally, possibly the most overlooked metric you should focus on as a seller is Return on Working Capital.

ROWC is the understanding of how inventory velocity affects profitability, and many sellers completely ignore this data when considering their margins. This metric considers both how much cash is required to make a profit AND how often that cash infusion happens over the course of the year. In other words, how much do you make for every dollar you put into your products, and how often do you have the chance to put another dollar in?

What type of deal structures can I explore when I sell my eCom business?

Types of Deal Structures

There are five main types of deal structures you might encounter in trying to sell your business.

All cash – The buyer pays the full amount up front, usually at time of sale.

Cash plus seller note – The buyer pays a percentage in cash, plus a seller note over a period of years.

Cash plus earnout – The buyer pays a percentage in cash, plus profitability of your business as a partnership. In this case, the seller receives payment from the buyer as the business continues to grow.

All earnout – The buyer pays a larger percentage of partnership for several years with no cash payout. This type of structure is uncommon.

Rollup equity – Instead of buying the business outright, the buyer enfolds the entity into their existing portfolio and the seller becomes a part owner of that entity. This type of deal is becoming less common because when aggregators own too many brands, things can get sloppy and complicated. There is no cash payout involved in this deal.

Just as an all cash deal is the safest bet for sellers, rollup equity is riskiest. Since there is absolutely no cash payout, you’re at the mercy of the aggregator’s performance for the profitability of your brand. In these cases, it might be worth the peace of mind to just get paid out in cash even though the equity deal may be valued higher.

Equity vs. Asset Sales

In the past, buyers looked at deals in terms of owning the entity itself – both the brand itself, the LLC/C-corp, and the stock. These are equity deals, and in recent years, they’ve become less common in the e-commerce market.

What we see more often these days are asset deals, sales in which the buyer purchases the products, trademark, and the inventory itself. This type of structure allows the buyer to take on the business without taking on liability for your past mistakes, be they issues with sales tax or bad relationships with suppliers.

Next week we’re sharing tips and tricks we’ve learned from years of valuing e-commerce businesses. Check back for more in this series!

I’m looking to exit and sell my eCommerce business. Are there any specific things on the accounting side that I should be doing?

CERTIFIED GRADE FINANCIALS

How do you manage cash flow when you need to buy inventory in your eCom business?

Understand your metrics, turnover….

I say we do pretty well…we do 8 figures annually. When should I hire a CFO or fractional CFO?


Immediately.

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