Starting an eCommerce Business

If you are just starting out your small ecommerce business, here is a checklist of tax saving tips and compliance tasks you may have forgotten. Did you:
📑Create a business plan
✍🏿Incorporate your business or LLC
📄Apply for an EIN
🏦Apply for a business checking account
💵Register to collect and pay sales and use tax in your state
📊Set up your accounting system and link your store and bank account
💳Open a business credit card to maintain cash flow and build business credit (among other credit building techniques)

You will be able to write off (reduce taxes paid) on many of the funds you used to start your business and you will get a tax credit for sales tax paid on packaging and inventory materials (in most states). You will also be able to write off a portion of your mortgage or rent payment if you’re home based and a portion of your car expenses used in support of your business. If you need assistance getting this checklist in order or taking advantage of these tips contact us.
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