Amazon reports gross sales on a 1099-K, and FBA fees plus precise inventory accounting are what reveal real profit.
Amazon FBA sellers report on Schedule C, and the 1099-K reflects gross receipts before Amazon's many fees, so reconciling to net profit takes careful records.
Cost of goods sold and inventory tracking are critical, because units sitting in Amazon warehouses are still your inventory until they sell.
Income you’ll report on: 1099-K.
Most people in this line of work leave money on the table. Here's what we make sure to capture:
If you earn as an independent contractor, yes — self-employment tax is 15.3% (Social Security and Medicare) on your net profit, on top of regular income tax. You deduct half of it, and every business deduction lowers what you owe. We handle the calculation on Schedule SE.
Common write-offs include cost of goods sold for products that sold, fba fulfillment and referral fees, inbound shipping and prep service costs, storage and long-term storage fees, plus a share of your phone and any home-office use. We go through your year line by line so nothing legitimate gets missed.
If you expect to owe $1,000 or more for the year, the IRS generally wants quarterly estimated payments to avoid an underpayment penalty. We calculate them so next April isn't a surprise.
Yes. Your income is taxable whether or not a client or platform sent a 1099. We report it correctly and offset it with every deduction you qualify for.
Tell us what you've got and we'll come back within one business day with the plan and the price · from a preparer who knows your line of work.
Tell us what you’ve got