Generating revenue is likely one of your company’s top goals. Part of that includes paying yourself as the business owner. However, the process doesn’t need to be overly complicated. Here’s how to make sure you get compensated for the time and effort you spend running your company. Owner’s Draw vs. Salary There are two ways […]
For many people, self-employment is the ultimate dream. Working for yourself provides many benefits, including flexible schedules and more control over your creative goals. Not having to deal with office politics is also a nice bonus. However, there are many aspects of running a business that requires a great deal of time and attention, including […]
Online Sellers Have Less Than 30 Days to Find a Bookkeeping Alternative GoDaddy bookkeeping clients recently received a surprising notice from the web hosting company: GoDaddy will permanently retire its online bookkeeping software. The news comes as quite a shock, especially to eBay sellers and other e-commerce business owners who have long depended on the […]
Summer is just around the corner, which means a lot of things are on the horizon… graduation parties, Father’s Day, and the end of Q2 for most businesses. Individual taxpayers can breathe a sigh of relief until next April. However, small business owners and those that are self-employed must remember that the Q2 estimated taxes […]
If you meet the requirements to take a home office deduction, it might seem like a no-brainer to take it, right? Not so fast. While this deduction can certainly provide a lot of value to your bottom line come tax time, it’s not always in your best interest. There are many variables that you need […]
Generally Accepted Accounting Principles (GAAP) measure the financial health of public companies. There are standards within GAAP that provide other accountants with information. The main goal of GAAP is to ensure that financial reporting is transparent and consistent across organizations. What Is GAAP? GAAP refers to a set of accounting principles, procedures, and standards that […]
When it comes to running a small business, there’s one crucial aspect that you need to figure out — especially if you have employees. After all, payroll determines how you and your staff get paid! There are tips you can implement to make payroll more efficient. There are also strategies you can use to streamline […]
Effective marketing is crucial for virtually every business. With the abundance of inexpensive marketing tools available on the internet, it’s now easier than ever for companies to handle their own marketing campaigns without hiring an expensive external firm or purchasing costly equipment or software. However, there are some services you may want to consider investing […]
It’s impossible to predict the future with complete accuracy. However, it’s still important to stay aware of rising business and accounting trends; doing so can put your business on the path to achieving its goals. 2022 is well underway, and today’s business environment is rapidly evolving with new technologies, risks, and customer demands. While pandemic-related […]
As a small business owner, you probably have a list of things you hope never to experience; things like bankruptcy, litigation, and the dreaded IRS audit notice. Though the chances are slim, an IRS audit can happen to any small business owner. Sometimes they’re triggered by a mistake or unusual reporting on your tax return, […]
