Welcome to our step-by-step guide to preparing your US company's tax return. These instructions will guide you to accurately report your company's income for the year and complete your tax return smoothly. Below you will find instructions to help you complete this process successfully.
Please read the instructions carefully and follow them step by step. Each step must be followed exactly so you can complete your tax return accurately and completely. Remember, getting accurate reports is the first step in reporting to the IRS with the correct information.
Required Documents and Reports
You can fill out the information and documents below in the relevant sections of our Tax Declaration Form completely and accurately, then upload the documents and send them to us.
Information and Documents
- Company Establishment Documents "Articles of Organization / Establishment Certificate" (Download Tax Declaration Form from Step 3 page)
- EIN Number (Download from Tax Declaration Form Step 3 page)
- Personal Information (Fill in the Notification Form Step 1 page)
- Company Information (fill in the Notification Form Step 2 page)
Reports
- Amazon Panel Reports (Date Range Reports)
- 1099-K (shows gross income) if applicable
You can download your reports according to the instructions below.
Preliminary Information
Declarations are made annually and must be made between January and April in 2024, in accordance with the tax calendar. These statements must include all financial information between January 01 and December 31 of the previous year, 2023.
1-Reporting According to Company Establishment Date
If you have established your company in previous years and this is not your first tax return, your reports should cover the period between January 1, the beginning of the year, and December 31 , the end of the year.
2-Companies Established During the Year to be Declared
It does not matter if you were selling with your company in Turkey in 2023 or if you have just started. If you established a US company during the year and linked your account to the platform you sell on, the income and expenses you declare must be from the date you started using a US company. You must receive your Amazon reports by December 31, 2023, starting with this date.
For example: You established an LLC company in the USA on April 15, 2023 and connected it to Amazon. When receiving Amazon reports, your start date must be between April 15, when you founded the company, and December 31.
3-Downloading Amazon Seller Central Reports
You can reach the page where you can download the reports by following the steps below or by clicking directly on the relevant links.
1. Go to Amazon Seller Central and sign in to your account.
2. Click the Menu tab in the left corner of the panel, then follow the Payments and Reports Repository menus. On the page that opens, follow the steps below.
- Click "All (Unified Reports)" under the Account Type heading . (This is selected by default. It includes all reports.)
- As the next step, under the Report Type heading Select "Summary".
- Under the Reporting Date Range heading, click " Custom Date Range ".
- By selecting the "From" start date, the date you connected the company; Enter the "to" due date, December 31st. If you established your company in previous years, you should choose the start date between 01 January 2023 and 31 December, which is the beginning of the year.
- Click on the Request Report button and wait a few minutes.
- Then download the report with the Download option.
You can look at the image below to follow the relevant steps.
You must enter the information in the reports you downloaded into the relevant entries in the Tax Declaration Form in dollars and as a total. If you have income and expenses outside of Amazon, follow the instructions below. You can see the image below for the Amazon report output.
Indicating Other Income and Expenses
If you are selling on a platform other than Amazon or on both, you should specify the reports you receive there by collecting them together with Amazon reports according to the date range appropriate for your company.
Attention please! All other income and expense items belonging to your company must be written in total in dollars ($) in the entries under the relevant headings in the Tax Declaration Form .
When filing taxes in the USA, receipts, invoices, etc. Although there is no obligation to send documents, you have the obligation to prove the expenses you declare. However, it is important to keep the documents so that you can prove the expenses you declared in a possible audit.
Additionally, the expenses you declare must be strictly related to your business. You should keep your personal expenses separate from your company expenses and you should never declare your personal expenses as company expenses.
You can show most of the expenses you make regarding your company as expenses. To make your job easier, you can find expense items as detailed as possible in the Tax Declaration Form .
However, if you have an expense that is not on the list, please indicate this external expense using the Other Expenses section on the last page of the notification form. In this section you can detail and explain any additional expenses.
Remember that reporting each of your expenses accurately and completely is important to ensure the accuracy and validity of your tax return. If you have any questions, you can ask by contacting us.
