Accounting, Bookkeeping, Invoicing Blog Posts | Page 4

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.

Whether you’re a full-time small business owner or you do freelancing work on the side, doing your taxes can be stressful. One way to ease some of that tax-time stress is by lowering your tax liability with credits and deductions, such as the standard or actual expenses mileage deductions.

Are you a small business owner that’s rewarding your employees with a year-end bonus? You will need to decide how much to give, when to distribute the bonus, and calculate how much taxes to withhold based on the bonus tax rate for 2022 (spoiler alert: tax calculations for bonuses are different from regular wages).

The good news for those who received PPP and EIDL loans is that, in most cases, your tax liability won’t be impacted — at least on the federal level. You also won’t need a ton of additional paperwork to take to your accountant. Keep reading to learn more about how SBA loans will affect your tax return and how you can be prepared this tax season.

With both contenders offering minimal fees and nearly identical flat-rate pricing, most businesses won’t see a significant overall price difference between them. Whether Square or QuickBooks will be the better choice will mainly come down to which of the two companies offers the better features your business needs to grow and thrive.

QuickBooks has lots of customization options already built-in, and the latest version of the software includes customizable bill payment stubs. Add your logo, update billing details, and change the format to create a custom payment stub that can be sent to a single vendor or multiple vendors at once.

Xero boasts an app store with over 1,000 software integrations that allow businesses to use multiple pieces of software together. Unfortunately, that’s 1,000 software integrations too many when you’re trying to find the right software for your business. You’re in luck, though; this guide provides a great starting place for small businesses looking for software platforms that integrate with Xero.