Big news for anyone dealing with third-party platform payments: The IRS has announced a delay in implementing the new $600 Form 1099-K reporting threshold for 2023. Instead, they plan to phase in a higher threshold of $5,000 starting in 2024. This follows the decision to maintain the existing $20,000/200 transaction threshold for the 2022 tax year, which will now continue through 2023 as well.
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The world of e-commerce is constantly evolving, and staying up-to-date with the latest tools and features is crucial for online store owners. The recent release of WooCommerce 8.3.0 brings exciting updates that will significantly enhance the online shopping experience. Let’s dive into what’s new and improved in this latest version.
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If you’re an Etsy seller in the United States, there’s an important change you should be aware of for the 2023 tax year. Etsy is now required to report to the Internal Revenue Service (IRS) the sales amounts of any U.S. seller who made over $600 in gross sales. This is a significant shift from the previous threshold, which was $20,000 and at least 200 transactions. Because of this lower threshold, many sellers who haven’t received a 1099-K form from Etsy in the past will likely receive one this year.
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Here are my latest weekly notes, focusing on eCommerce marketplaces: #Walmart #Amazon #Tiktok #Grok #Openai
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Here are my latest weekly notes, focusing on eCommerce marketplaces: #Walmart #Amazon #Michaels #Woo
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My a bit messy, but short notes for the week of Oct 21 – 27, 2023. Keeping an eye on eCommerce marketplaces: #Walmart #Amazon
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Amazon has announced its Extended Holiday Returns policy for 2023, which is one month shorter than the guidelines Walmart released earlier this month. Products purchased between November 1 and December 31, 2023, can be returned until January 31, 2024. For Apple-branded items, the return deadline is January 15, 2024.
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A Stackline report unveils that only 0.2% of shoppers leave reviews despite their vital role in purchase decisions. The value of a five-star review can be substantial, significantly boosting visitor traffic and conversion rates. This highlights the importance of customer feedback in the online marketplace and indicates a need for brands to encourage reviews.
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Amazon has rolled out enhanced protection for generic product listings. These are products without a recognizable brand affiliation. By labeling a product “Generic”, sellers gain exclusive edit control on its detail page, although some restrictions apply.
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