The last thing any small business owner wants is an audit notice from the IRS. But there is a certain comfort in knowing your returns are accurate and you have the paperwork to back them up. That way, you know you’ll have a strong defense. But what happens if you get audited and don’t have […]
Truckers have a lot on their plates. Between long-haul deliveries, managing their schedules, and maintaining their vehicles, there isn’t always much time to dedicate to bookkeeping. However, bookkeeping for truckers is just as important as it is for independent contractors in other industries. The bookkeeping process is very detailed, requiring you to have your documents, […]
U.S.-based businesses can use dropshipping to fulfill customer orders without actually having to keep the products in stock. It’s a great way to save space, time, and money for retail businesses. Dropshipping is on the rise — the global market value is projected to reach $1670.1 billion by 2031. Interested in growing or starting your […]
You’re going to start a non-profit. You have a goal and decide that a non-profit business gives you the platform to reach that goal. You’re going to build an organization that will improve the world, whether on a local neighborhood scale or even a national or international level. The big question now is, what kind […]
Truck drivers work diligently all year round, but their efforts become particularly evident during tax season. As tax season approaches, truck drivers may be able to reduce their tax bill by claiming certain deductions. However, it’s important to note that there are some limitations and exceptions to these deductions for truck drivers. We’ll discuss everything […]
Bookkeeping is something that all businesses will benefit from starting. When it comes to how you do your bookkeeping, you may not know that you have options. Virtual bookkeeping is a bookkeeping option that may be right for your business, and it has advantages and differences. Learn more about how to hire the best bookkeeping […]
Tax deductions are crucial for filing your tax return if you don’t want to pay more than your fair share. Tax deductions work by deducting eligible expenses from your overall taxable income. Less taxable income means owing less in taxes, and it can even mean slipping down a tax bracket. Knowing how much your tax […]
We all know that paying taxes is a necessary part of life. You may have already read our guide on how to prepare business taxes. So, you may now be wondering about how to maximize your tax return. Thankfully, you can save some money while doing so. Most taxpayers are eligible to claim certain tax […]
When you’re in business for yourself, efficiency is everything. As an independent contractor, you can’t afford to waste any time. You need someone else to share the load or to look over your shoulder and check your work. That goes for your bookkeeping as well! Careful bookkeeping for independent contractors is essential to keep your […]
Understanding accounts receivable is an essential aspect of your business’s finances and payment terms. Accounts receivable are legally enforceable claims for payment held by a company for goods supplied or services rendered that customers/clients have ordered but haven’t yet been paid for. What is Accounts Receivable? Accounts receivable is goods, money, or services owed to […]
