Accounting, Bookkeeping, Invoicing Blog Posts

Whether you’ve received an underpayment notice from the IRS or you’re just looking to avoid underpaying on your taxes, this post is for you.

The qualified business income deduction is a tax deduction for eligible small businesses and self-employed individuals. This deduction allows taxpayers to deduct up to 20% of qualified business income from their tax returns.

Tax time is stressful enough for small business owners. Add in new tax laws that pretty much require a translator to decipher, and it can make the start of the year even more chaotic. In this post, we’re going to break down these laws and how they may impact your 2021 tax return.

Crypto accounting is challenging. This is largely due to the lack of cohesive accounting and tax protocols set for virtual currencies. The upside here is that there are some established methods of crypto accounting and IRS guidance on how to treat cryptocurrency on your tax returns.

In doing research on possible small business deductions, you might be wondering “what is the Work Opportunity Tax Credit, and do I qualify?” This post will walk you through the basics of what this credit (also known as the WOTC) is all about, and help you determine if you can claim it during this tax season.

In response to money transfers growing in popularity, the government has stepped in to change tax laws surrounding reporting income from cash apps. Whether you’re a small business owner or just someone that frequently uses cash apps and you need to know the IRS rules for cash app payments, this post is for you.

If you made less than $5,000 in income, you may not be required to file and pay taxes based on a number of factors. For example, individual taxpayers that are married filing separately or dependent taxpayers may be required to file a tax return, even if they made less than $5,000. In some cases, you may want to file even if you don’t meet income requirements because you may receive a tax refund.

With the US’s debt collection industry accruing an annual revenue of about $13.4 billion, it’s safe to say that non-paying customers are a fairly common occurrence in the business realm. However, before you send your customer accounts to collections and wash your hands of the matter, make sure you have exhausted all viable means of contact and collection with the customer.

Dreading tax season? These 3 accounting programs can help you handle your business taxes with ease and file the correct forms on time.

A round up the top accounting software for freelancers and great freelance tools that you should know about to help your business succeed, including everything from email marketing software to website builders to mobile payment apps and more.