What are my tax obligations for my e-commerce business?
An example of an AI chatbot conversation about e-commerce tax obligations.
What are my tax obligations for my e-commerce business?
As an e-commerce business owner, you need to consider sales tax, income tax, and possibly VAT depending on your location.
How do I determine if I need to collect sales tax?
You typically need to collect sales tax if you have a physical presence in a state or if you meet certain sales thresholds.
What records should I keep for tax purposes?
You should keep records of all sales, expenses, invoices, and any correspondence with tax authorities.
Are there any specific tax deductions I can take?
Yes, you can deduct business expenses like inventory costs, shipping fees, and advertising expenses.
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