Running an online retail shop can be a rollercoaster ride sometimes, right? From working with our clients that run online retail, we know that sometimes you just want that consistent feeling of steady income each month but sometimes that just doesn’t happen. Maybe you have steady sales each month but month over month those sales […]
Whether you’ve already filed your taxes or you are gathering everything to prepare for “tax day”, you probably have heard through the grapevine, read somewhere your maybe even your CPA told you that starting with 2018, you can no longer deduct entertainment expenses and a lot of the meal deductions we previously were able to […]
Poor financial management is the number one reason businesses fail. Bookkeeping and accounting are absolutely essential for every business, and in today’s modern world, your bookkeeper and accountant could be on the other side of the country. Virtual bookkeeping is an extremely convenient, cost effective way for small businesses to get their books done. Having […]
The Supreme Court Sales Tax Ruling is changing the game for online retailers. Many states are requiring online retailers to collect and remit sales tax even if they business does not have a physical presence in the states. This will be a major shift for online retailers and for consumers who are accustom to not paying sales tax when shopping online.
Bookkeeping and accounting are two different things, who knew? To most, the two functions appear to be the same profession. Today, we are breaking down the main differences between bookkeeping and accounting. While there are some similarities between the two, you will come to find they are most definitely two separate functions. Let’s start with bookkeeping!
Last year we talked about ways your small business could give back. Now, you have made a commitment as a business owner to give to your favorite cause, organization, or initiative, congratulations because that is awesome! But now that you are actively giving back as a business, you will want to record and write off your charitable contributions. Why you might ask? First off, that’s good practice, and second, tax breaks! We are sharing seven tips and tricks for recording and deducting charitable donations.
We’re a few weeks into 2018, so at this point 2017 is still fresh. What went right last year? Where do you go next? What was a series of unfortunate events? For us, we want to interact with YOU more and provide more of what YOU want. We heard you loud and clear with your […]
It’s hard for to imagine a time before online bookkeeping software. Writing transactions in a financial ledger reminds us of daily journaling in grade school. Imagine the errors! With QuickBooks, we can create invoices on the fly and collaborate with our clients seamlessly. However, easier doesn’t always mean less work. Even with an automated system, small business […]
Getting your books ready after the new year is essential for every business. Even if you were organized in 2017, there are a few loose ends to wrap up in January. But, one problem we see is that many businesses don’t know where to start. They aren’t sure what steps are required to be tax-ready. […]
Want to avoid being “that” business owner? You know, the one who shows up to their accountant’s office with a box full of receipts? And has no idea if they’re in the red or the black? If you watch Shark Tank, you know poorly managed finances and a lack of knowledge doesn’t fly with Mr. […]