Accounting, Bookkeeping & Tax Blog

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

What Happens If You Get Audited and Don’t Have Receipts?

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 […]


How to Create a Simple Bookkeeping Spreadsheet for Your Business

Efficiently managing your business finances may seem like a challenging task, but with a well-structured bookkeeping spreadsheet, you can easily track your financial transactions. Whether you decide to create the spreadsheet yourself or to work with an accounting professional, understanding the different types of accounts is crucial. In this article, we’ll outline the key aspects of […]


199A Pass-Through Deduction: What is it and how to calculate it?

The political process can be hard to follow. Different proposals flow back and forth as possible legislation slowly takes shape. But even as the picture gains clarity, it’s hard to predict for certain what will happen. Bills constantly change through negotiation with different groups, and it’s not guaranteed that the final bill will pass.  As […]


Navigating Dropshipping Taxes for U.S. Based Businesses

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 […]


Savings on the Road: Tax Deductions for Truck Drivers

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 […]


Virtual Bookkeeping: How To Find the Best Online Bookkeeper

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 […]


Standard Deduction for 2022-2023: Everything You Need to Know

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 […]


7 Tips to Maximize Deductions and Credits in 2023

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 […]