Accounting, Bookkeeping & Tax Blog

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

GAAP: What Are Generally Accepted Accounting Principles?

Accounting is a massive and diverse field. Accounting services can include everything from bookkeeping and tax preparation to auditing and business plan development. There is no single path or training required to become an accountant, either.   However, there are some grounding rules and principles that all accountants rely on in all that chaos. And there […]


Accounting for Startups: A Beginner’s Guide to Accurate Finances

Accounting for startups is a crucial piece of starting a new business that entrepreneurs should pay extra attention to. Proper accounting allows your startup to stay compliant with taxes, manage expenses and revenue, and plan for future expansion. Startups have different accounting needs in comparison to established businesses. Here’s your accounting for startups guide. Accounting […]


5 Things Entrepreneurs Need to Know About Small Business Accounting

Starting a business can be equally exciting and stressful. Before you can get your business up and running, there’s much to consider regarding small business accounting and taxes. Ideally, a CPA (certified public accountant) tax accountant could handle everything from the initial EIN filing to business tax preparation on your behalf, so you can focus […]


Self-Employed House Cleaner Tax Deductions

Nothing may be more rewarding than laboring all day to clean up a messy house and then seeing how sparkling and new it looks after this hard work. While house cleaning service providers may get this nice dose of satisfaction, they are still like all self-employed professionals who get hit with countless taxes and IRS […]


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 You Need to Know About Basic Accounting for a Partnership

The basics of accounting for a partnership business are similar to accounting for a sole proprietor. However, there are some key differences that are worth knowing when it comes to crunching the numbers.  A partnership differs from a sole proprietor in that a partnership is a collection of multiple sole proprietors. For multiple sole proprietors […]


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 […]


Small Business Accounting: Cash vs. Accrual

When it comes to running a small business, understanding the advantages and disadvantages of cash vs. accrual budgeting can be extraordinarily helpful. Both methods have their strengths and weaknesses; It comes down to what works best within the context of a particular organization. Sometimes organizations don’t have much choice in deciding on the accounting method […]


How to Manage Your Bank Accounts When Self-Employed

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 […]