Tax Tips for New Ecommerce Entrepreneurs
Starting an eCommerce business? Consider these tax tips for new eCommerce entrepreneurs from bestselling author and CPA Stephen L. Nelson New eCommerce entrepreneurs can find themselves confused and confounded by the tax and accounting requirements of their venture. And that’s a shame: If someone’s spotted a great new category and successfully built a web presence, heck, that someone shouldn’t find themselves bogged down with the accounting minutia. The entrepreneur should focus on increasing traffic, expanding margins, and growing cash profits. With that in mind, I offer up the following tax tips for new eCommerce entrepreneurs: Tip #1: Don’t Incorporate A true corporation—whether a C corporation or an S corporation—saddles your business with more complicated tax accounting and a bunch of state filing requirements. You don’t want to deal with…