Is your business struggling from financial hardship due to the coronavirus pandemic? Find out if your small business is eligible for the 2021 supplemental Targeted EIDL Advance from the Small Business Administration.
If you’re already a fan of QuickBooks Desktop, it doesn’t hurt to give QuickBooks Desktop Payroll a shot. However, if you already love the accounting software you’re using, are on a tighter budget, or would feel overwhelmed by numerous features, QuickBooks Desktop Payroll may not be the right software for your business.
Education Tax Deduction For Businesses: What The New Stimulus Packages Means For Your Tax Deductions
In addition to these loans and grants, the government stimulus packages have also provided help through tax credits and deductions. These credits and deductions help cut tax liabilities and allow business owners to keep money in their businesses (and their pockets).
The economic impact of the COVID-19 pandemic has been harsh, particularly on small businesses. Fortunately, there have been a number of loan and grant programs open to small business owners to offer financial help during these tough times, one being EIDL.
One form of relief offered to small businesses is the Employee Retention Tax Credit. First introduced in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, this tax credit could be claimed by eligible employers on quarterly tax returns. This program was expanded by the Consolidated Appropriations Act signed into law in December 2020, making the credit accessible to more employers.
Whether you’ve already been through the PPP application process or you’re searching for funding for the first time, this post is for you. We’re going to cover the most frequently asked questions surrounding the second round of PPP funding. We’ll cover topics such as the requirements you must meet to receive a loan, how funds can be used, and whether you can receive another PPP loan if you already received one (spoiler alert: you can!)
Freelancers are self-employed individuals that work for themselves. Freelancers typically perform work for various clients. In some cases, freelancers may perform one-time services for clients, while other times they may work on longer-term or recurring projects. Freelancers may work for themselves full-time, or simply take on side gigs in addition to their traditional job.
Xero’s advanced features, numerous integrations, and support for unlimited users make it a top choice for mid-to-large-sized businesses that are willing to put in the time and effort to learn the software. FreshBooks is a better fit for smaller businesses that want easy-to-use software equipped with basic features like invoicing.
For many freelancers, tax time is a time of stress. It’s easy to let fear and panic take over. What are these forms you’re receiving in the mail? What forms do you file? Is the IRS going to take all of your hard-earned money? In this post for freelance taxes 101, we’re going to break it down for you.
A budget is nothing but a piece of paper (or spreadsheet) if you don’t stick to it. Watch out for overspending, cut costs where necessary, and adjust your budget as needed to account for any changes in your business.