Many people think the Internet is a tax-free, duty-free, regulation-free zone where sellers and buyers can engage in “capitalistic acts between consenting adults” without interference from the Government. It may have been that way once upon a time, but not anymore. . .
Selling online is becoming more and more a regulated and taxed activity. Recent legal developments affecting income taxes, sales taxes and “nexus” are changing the ways e-merchants, and especially Amazon sellers, operate their businesses.
In this fast-paced, humorous presentation, Cliff will cover the following cutting-edge legal and tax topics for the intermediate to advanced Amazon seller:
• the legal and tax implications of “retail arbitrage”;
• the “first sale” doctrine and the Supreme Court”s Kirtsaeng case;
• the legal risks of letting Amazon “commingle” your inventory with other sellers in their warehouses;
• changes in self-employment tax affecting the Schedule C filer;
• legal issues for "white label," "private label", "retail/online arbitrage" and other sellers on Amazon;
• knowing when you have to pay estimated taxes, and how to make the necessary calculations;
• can you deduct this trip to The Sellers' Conference?;
• “nexus” for state income, sales and use taxes when selling on Amazon’s FBA program;
• the so-called “Amazon tax”: a state by state summary;
• the push to tax interstate sales and where it stands after the Marketplace Fairness Act of 2013; and
• your tax obligations when “drop shipping” for a vendor or taking private consignments of inventory.