Conforming to tax law and adhering to Shopify's ever-changing e-commerce rules while ensuring overall tax compliance can stress even the most experienced Shopify sellers, business owners, and entrepreneurs. This makes specialized accounting services and optimizing your Shopify store finances essential to operating your online business on the platform.
When you trust 1-800Accountant with your complex financial work, our CPAs and e-commerce accounting professionals handle these tasks on your behalf, including tax preparation and sales tax compliance. Knowing your business's finances are expertly handled, along with the powerful insights generated by your dedicated accountant, provides peace of mind and empowers you to focus on your Shopify store's next business milestone.
1. Provide required personal and business information.
2. Review and select your online business tax preparation service and complete your purchase.
3. Log in to your 1-800Accountant Portal and upload documents critical to preparing and filing your taxes.
Operational management is the key to improving profitability for your Shopify store. Your accountant will provide guidance so you understand your margins and turnover. For example, if an item is twice as profitable but takes three times as long to sell, it may not be worth prioritizing as the turnover rate is lower.
Bookkeeping and accounting services help your Shopify store understand the profitability of your inventory and turnover rate, among other important metrics. They empower you to make critical data-backed decisions, including which items to stock, cash flow management, and optimization strategies to fund inventory, improving margins by evaluating supplier costs and estimating additional warehousing or fulfillment services to meet demand throughout the fiscal year.
The accountants you evaluate for your Shopify store should possess the skillset, experience, and pricing you require to move your business forward. For example, if you'd be handing off tax preparation and filing duties to your accountant, make sure this is a service they provide. Some accountants specialize in Shopify and other e-commerce platforms, which can be invaluable as your operations scale.
Sales tax compliance requires regular monitoring. Each state has different filing requirements and filing dates. We closely monitor sales tax obligations and file sales tax on your Shopify store's behalf using state sales reports.
1-800Accountant's suite of professional accounting services is powered by a combination of expert CPAs and technology. It enables your Shopify business to minimize tasks while maximizing Shopify tax savings. This lets you focus your time and energy on growing your store's reach while we handle the rest. Our experts can assist you with the creation and implementation of a growth plan along with supporting services as your business scales.
1-800Accountant's full-service bookkeeping solution can support your multi-channel sales initiatives on Amazon, Etsy, and other major platforms. Your bookkeeper will be experienced in supporting multi-channel e-commerce businesses with accurate, detailed recordkeeping and easy-to-understand financial reporting.
*Based on a $12.2k average 2022 tax refund per client, which is 4x the cost of a full-service package. Source: first-party data.
**Includes average business tax preparation, form completion and submission, record keeping, and other misc admin time. Source.
***Historical first-party data.