Hey everybody! Thank you for checking out my channel.
Path to Billions is all about documenting my path to financial freedom and a better life and I'm hoping to take you along with me on that journey.
This channel will have regular content about my lessons learned, my failures, and the successes I have along the way. Also, there will be plenty of content to help you achieve your goals and aspirations as well.
If you are interested in a better life and want to join me on the path, then hit that subscribe button and turn on notifications.
Hey man, love the videos! I am trying to get myself organized with all this and was just wondering what specific business license you need to start working with wholesalers? Additionally, what exactly is a resale certificate and what is its purpose in this context?
I appreciate you making this video! I have some questions if you have the time to answer. First, I am still trying to get my business up and running. I am trying to sort out all the fine details so everything goes smoothly. I appreciate any help you can give. I am a disabled vet living off disability, and I am trying to put everything I can into making this work. If I can’t make this work, I fear I will be homeless by the end of the year :/ The cost of living is just too high for me, living on my disability. For this reason, if you can help me, I will be forever grateful for your time. My questions are: 1. What if the shipment from the wholesaler never arrives at the Amazon warehouse? Will Amazon notify me that my products on hand don’t match the inventory I uploaded? 2. How does Amazon know that the products I send from wholesalers belong to me for my business? Is it simply the name on the package which is addressed to them? 3. Does Amazon track my inventory for me if I ship from wholesaler to them directly? 4. Can I drop it off at the nearest warehouse instead of paying for shipping? I have one right down the street.
1 you will be notified that your shipment hasn’t been received 2 amazon knows shipment comes from you by your name and shipping address mentioned on seller central 3 I am not sure but probably no 4 Amazon provides you shipping address of a specific FBA warehouse. You need to ship to that warehouse you cannot ship to any FBA Warehouse.
How is your business doing at the end of 2023?? I'm thinking of starting mine in 2024! I heard that if Amazon catches you sending products directly from the supplier, they can suspend your account, does anyone have some information about this?? Thanks for your video, thi is great stuff!!
hi,I just a bigginer but want to know can I use tectical arbitrage from Canada ? Bcos I reside here .Your video is looks very helpful , I have already subscribed your channel.
If someone make an Llc and do FBA.Does he need an accountant all the year ar those files that are available all the time are good just to pay one(accountant) at the tax time?
When using this method, how does amazon verify that the correct items are recieved? What if the supplier sends the wrong items or damaged or missing items?
I know i'm late to comment, but i found this while doing research on inventorylabs and switching over from seller board... Okay so here's something that confuses people.. You said "would you be happy making 20k with 140k sales?" Most people who do not understand basics of accounting would say no, but you need to compare that 20k to you COGS, which is only 53k... That means you hit about 40% ROI, which is FANTASTIC. For some reason people equate your net profit to gross sales volume and expect it to be 50%+ of that number just baffles me. What really would be the make or break on it is if you were putting in 40hrs + per week into this... I would say that is to be expected during your first 30-60 days of doing amazon but it levels off after that when you've peaked on the learning curve. As long as your time is balanced to where you could equate it to earning about $30/hr (in this case, about 12-13hrs/week) then this is great.... Also, with all the deductions you can claim on your year end taxes, you most likely wont have to pay anything and will in-fact get money back at the end of the year. General rule of thumb when youre a small business is expect a baseline of 30% on taxes. There are so many deductions you can claim from miles, to home office, utilities, money off on your mortgage etc etc that you shouldn't have paid anything on your taxes. I went live June 1st with amazon and am on track to do similar numbers to what you did when filming this video and i would be very happy with these results. My goal is to be right around this.. Goal 1 is to pay for my mortgage with amazon profits, then next marker is all basic living expenses. My aim is to hit goal 1 by october 1st but am on track to hit that by September 1st. I'm going to subscribe and see where you're at now 3+ years later!
Good content! I'm new to Amazon selling and I haven't registed the business yet (numbers are not looking good right now). How can I go on filing my Amazon Sales as "Personal Income"?
I don’t understand the last bit, how does it generate a shipping label for you without even knowing where the goods are coming from? I have a supplier in China who was going to send themselves via UPS. Why can’t Amazon just let me do that by providing an address, must the label and shipping come from them?
I’ve been struggling trying to figure out how to get this stuff started until I stumbled into your RU-vid channel somehow. It’s so informative and helpful I hope to be able to get my FBA business successfully started up. Definitely subscribed!
you do not need to pay or account for sales tax when selling on amazon because it is collected and remitted on your behalf. Every quarter your state may require you to file a sale tax report, to which you just answer with "0". Unless you are selling it in person, you have no events in which you have to collect sales tax yourself to remit.
@PathtoBillions Very happy YT recommended your channel to me. Really appreciate your content! Question I have for you is you never mention the shipping cost to you in your cost estimation, is there a reason for this. Again thanks for all the great content.
Very good breakdown. I really appreciate this video! Helpful while Im on turbotax. I was wondering what I was missing and it turns out it was my cost of goods. Thanks!
I dont see the "wholesale" tab on the left side bar. Has this tab been updated in some way where I can still upload excel files? The post is two years ago so maybe they changed the settings in TA. Thanks!
another comment as i came through some issues and wanted to seek some advice. 1. after ordering the item and pay the shipment, the item became inactive and approval was required from the brand. how to avoid that? 2. found another item, its not hazmat, but after preparing the shipment, it got flagged as hazmat. also, how to know if the item is hazmat or can't be sent prior to ordering the item from the supplier
1. This is something I always found annoying. You usually avoid it by avoiding brands you know will be gated eventually. 2. Certain apps like Seller Amp will alert you if an item is hazmat.
Love the content ! Hey , rookie question Iam new to Amazon fba I’ve made less than $2k year to date in sales and about less then 50units sold YTD as well less than 200 in transactions . As well sales tax Amazon does it for me ? Am I required to report that in taxes even though I didn’t reach the 1099k requirement ?
