AS 90: How to save more on taxes as an Amazon FBA Seller with Josh, Founder of CPAonFire

Today’s I’ve got on the show, who is a CPA and the founder of CPA On Fire, a tax and accounting firm specializing in working with online entrepreneurs. Over the last few years he has been working very closely with Amazon FBA and other eCommerce sellers to help them with the challenging aspects of accounting and taxes specific to eCommerce sellers.

What you'll learn:

Can you take us to the beginning before you started your accounting firm, where did your journey begin?What’s the story of how you became the official cpa for entrepreneur on fire?

* How many employees he has

* How  Amazon sellers should setup their business.

* How to big sellers legally save a lot of money on taxes

* What’s tax deductible in our e-commerce businesses

* How Donald Trump Saves on Taxes

* Distributions to owners vs. payroll

* Sales tax and set the record straight. Should we paying sales tax to all the states where FBA is at, or just our state tax

* What software tools do you recommend a seller should use. And WHY

And lots more.

Show notes coming soon.

DAVID ALADDIN: Welcome to the show, Josh.

JOSH BAUERLE: Hey. Thanks for having me.

DAVID ALADDIN: So, can you take us at the beginning before you started your accounting firm? Where did your journey begin?

JOSH BAUERLE: Yeah. So I kind of worked in several different accounting fields, I guess I did work at a Fortune 500 company out of college, doing some cost accounting. I moved into public accounting doing taxes for bigger businesses. I did some financial advising and I finally realized that all these jobs weren’t the problem. I kept thinking if I got this new job that would be the job I’d like. But I finally realized that I just didn’t like being an employee so by 2012 I went out and founded my own firm and I started specializing in working with online entrepreneurs and that’s  kind of slowly evolved into really working closely with eCommerce sellers and especially Amazon FBA sellers so we got here.

DAVID ALADDIN: How long were you doing the job thing for?

JOSH BAUERLE: I did, let’s see. I did two years out of school at the Fortune 500, I did another two years at a public accounting and then a year at financial advising. About five years.

DAVID ALADDIN: Five years.

JOSH BAUERLE: Yep.

DAVID ALADDIN: So 2007-ish?

JOSH BAUERLE: Yeah. Roughly. Yep.

DAVID ALADDIN: And so when you were like wanted to quit your job was that at that time one of the hardest things to do?

JOSH BAUERLE: Yeah. It kind of came up random. It actually when I was doing the financial advising, the guy I was working for, he wanted to acquire other financial advising firms. And I said, hey, I have my CPA license why don’t we just acquire another CPA firm and we can turn those into financial advising clients. He was all on board for that and we found one that we really liked and he then kind of got cold feet and backed out at the last second and I was like, you know what? I'm still going to go through with it, I'm going to take it over. So I was working with this guy and it was kind of, he was an older guy, he’s looking in to get out of his practice. He basically just let me run the whole practice and I get x’ed him out of the total whole revenue that came in. Then he said, and beside if you want to build your own stuff on the side you can keep all of it. So I started doing that for him while just slowly building my side business and it get to the point where he kind of wasn’t being reasonable for what he want to charge me to buy his, but I felt I've built mine enough that I could finally go out of my own, so.

DAVID ALADDIN:        Yes.