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Tax Man says Amazon Owes US $234 Million

Doesn’t matter how many new fulfillment centers Amazon opens up, they can’t avoid paying the tax man. 

In November of 2012, Amazon received a notice of unpaid international taxes in the amount of $234 million from 2005-2006. While unpaid taxes is nothing new to Amazon, the online marketplace believes the IRS is overestimating the balance and will contend it in court.

The Internal Tax Revenue says tax payments made from Amazon’s units in Europe to the parent US Company were too low and the agency is also contesting tax deductions Amazon claimed on its net operating losses. According to the court filing, Amazon is arguing the IRS is overestimating the value of Amazon’s “tangible property,” which includes computer software, trademarks and marketing assets. Amazon also faces $1.5 billion in additional federal taxes over a seven-year period beginning in 2005.

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4th Quarter Earning–eBay Shows Strong Holiday Shopping and Mobile Growth

The holidays were good for eBay sellers. The online marketplace reported third-party sellers sold $19.1 billion worth of goods in the fourth quarter of 2012 alone. eBay earned $2 billion in revenue from its marketplace business with almost 60% of revenue coming from their international marketplaces. Not bad for a marketplace that saw the number of global active users grow 12% in just the fourth quarter with 112.3 million.

eBay contributed their international marketplace growth to site enhancements, emerging markets, and mobile devices. In fact, the company saw $13 billion in goods purchased from mobile devices with PayPal processing $14 billion in payment from smartphones and tablets. Although the company had forecast it would double mobile GMV to $10 billion in 2012, eBay’s CEO John Donahoe and his Chief Financial Officer Bob Swan emphasized the company’s strength in mobile is growing.  

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Kabbage’s Take on the Affordable Care Act

At Kabbage, we get to talk to lots of small business owners. And, one of the issues commonly shared is concern over health care costs and insurance. From providing health insurance for employees to understanding the Patient Protection and Affordable Care Act, there’s a lot to consider when it comes to health insurance coverage now and into the future. 

One thing is for certain, big changes are just around the corner for employers, employees, as well as for health care providers and insurers. Trying to make sense of the new healthcare act, commonly called Obamacare, is no easy endeavor. So, we thought we’d provide a brief synopsis of some of the more important aspects that affect small business owners.

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Amazon Marketplace Outsourcing

What makes us different from our competitors and why should you hire us?

We believe that to be successful on Amazon, you need to have the experience and the right type of person to handle your Amazon account. Not everyone is fit for e-commerce, as we all know it’s very tedious and hard work. Below are the reasons why clients love us and why we do what we do.

PASSION- Our passion is helping people and our companies mission is to help your Amazon business grow to new heights.

WE LOVE AMAZON
 – We specialize in Amazon and that’s what we love to do. Unlike other outsourcing companies, all of our staff are trained to deal with only Amazon and E-commerce tasks.

RESOURCES – By choosing us as your partner for your Amazon business, you’ll have a whole office of talented individuals at your disposal. Web developers, graphic designers, copy writers, bloggers, social media specialists, amazon data entry specialists and more!

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Electronics Accessories—Amazon Sellers Hurting over Price Hikes

Amazon wants that money. Although Amazon.com made the announcement in August of last year, many Amazon sellers were caught off guard this week when seller fees for the new Electronics Accessories category actually went into effect. Fees for the new category include 15%, or $1.00, for anything sold under $100, and 8% for any portion of a product’s sales proceeds over $100.

Prior to January 15, 2013, sellers had listed their products in the Consumer Electronic category, which covered all electronics and accessories. However, Amazon announced in August they would be launching a new category (Electronics Accessories) for these products with higher fee rates for third-party sellers. Products in the new category include headphones; surge protectors; tripods; film; batteries; screen protectors for cell phones; MP3 docking stations; ink and toner; and gaming accessories.

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SumAll Adds Analytics Tool for Amazon Sellers

Amazon sellers rejoice. Now third-party Amazon sellers can gain “business intelligence” with insight into traffic statistics of their Amazon store. SumAll officially added integration with Amazon Marketplace and Webstore to provide sellers with real-time analytics to track a variety of data statistics.

SumAll’s new analytics tool for Amazon sellers can track new versus returning customers along with sale histories. Sellers can set goals and view trends from multiple channels including ecommerce stores and marketplace accounts. The platform can even send daily emails containing analytic information to users. SumAll already includes multiple data sources including PayPal, eBay, Shopify, Google Analytics, Facebook, Twitter, Instagram, YouTube, Magento, and Big Commerce. Amazon sellers can also use SumAll to track multiple amazon stores and a variety of different selling channels.

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Kabbage gives Online Businesses a Break

January 16, 2013–For the past 11 years, Jenny McMillan of Newark, Del., has been running McMillan Books, an online bookstore that primarily stocks used books, CDs and DVDs. What began for McMillan as an eBay hobby in 2001 became a business by 2005, and she left a full-time marketing job to purvey goods with her husband on Amazon and BarnesandNoble.com, in addition to eBay.

It’s a healthy operation, but the nature of the business has often presented the McMillans with sudden chances to purchase rare items and antiquarian books — opportunities that, due to the outlay required, they typically couldn’t afford.

“Without the ready cash, we were not always able to take advantage of these opportunities,” McMillan said.

Last year, they decided it was time to find a way to solve that problem, and get access to the capital they needed to help McMillan Books grow. Enter Kabbage, an online financing company based in Atlanta that provides cash advances to help businesses expand. Focused on online vendors like the McMillans, Kabbage’s lending criteria judge businesses on based Web-oriented benchmarks.

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PayPal Continues to Expand POS Service for Brick and Mortar Retailers

January 16, 2013—PayPal wants to be a major player in the point-of-sale service. The online payment processing company announced earlier this week they had exceeded their goal of signing up 20 large national retailers to its POS service by the end of 2012. PayPal’s VP of Retail service said the company currently has 23 retailers in agreements for the service.

“The vision we started to lay out in 2012 is quickly becoming a reality, and when you now walk into 18,000 physical stores around the U.S., you see the PayPal name when checking out, making the reality of any time, anywhere payments come alive.”

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