Accounting, Bookkeeping & Tax Blog

Your small business resource for accounting, bookkeeping, and taxes from our experts.
r-d-tax-credit-everything-to-know

Federal R&D Tax Credit: How To Qualify and Claim Benefits

The government encourages private-sector innovation by offering incentives, such as the federal research and development (R&D) tax credit, to businesses that invest in qualified research activities. While this credit used to be aimed at corporations with seemingly endless budgets, that is no longer the case. Now, this credit is available to medium and small businesses […]

all-about-form-w-9

All About Form W9: What It Is And How To File It

Whether you’re a freelancer or a small business owner, running a business means navigating complicated paperwork. Accurate and timely tax compliance is critical to smooth operations. Independent contractors and businesses paying non-employee compensation should understand the reporting requirements.  IRS Form W-9 is an informational form for recipients of numerous types of income, including non-employee wages. […]

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Self-Employed vs. Business Owner: Legal & Tax Differences

The business status of “self-employed” and “small business ownership” are sometimes used interchangeably and usually indicate you’re your own boss. While certain aspects, such as business model or eligible tax deductions, intersect, they are separate types of entities from a tax standpoint. Use this blog to determine what each status indicates and their tax implications […]

small-business-tax-credits

Small Business Tax Credits You Could Qualify for in 2024

When you started your business, you probably weren’t thinking about full-time employees, tax bills and tax brackets, business expenses, or working with CPA tax professionals during tax season. Tax credits weren’t on your mind, either, which is understandable. But now that you’re up and running, it’s important to learn which credits your business is eligible […]

hiring-your-first-employee

The Comprehensive Guide to Hiring Your First Employee + Steps

Hiring your first employee is an exciting milestone. Expanding your team allows you to offload administrative tasks and focus on your business growth.  This article will help you determine when you should hire your first employee. We’ll also explain the steps you should complete before hiring, during your candidate search, and for employee onboarding.  1-800Accountant […]

small-business-payroll

How to Set up Payroll for Small Business

While hiring employees lets you share the responsibilities of your business, it also means you’re taking on new responsibilities as a manager. One of those responsibilities is paying your employees.  Payroll refers to the entire process of paying your employees, from determining wages due and processing payments to distribution, recordkeeping, and tax withholding. Payroll includes […]

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Top 14 Payroll Mistakes and How to Avoid Them

Good employees are a critical asset for any business. That’s why it’s important to embrace a payroll process that pays them consistently and accurately while avoiding errors. Payroll mistakes are stressful for employees and can cause disruptions during tax season. Whether you’re considering hiring your first employee or already employing one, this blog will guide […]