I started a side gig as drop shipping Shopify business in the beginning of the year I got $26k revenue so far with 20% profit margin. I spent some ads and logistics too. So total profit around 10 - 15 % Anyone can help me how to apply for taxes ? I have EIN for this business too
You just need to pay taxes yearly but usually you pay estimated taxes quarterly. Filing an LLC is optional for the most part. However I’d just spend like the couple hundred to talk to a CPA.
what are you selling? how do you advertise