1-800Accountant Blog

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4 Accounting Tips for New Gig Economy Businesses

There are many terms for providing a service as a small business – gigs, contracting, freelancing, and the trade industry just to name a few.  Many people just starting their businesses are enthusiastic to develop their product, but unaware of some simple accounting practices for small businesses. These tips can save both time and money […]

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9 Accounting Best Practices for Truckers

Learning to keep track of your books is important for any business owner. Sound financial information makes it possible for them to accurately maintain their books, file their taxes, and make business decisions. There is a lot of work that goes into maintaining your books and keeping track of your accounts. If you don’t organize […]

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Top 3 Accounting Challenges Facing Cannabis Startups

The cannabis industry is growing at an astronomical rate; some experts predict that by 2021, it will be a $20 billion dollar industry. Smart investors and entrepreneurs like you want in on the action. While the high rate of returns certainly encourages one to jump on that ‘ship,’ it’s important that startups understand that the […]

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What Are the Different Types of Accounting?

If you ask small business owners to identify the different accounting types, they’ll more than likely name the two accounting methods they use to operate their business: cash or accrual accounting.  They might not realize that these are just the primary accounting methods in one broader type of accounting – management accounting. There are numerous […]

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Small Business Recordkeeping 101

Maintaining business records is a must for any small business. Keeping good records ensures that your business runs smoothly and efficiently, and that you’re prepared when tax time rolls around. Many businesses have experienced crippling issues that compromise business success when they ignore basic recordkeeping practices. Here’s a primer on small business recordkeeping and why […]

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How to Handle Outstanding Invoices

If you own a business, it’s likely you’ve encountered a customer or client who’s late in making a payment for goods or services you provided. Late payments can sometimes drag on for months or even years. Clearly, you don’t make money if you don’t get paid. So, it’s important that you follow up. But what’s […]

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What’s the Difference Between Bookkeeping and Accounting?

When it comes to maintaining financial records for a business, ensuring your data is complete and accurate is essential. Accounting and bookkeeping are two important processes that small business owners utilize to ensure their financial information is correct. The line between bookkeeping and accounting becomes blurrier each year that passes. Both bookkeepers and accountants work […]

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What Happened to Form 1040A and Form 1040EZ?

Prior to the 2018 tax year, when you filed your personal income tax return with the IRS, you had a choice of three basic tax forms to select from: Form 1040, Form 1040A, and Form 1040EZ. The one you used depended on the deductions and credits you were planning to take. Well, no more. The […]