Accounting, Bookkeeping, Invoicing Blog Posts

Believe it or not, Wave doesn’t skimp on the features despite the free price tag. Wave offers an impressive feature set, especially for a free accounting program, with thoughtful automations to save your business time. With Wave, you’ll find strong invoicing, traditional bookkeeping features, expense tracking, and even tax support — and many of these features can stand their ground against paid accounting programs.

Thanks to the pandemic, every business owner has extra stress this year. Thankfully, the government is easing some of that stress by extending the April 15 annual tax return filing deadline. Here is our quick guide to finding the business tax extension form and everything you need to know to file correctly.

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).

Intuit has dominated the accounting software market for years. QuickBooks is a household name, with a reputation for reliability. It’s only relatively recently that the competition has begun to heat up – and it’s happening in the rapidly expanding field of cloud accounting software. Specifically, it’s happening with Xero.

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.

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.

There are business grants out there that give small business owners and entrepreneurs access to capital. However, it isn’t as easy as pulling out your credit card and receiving a magic list in your mailbox. It takes work to find grants that you qualify for, and even then, competition is pretty stiff. That doesn’t mean you should automatically write-off business grants, though.