M. Sal had his own Ecommerce store. He realized that no Canadian accountant understands US tax and virtually no one understands a Shopify business. That’s what led him to start SAL Accounting where their team now solve these problems for brands.

In This Conversation We Discuss:

• 00:00 Introduction
• 01:13 Discussing the accounting brand
• 01:34 How the guest entered the ecommerce tax niche
• 03:09 The hidden Shopify fee for international sellers
• 04:13 Do you need a US LLC: Plus plan vs sales split
• 06:36 Revenue threshold for opening a US LLC
• 08:00 Step-by-step process to set up a US LLC
• 10:22 The costly mistake of naming yourself as owner
• 12:30 Do US brands need a Canadian setup too
• 13:56 The $25,000 penalty for missing Form 5472
• 15:38 Why proper bookkeeping matters for ecommerce brands
• 17:57 How monthly books help you save on taxes
• 19:33 The risk of hiring a cheap bookkeeper
• 22:00 Where to learn more and get help
• 23:43 Returning Questions to a Fellow Host
  

Resources:

• Subscribe to Honest Ecommerce on Youtube
• CPA Tax Accounting and Bookkeeping Firm salaccounting.ca/
• Follow M. Salman salaccounting.ca/author/salmansalat00/

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