[SFTB] ️👮 Avoid Audits: Filing GST/HST returns for Amazon sellers (the right way) Read Time: 7 Minutes 🌴Tropical Trivia🌴 What was the original name that Jeff Bezos first considered for his online bookstore before settling on "Amazon"?
Amazon AI - Working as intended? 😂
Today's Newsletter: More Value than a split to a banana! 🍨
- 30 Exclusive Amazon Hacks
- The new Low-Inventory Fee explained
- The right way to file your GST & HST
- A/B Testing is NOW
- How we got our NEXUS Card
What's Going on at the Beach?
February has been a big month for us at the Beach. On March 1st we officially sold our condo! The good news is the new owners agreed to rent it back to us for 15 months while we build our house! We bought land in the same community about a year ago and now the next year will be about building our family home. Since Chase is in grade 4, realistically this will probably be the last house they will remember growing up in, so we want to make it count and be really special. So expect more updates in this newsletter on our progress. Personally, my highlights will be the Lego room/hobby room, and maybe the new office. Marsha gets the rest of the house.
credit: midjourney / put the laptop down and enjoy the view
Your Favorite Time of the Year - TAX TIME!
Okay, maybe it's not your absolute favorite time of year... regardless - we're here to make it a bit better.
Dive into our top-rated course on mastering GST/HST returns for Amazon sellers. Constantly updated to reflect Amazon's evolving reports and tax collections, it's perfect for DIY enthusiasts.
Packed with videos, screenshots, and detailed guides on GST/HST, tax invoices, and more, it's your shield against costly GST mistakes that many sellers fall into yearly.
Facing an audit? We've got you covered with a dedicated section for smooth sailing through audits. Plus, don't forget about our our 1-hour expert calls for a deep dive.
Sign Up Now The 1% Zone 👊 Actionable Amazon Tips Have you read James Clear’s Atomic Habits? Little things add up. Here's something you can to TODAY to improve your business: 30 More Amazon Hacks!
Did you know Max is writing an exclusive Amazon hack every day of the year on Linkedin? Also it's a leap year so that's one extra! 🥂
Miss the first 20? Start here.
Here's the next 30:
21 #1 Credit Card for Amazon PPC 22 Why you should use a sourcing agent 23 Using GS1 barcodes 24 How to use the Listing Quality Dashboard (LQS) 25 Optimize for Mobile first 26 Getting money Amazon owes you the right way 27 The best AMEX cards to use for an Amazon business 28 Why you should fill in listing attributes 29 How to be ruthless with your packaging size 30 How to use Amazon AI to create images 31 Why Keepa is best for analyzing variations 32 Slow sales checklist 33 Collecting business cards like a boss 34 People don't read bullets 35 What not to do with inserts 36 Fixing NARF Errors 37 Print your product labels the right way 38 Dangerous product types to sell 39 Massive Amazon Fee List 40 Which marketplace to sell into first 41 Focus on what matters 42 How to delight your VAs 43 Automating more things in your business 44 Stop liquidating your products 45 The right way to ship during Q4 46 How to light money on fire 47 Setting the right barcode preference 48 The easiest way to get rid of hijackers 49 Spying on your competitors is easy 50 Using Seller Wallet to pay suppliers 2/ Traveler's Toolkit 🛩️The Latest Travel Hacks Flights, hotels, packing and everything in between. NEXUS CARDS
If you're traveling a lot to and from CANADA/US, a NEXUS card is a great idea. They're cheap -- only $50 -- and last 5 years. Their main purpose is to reduce your wait times when entering either country (you get to go in the cool kid lineup).
Here's how it worked for me:
> I applied online, and paid the $50 fee. > After about 6 months, I was asked to come in for an "interview" at the NEXUS Office (unfortunately at the airport). > The interview was really just a guy explaining the program for about 2 minutes. > The next time I went into the States, I had to ask the US Border Guard to do the US section of the "interview" > Again, not an "interview," they just asked me like 2 questions while waiting in line. > After approval, my card came in the mail a couple weeks later.
All in all it took about 10 months from start to finish.
Worth it!
3/ The Local Lowdown🌴 Things You Didn't Know About Paradise The good, the bad, the f***ing great.
Skip the Car Rental - Rent a Golf Cart! Car rentals are pretty expensive in Costa Rica, especially in the high season December - April. Depending on where you are planning on going, renting a golf cart might be an option! Some of the beach towns in our area are great for using a golf cart to get around and are street-legal. Longer trips wouldn’t be practical, but if you are staying more locally, they can be a good option! They are easy to park, go fast enough, less expensive than a car, and just kinda fun to zip around in! Check out in your area if it is golf cart friendly and check the rental rates before committing to a car rental. Most will sit 4 people, but some larger carts will sit 6. Make sure to double-check where you are staying allows for golf cart parking and charging.
4/ SFTB Facebook Group - Stuff You May Have Missed Value-packed community posts.
- Abdul asks how to download customer invoices for a CRA review
- Rana helps Lori explore the value of advertising
5/ The Sand in my Swimming Trunks🤬 (What I'm Pissed About Lately) People who don't A/B test. Either images or price. Why?
Do you not like money? 🤬
There's so much money left on the table when you don't test. We asked on LinkedIn how many people haven't changed their product image in the last year. The results were okay, but not great.
Here's a common sight. Zero price changes since July 2022. Not even during Q4. Don't make this mistake.
Speak Up! Community Comments & Questions: Want to have your question answered in the newsletter? Want to give us a piece of your mind? Send us an email at [email protected]
James McConnell Jr. Explains the new Low-Inventory Fee (in depth). And it is... scary AF 😨
- TL;DR: Do not dip below 35 days of inventory or above 179 days of inventory or you will be in a world of pain.
Tyler Wallis shows how to be more profitable and better for the planet (at the same time).
- TL;DR: Make your products' packaging a lot smaller and stronger.
"Anyone can steer the ship when the sea is calm." -Pubilius Syrus It's over? Aw :(
If you liked this newsletter, here's where we share more stuff like it:
1. 🤓Just getting started? Check out the Free Amazon FBA Course 2. 🎙️ Listen to the latest episodes of The SFTB Podcast 3. 💸 Increase your income today with Online Arbitrage Training 4. 👔 Need an Accountant? Accounting Services 5. 📧 Want some 1-on-1 time? Rob & Max
All the best,
Rob & Max