Selling on Amazon may be your side business. But it’s a business still, which means you have to pay taxes like other brick-and-mortar businesses. Sellers in the U.S are required to pay their business taxes by March 15 every year. In contrast, personal taxes are due every April 15. The process of filing taxes for Amazon sellers, however, is not as straightforward as that of other retailers. As a result, it’s crucial to get all the necessary information to avoid penalties from the IRS. Here are all the things you need to know about reporting Amazon FBA taxes correctly and…
