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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