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Merch Minds Podcast

Jul 17, 2017

Glen and Yong have been receiving messages from listeners asking to include their expenses in their monthly income reports. However, they both agreed that it would be just too much work to crunch those numbers every month. Instead, they dedicated a whole episode to discuss their expenses.

Merch by Amazon is a very tricky business because there are no tangible products that we deal with. Instead, we have to be creative and find services and products that we pay for in our business. WHile they do have monthly expenses, they also discuss expenses that aren't consistent.

Remember, to always talk to your own CPA about what you can and can't write off. I find that every CPA offers different advice, so it's best to find one that is familiar with online businesses. Let the boys know what some of your expenses are.

Listed below are products and services that both Glen and Yong use in all the different hustles.

Annual Expenses
Adobe CC: $599.88
Dashlane: (5-Year Plan): $149.99
Dropbox: $99.99
Grammarly: $104.96
MileIQ: $59.99
Shopify: $312.00
Skillshare: $99.99

Monthly Expenses
Convert Kit: $29.00
Dreamhost: $10.95
GoDaddy Bookkeeping: $9.99
Libsyn: $30.00
Design Candy: $14.99
Merch Informer: $7.99
Placeit: $29.00

Occasional Expenses
Creative Market
Mighty Deals