Accounting, Bookkeeping & Tax Blog

Your small business resource for accounting, bookkeeping, and taxes from our experts.
what-is-equity-in-business

What Is Equity in Business and How to Calculate It

For business owners, equity is a vital tool that you can use to your advantage. There are different equity types that serve different purposes within your business. Here’s an overview of what equity is and how to calculate equity in a business. What does equity mean in business?  Equity comprises the net value of a […]

etsy-store-sales-tax

Making Sales: How Does Sales Tax Work on Etsy?

In the age of e-commerce, online merchants like Etsy are invaluable business platforms for many small businesses. Platforms like Etsy, known as marketplace facilitators, give countless small businesses access to a wider audience and a simpler sales process, but you need to know how to calculate, collect and submit Etsy sales tax information on your […]

small-business-end-of-year-tax-tips

4 Small Business End-of-Year Tax Tips for 2022

Q4 is well underway. Small business owners know that now is the time to prepare for 2023. Whether you’re a seasoned business owner or you’ve just passed your one-year anniversary, you know that there’s a lot of planning that goes into running a successful business. There’s a lot to juggle between marketing strategies, inventory, budgeting, […]

end-year-tax-checklist

End-of-Year Income Tax Checklist for the 2022 Tax Year

December is coming up fast, and that means the 2022 tax year is coming to a close with it. Wherever the numbers fall on December 31st, that’s what you have to deal with in April. It’s important to think ahead, go through your income tax checklist, and prepare your business for year-end.  Of course, with […]

start-dba-texas

How to Start a DBA in Texas: 5 Steps

As a business owner, starting a DBA in Texas may be useful for your small business. A DBA can allow you to use a different business name without its legal name, which may be beneficial. While it isn’t difficult to start a DBA in Texas, there are essential things to know beforehand. Your business entity […]

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IRS Debt Passport Revocation

While hiding one’s head in the sand can feel better than actually dealing with the problem of tax debt after an IRS Audit, it needs to be dealt with sooner rather than later. Especially if a taxpayer has plans to travel, needs to travel for work, or would like to be able to travel internationally […]

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The Most Overlooked Tax Breaks and Deductions for Retirees

Regardless of age, working folks will always have one thing in common: the need to file taxes every year like clockwork. And somehow, it’s already that time of year again, where a tax filing can either result in a nice chunk of change in the form of a refund, or a stressful tax bill.  It […]

letter-6475

Letter 6475: What Is It & What Are the Benefits

Monday, January 23, the tax season is expected to officially begin. As you prepare to file your taxes, keep an eye out for two letters from the IRS: Letter 6419 and Letter 6475.  What are the letters 6475 and 6419? These letters are not a cause for concern. However, they are important for your tax […]