Sales tax nexus, inventory valuation, and multi-channel reconciliation for Amazon, Shopify, Walmart, Etsy, and TikTok Shop sellers.
E-commerce brings a specific set of tax and bookkeeping problems that a generalist accountant often misses: inventory that has to be valued correctly, sales tax obligations that can trigger in states you have never set foot in, and payment processor fees that need to be separated cleanly from actual revenue. Hasco Tax Advisors works with online sellers on Amazon, Shopify, Walmart Marketplace, Etsy, and TikTok Shop, handling the bookkeeping and tax details that are unique to selling across multiple channels at once.
Since the 2018 Supreme Court decision in South Dakota v. Wayfair, states can require you to collect sales tax once you cross a revenue or transaction threshold in that state, even with no physical presence there. Most sellers on Amazon FBA discover this the hard way, since Amazon's fulfillment network can create "physical nexus" simply by storing your inventory in a state's warehouse.
Amazon, Walmart Marketplace, Etsy, and TikTok Shop are all required to collect and remit sales tax on your behalf in most states under marketplace facilitator laws. Shopify does not do this automatically for your own direct store, since you are the seller of record there, not a marketplace. Selling across multiple channels means tracking which platforms handle this for you and which do not.
Your inventory on hand at year-end directly affects your taxable profit. Overstating or understating inventory value, a common error when it is tracked loosely in a spreadsheet, distorts your cost of goods sold and either overstates or understates your tax liability.
Amazon, Shopify, Walmart, Etsy, and TikTok Shop each pay out on different schedules with different fee structures deducted before you ever see the deposit. Treating a bank deposit as your revenue, instead of reconciling it against gross sales, fees, and refunds on each platform, is one of the most common bookkeeping errors for multi-channel sellers.
Amazon, Shopify, Walmart, Etsy, and TikTok Shop payouts reconciled against actual bank deposits, separating gross sales, fees, refunds, and chargebacks correctly for each channel.
Cost of goods sold tracked against actual inventory levels, not estimated at year-end, so your margins reflect what actually happened, product by product.
Your actual sales data reviewed to identify where you have crossed a state's economic nexus threshold, and which platforms already handle collection for you.
One consolidated set of books across every channel you sell on, instead of five disconnected platform reports.