Accounting, Bookkeeping & Tax Blog

Your small business resource for accounting, bookkeeping, and taxes from our experts.

Financial Accounting Basics for Small Businesses

As a small business owner, you should never overlook your accounting needs. Learning the financial accounting basics is essential, regardless of industry or entity type.  There are accounting basics and terms which are helpful to know as your small business develops and can help you understand the most critical financial concepts. Here are the financial […]


What is a 509(a) Tax Status?

What does it mean to have a 509(a) status in the United States? What provision does the law offer, and which government agency grants this distinction and oversees them? Organizations that are classified as 501(c)(3) tax exemption status are further classified by the government as one of five types under section 509(a) of the Internal […]


The Problem with Petty Cash

A cup of coffee, a quick supply run while on-site at a project, a thank you lunch for your team —  all expenses paid for out of your petty cash stash. It seems much easier to use cash for those small expenses. However, petty cash is fraught with problems that can wreak havoc within your […]


Inherited IRAs: What Beneficiaries Need to Know About Their Tax Options

When a loved one or relative passes away, they may leave behind an inherited IRA. As the beneficiary, you may be the recipient of either an inherited Roth IRA or an inherited traditional IRA. Different timelines can affect beneficiaries. Beneficiaries also have rules for handling an inherited Roth IRA or an inherited traditional IRA. Here […]


4 Key Tax Strategies for Investment Property Owners to Save Money

There are several key tax strategies for investment property owners that can help save money on taxes. You can use tax strategies to defer tax payments or reduce the amount you owe. However, there are different rules for different strategies you must remember. Here are tax strategies for investment property owners. 4 Tax Strategies for […]


5 Things You Need to Know About Taxes for Amazon Sellers

If you want to make your products accessible and get them in front of as broad an audience as possible, Amazon is the biggest online marketplace around, and there are some important things to learn about taxes for Amazon sellers.  There are some unique processes and rules around selling on Amazon, however, and it’s important […]


What Taxes Do Truck Driver Operators Have to Pay?

Truck drivers are some of the most resilient workers in the country. Long-haul trips, maintaining compliance with the FMCSA, and dealing with poor weather conditions and other drivers are all things truck drivers must deal with regularly. To top it off, truck drivers who are also owner-operators have additional tax requirements to consider. Here is […]


21 Hot Side Hustles You Can Start in 2022

This is the age of the side hustle. Not only do a growing number of full-time workers have a side hustle, but there are many others who have been able to completely replace their full-time income with side hustles.  Side hustles offer a ton of benefits for workers. On top of bringing in additional income, […]


How to Maximize Year-End Charitable Giving in 2021

The end of the year is rapidly approaching. And while you might be eager to kiss 2021 goodbye, you might not like how fast it’s coming to a close. There are a lot of critical year-end tasks (like maximizing charitable giving!) and considerations for people and businesses. The end of the year is a busy […]


5 Budgeting Tips for New Small Business Owners

Every business owner wants and needs to make money, but no one wants to have to think about money and cash flow every day and all the time.  You need money to keep building and growing your business, and success means you continue to earn back your investment and more in profit. Ideally, however, you […]