Bookkeeping for Amazon FBA Beginners: Bench Review Guide

Amazon FBA

If you’re new to selling products on Amazon through their FBA (Fulfillment by Amazon) program, you may find yourself overwhelmed by all the financial aspects of running your business. One crucial aspect that you’ll need to keep track of is your bookkeeping. Proper bookkeeping is essential for managing your finances, tracking sales and expenses, and ultimately, understanding the profitability of your Amazon FBA business. In this article, we will provide a beginner’s guide to bookkeeping for Amazon FBA sellers, specifically focusing on using Bench bookkeeping services. 1. Understand the Basics of Bookkeeping: Bookkeeping is the process of recording and organizing […]

How to Understand Amazon FBA Taxes to Prevent IRS Audit

Amazon FBA

Amazon FBA has become a popular way for individuals to earn income. However, with this increase in popularity comes increased scrutiny from the IRS. One way to protect yourself from an IRS audit is to understand the taxes associated with your Amazon FBA business. As an Amazon FBA seller, you are considered a small business owner by the IRS. This means that you are responsible for reporting your income and expenses on your tax return. Failure to do so can result in an audit by the IRS. One of the most common mistakes made by Amazon FBA sellers is failing […]