1-800Accountant Blog


What Is Entity Compliance?

There many different federal, state, and local regulations that govern how businesses behave and organize themselves in the United States. The laws and rules that affect your own business will vary depending on where you’re located and the particular business entity you pick to structure your company.  Entity compliance is a shorthand term for everything […]


Pet Savings: 11 Tax Deductions for Veterinarians

Running a veterinary practice is a lot of work. Between providing care on the medical side and managing your business on the administrative side, it can be hard to balance and keep your priorities in order. You want to focus on the animals you love so much, but how can you concentrate when you have […]


Capital Gains Tax: What to Know When Selling Rental Property

Maintaining rental properties is a great way to earn passive income. Furthermore, many rental property owners choose to sell their properties, usually making a profit in the process. While selling a rental property can earn serious gains, sellers must understand how capital gains taxes will affect their sale.  Here’s what you should know about capital […]


What to Know About Small Business Taxes in New York

New York is an important state for business in the United States. Many of the biggest corporations have locations in New York City as well. It’s an exciting place to be, but that doesn’t mean it’s easy for businesses.  Business owners looking to establish a small business in New York will need to be aware […]


Business Entity: What Is an LLC?

An LLC can be a great way to grow a small business. It offers limited liability, something that can be helpful to its members. While LLCs can offer a lot of benefits, there are some drawbacks you’ll want to know about. Here’s what you should know about an LLC, how to form one, and more […]


A Guide to the Wayfair Tax

In June 2018, the U.S. Supreme Court ruled on a case that affected many online retailers across the nation. Before that decision, online and remote businesses did not have to collect sales tax unless the business had a physical presence in the buyer’s state. States were prevented from imposing greater requirements.  The decision in the […]


Do I Need to File an Extension for My 2020 Taxes?

At times, it can be tough to keep up with the clock’s fast-moving hands and the constantly turning pages of a calendar. Things may be moving so fast in your life and business that you are caught totally unprepared when tax season comes around.  The truth is that tax preparation is a year-long endeavor. Careful […]


Bookkeeping 101: What is Bank Reconciliation?

Bank reconciliation is a useful tool for both external and internal financial records. It can assist you in significant ways to protect your finances. It can also help you determine whether there are errors in your transactions and, if so, how you can correct them. However, there are two things that you should know about […]


What’s the Difference Between an LLC and an LLP?

There’s only one letter difference, so how different can they be? When you’re deciding how to choose the right entity for your business, there are a few important acronyms to learn and differentiate.  A Limited liability Company (LLC) is a legal entity under which you operate a business. With an LLC, you pick up the […]