How To Setup Your Shopify Taxes | E commerce 2020

Hello Shopify Store Owners

In this video, I will be interviewing an e-commerce accountant that specialises in Shopify taxes

⬇️ Questions I ask In the Interview

Best business setup for taxation?

How in Shopify to correctly put the tax and shipping tax?

What tax to apply if dropshipping from China?

What do you have to look out for when selling worldwide?

How do I calculate the percentage I should save from each sale?

How does VAT & GST work? When do I charge my customer?

How do I handle taxes if I’m dropshipping in the US but live in another country?

How to get the tax and Shopify invoices automatically in your own accounting software?

What are some good ways to keep track of expenses?

What parts of e-commerce are tax-deductible expenses?

write-offs, for example, marketing, transaction fees?

When do? I should I pay? Annually or quarterly? Does it make a difference?

What are the best methods to avoid tax?

What makes a good e-commerce/dropshipping accountant?

How much do accountants cost?

Steves accountancy firm: https://www.elverconsultancy.co.uk/accounting-for-e-commerce-businesses/

DISCLAIMERS

Steve is a UK based accountant so the discussion will be from the perspective of a UK based business

The advice given will be in general terms and specific professional advice should be obtained before acting on any information contained herein. No duty of care is assumed to any viewer.